Periodic Reporting for period 1 - PIPER (Printing of Ultra-Thin, Flexible Perovskite Solar Cells and its Commercial Application)
Reporting period: 2019-12-01 to 2020-05-31
Saule conducted a thorough feasibility study with an aim of defining its future business model and constructing a business plan for commercial scale deployment of the Company’s solution – printable perovskite solar cells (PSCs), a new generation of low-cost, efficient, flexible and light weight photovoltaic (PV) technology. The Study consisted of the assessment of target markets, followed by financial and technological feasibility analysis. Final results included the Company’s Business Plan, and additional documents, namely: Intellectual Property Strategy and Risk Management Plan.
The market analysis has proven that the PV market has gigantic potential with its value growing at CAGR of 25.1% from 2019 to 2026, driven mainly by increase in energy demand, especially from sustainable energy resources, which are favoured by governments’ regulations. Perovskite technology had outperformed the other emerging PV technologies (such as quantum dot based cells, organic cells, photochemical cells) and had attained the same level of efficiency as the already commercialized thin-film technologies. It is the only 3rd generation solution to become as efficient as 1st and 2nd generation cells in no more than few years of testing, while second generation cells have already been undergoing tests for 40 years. The Company has chosen EU and USA as its first and second deployment target as these regions are the most conscious when it comes to alternative, ecological energy sources and also the most prone to implement the Company’s technology in new areas of application.
As a result of the technological feasibility study Saule has assured that its R&D plan is viable and has set milestones for further development of PSCs. As the company has already completed its pilot production line, the next key points include improving power conversion efficiency and increasing modules’ size, while lowering the production cost. Also financial feasibility had a positive result, with one additional round of financing the Company should be able to reach break-even point and financial sufficiency. Saule’s Business Plan provides for a focus on production of PSCs for a wide range of applications: IoT market, building integrated photovoltaics (BIPV), utility-scale lightweight roofing and, in further future, mobility and aerospace. Saule has already started looking for business partners in the above areas, as the Company does not want to get involved in production of final products itself.