WILMINGTON, USA: DuPont Electronics & Communications president David B. Miller said that the company expects to achieve $1 billion in revenue from sales into the photovoltaic market in 2010 -- one year ahead of schedule.
The growth is supported by new market-driven innovations that improve solar module efficiency and performance, bringing costs down in line with other forms of energy and reducing the world's dependence on fossil fuels.
"We are delivering growth through our market-leading position in materials such as DuPont Solamet metallization paste, DuPont Tedlar backsheet films and a family of encapsulant resins and films that improve the efficiency and reliability of solar modules," Miller told analysts participating in the DuPont Business Series webcast.
"Our broad portfolio of offerings spans crystalline silicon cells and modules as well as thin film modules, putting us in an ideal position to capitalize on market growth in both segments of the photovoltaics industry. Several notable new product launches this year have helped us to accelerate growth above market. We also are investing in greater production capability and partnering with our customers to help keep pace with the fast rising global demand," said Miller.
The photovoltaics industry has been experiencing explosive growth in 2010 as demand for high-performance and lower-cost products continue to increase. With a global population expected to exceed 9 billion in 2050 and global energy consumption projected to increase 60 percent, and more than double in emerging markets in the next 20 years, Miller emphasized the need to face head-on the challenge of developing renewable energy sources, and how innovation will be a driving force toward delivering solutions.
"Addressing energy needs is a global concern. The generation of renewable energy will be the fastest growing sector in the energy market for the next 20 years, and materials for photovoltaic applications are a critical success factor for sustainable growth," said Miller. "We can apply the power of our market-driven science to offer products and technologies that can transform the sun's potential into clean energy, contributing to decreasing dependence on fossil fuels."
DuPont is applying the power of its integrated science to help reduce the world's dependence on fossil fuels. DuPont has a range of market-leading innovations that address the renewable energy challenge, including enabling materials for photovoltaics, biofuels, renewably sourced materials and technologies engineered to improve energy efficiency.