NewswireToday - /newswire/ -
Upper Lake, CA, United States, 2011/12/13 - According to ElectroniCast, the consumption value of Linthium-ion-Capicitors in Solar Photovoltaic power generation is forecast to grow from less than$1 million in 2011 to nearly $233 million in 2021 - ElectroniCastconsultants.com.
ElectroniCast Consultants, a leading market & technology forecast consultancy, today announced their market forecast of the worldwide consumption of lithium-ion capacitors (LICs) used in solar photovoltaic (PV) power generation.
ElectroniCast estimates that in 2011, the worldwide consumption value of lithium-ion capacitors used in solar photovoltaic power generation applications will reach (only) $0.862 million; however, consumption value is forecast to increase at an average annual growth rate of 87.5 percent to $19.99 million in 2016. From 2016-2021, the total consumption value is forecast an increase 63.4 percent per year, reaching $232.88 million in the year 2021. (All values and prices in this report are at end-user levels, and are in current dollars, which include the effect of a forecasted 5 percent annual inflation rate over the forecast period).
A capacitor is an electrical device that stores or releases electricity through rapid electrostatic reactions. Compared with a battery that stores electricity through slow chemical reactions, a capacitor makes it possible to charge and discharge electricity almost instantaneously with a long cycle life.
Lithium-Ion Capacitors (LICs) have a higher power density as compared to batteries and they are safer in use than Lithium-Ion Batteries (LIBs), since thermal runaway reactions may occur with LIBs. Compared to an Electric Double-Layer Capacitor (EDLC), the lithium-ion capacitor has a higher output voltage. They both have similar power densities, but energy density of a lithium-ion capacitor is higher.
According to ElectroniCast (electronicast.com) one of the main market driver for LICs with solar (PV) panels will be in conjunction with light emitting diode (LED) street/roadway lighting.
Although there is currently a huge build-up of existing inventory of PV solar panels, mainly due to the on-going global economic pressures, eventually the solar photovoltaic industry sector has an impressive outlook.