Thin Film PV Production To Increase 1000% By 2020
Hybrid Energy Holding (HEH) says CIGS will emerge as the major technology by 2020.
Hybrid Energy Holding has increased its income projections and market valuation of it core Solar assets, citing GBI Research's new report, "Thin - Film Photovoltaic (PV) Cells Market Analysis to 2020 - CIGS to Emerge as the Major Technology by 2020."
Thin Film PV technology has seen a major development leap from only being associated with the little strip of PV cells that power calculators to sophisticated BIPV or solar charges for mobile devices. From a mere 14 MW production in 2001 the market has grown to reach 2141 MW in 2009, at a CAGR of 58%.
The market outlook for the coming decade appears promising as the major thin film producing countries are announcing aggressive support for renewable energy expansion through incentives and regulations. In the retrospect, the Thin Film module production is projected to grow at the rate of 24% from 2009 to reach 22,214 MW production by 2020, a impressive 1000% increase from 2009 levels in a mere 10 years.
The Company recently announced the first development projects to evolve from the Photovoltaic (PV) and Solar Thermal technology Intellectual Properties (IP) recently acquired as part of the $18M Technology Transfer Agreement and Joint Development Agreement with KS IP Holdings, LLC, a private company specializing in clean energy technologies.
The projects, to be co-developed and distributed as part of the Agreement, center on the development and distribution of Solar Thermal building and conversion products for both residential and commercial applications.
Hybrid Energy believes the PV and Solar Thermal Market, particularly for residential and commercial use, is a high growth sector promising to become a significant and vital energy option primed for strong sales growth of the company's holdings and technologies.
The Company has also announced the official launch of its acquisition initiative to acquire technology and operational protocols to successfully re-activate, recover, or rehabilitate otherwise dormant or depleted oil wells. The initiative's focus will be on the extraction and profitable recovery of 'heavy oil' reserves from existing wells not in active production. The Company expects to be issuing updates shortly.
The Company's foundation-building Phase I strategic plan called for traditional and proven fuel production acquisitions to establish revenues and assets. Building on its success, the Company launched Phase II of its growth strategy and began its transition to alternative and renewable energy and technology revenue models.
The Solar Energy Acquisition and Development Project, together with the addition of technologies to increase the Company's production efficiencies and profitability, will increase the Company's revenue and shareholder value.
Hybrid Energy Holdings (HEH) acquires and operates profitable energy companies with strong historical cash-flow and sustainable profitability. The Company acquires sector-specific technology and assets as part of its Phase II Clean Energy Initiative.