DuPont expects to nearly triple its annual photovoltaic sales to more than $1 billion in 2012 based on strong fundamentals for long-term revenue growth in the photovoltaic solar energy market, combined with the company’s ability to deliver new technologies to the industry, said DuPont in a news release.

“Through investments in materials, technology development, and manufacturing, DuPont is accelerating its ability to deliver innovations that will improve the lifetime and efficiency of photovoltaic modules,” said David B. Miller, group VP – DuPont Electronic & Communication Technologies. Miller spoke at the Jefferies 7th Global Clean Technology Conference on March 17.

“Photovoltaic technology is in its infancy and the opportunities in this market are extensive. DuPont is uniquely positioned to bring new, advanced technologies for future growth in traditional crystalline silicon and emerging thin-film photovoltaic segments,” said Miller. “We are also investing in greater production capability to help keep pace with the fast rising global demand.”

DuPont anticipates that the photovoltaic market will grow by double digits over the next several years, driving demand for existing and new materials that are more cost effective. The current market size is about $30 billion, and is expected to increase to $70 billion by 2013. Within the past year, DuPont has made significant investments in product development and capacity expansions for leading brands critical to photovoltaic module manufacturing, including DuPont Tedlar polyvinyl fluoride (PVF) films and DuPont Solamet thick-film metalization pastes, consistent with the rise in demand. The growth rate for thin film is projected to be about twice as high as demand for crystalline silicon, and DuPont expects this increase to drive specifications for both new and existing products that serve the thin film industry. —[email protected]