Power semiconductors are vital components of all electronic systems, from smartphones to
automobiles, and improvements in power semiconductors accelerate the transition toward a green economy.
Newer, more sophisticated DC/DC converter designs are helping reduce energy consumption through increased power conversion efficiency. The best DC/DC converters have conversion efficiencies greater than 95%, leveraging design innovations and access to new materials such as
silicon carbide (SiC) and
gallium nitride (GaN). Green technology product designers have noted that the number of power semiconductors used in the global renewable energy market is expected to grow at a compound annual growth rate (CAGR) of 8–10% between now and 2027.
Efficiency is one piece of the puzzle; improved power density is another because it allows designers to fit more power into the same volume. A new application can provide more functionality in the same space as its predecessor or equivalent functionality in a smaller space. This is particularly important as many green applications replace mechanical devices with electronic counterparts. For example,
electric vehicles (EVs) replace belt-driven mechanical HVAC units and power steering pumps with electronic versions that must still fit into the limited space under the hood. Additionally, reduced size leads to lower weight, which increases vehicle range.