What are photovoltaic materials? The materials used to produce solar panels or cells that convert sunlight into electricity are known as the photovoltaic materials market. These materials are primarily semiconductors that absorb light and convert it into electrical charges. Perovskite, organic and silicon-based photovoltaic materials are the most widely used types of photovoltaic materials. Silicon-based photovoltaic materials dominate due to their efficiency, reliability and proven production methods. However, new technologies such as perovskite solar cells are beginning to emerge as possible industry game-changers because they can deliver higher efficiencies at a cheaper cost. Traditional solar panels are not the only photovoltaic materials on the market. The uses of solar energy are also expanding thanks to advances in solar thin films, bifacial solar cells and building-integrated photovoltaics (BIPV).