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DuPont predicts 50% growth in solar PV sales

03/09/2010

Chemical company DuPont said yesterday it expects its sales of materials for the solar photovoltaic industry to grow by more than 50% this year.

The company, which provides structural materials, seals and thin films for PV cell manufacturers, achieved $550 million in revenues in 2009 – a 25% growth on the previous year.

Out-performing the rest of the market’s 10% growth rate, DuPont said it had hit its sales target for 2010 a year early.

Now with increased market demand for new solar installations in North America, Europe and parts of Asia, DuPont said it expects sales to exceed $1 billion in 2011.

It has set a new goal to pass the $2 billion sales mark by 2014.

David B Miller said his company’s focus on supplying materials specific to the photovoltaic industry was “paying off”.

He said: “We are aggressively expanding to supply those materials in the volumes required by this high growth industry.”

DuPont said its growth was backed by new material innovations it claimed improve module efficiency and lifetime, as well as allowing for new photovoltaic technologies that would accelerate the solar industry’s push toward lower cost systems.

Materials innovations are essential to delivering improved efficiency” – David Miller, DuPont

The company, which has its headquarters in Wilmington, Delaware, now offers 10 products “critical” to photovoltaic production, for crystalline silicon and thin film modules.

Mr Miller said: “We expect our growth momentum to continue because materials innovations are essential to delivering improved efficiency, longer lifetimes, and lower overall system costs to consumers.”

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