The technology has significant applications since it is highly efficient even in diffused sunlight. Therefore, countries at higher latitudes or those with limited solar energy resource can generate significant amounts of solar-powered electricity with going for large-scale power plants.
If extended, the technology can find its way to the automobile industry where photo-sensitive dyes can be applied to cars to generate electricity to split water into hydrogen and oxygen for fuel cells. Tata recently invested in an American company, Sun Catalytix, which integrates low-cost catalyst with solar-powered fuel cells to generate power.
Just think you have got a piece of metal and by just spraying a layer over it, turns into a solar panel. No more heavy investment will be required to set up solar panels. Also people will be able to produce enough energy to use their electronics and cars. How convenience.
The technology gains significance because the process of 'printing' these dyes on the steel sheets has already been mastered by Tata's European subsidiary Corus which is working on a new plant for the production of these steel sheets.