This report contains material displayed on poster panels during the Conference. The purpose of the contribution was to present a summary of the business overview of thermophotovoltaic generation of electricity and its market potential. The market analysis has shown that the TPV market, while currently still in an early nucleation phase, is evolving into a range of small niche markets out of which larger‐size opportunities can emerge. Early commercial applications on yachts and recreational vehicles which require a quiet and emission‐free compact electrical generator fit the current TPV technology and economics. Follow‐on residential applications are attractive since they can combine generation of electricity with space and hot water heating in a co‐generation system. Development of future markets in transportation, both private and communal or industrial, will be driven by legislation requiring emission‐free vehicles, and by a reduction in TPV systems cost. As a result of ‘‘moving down the learning curve,’’ growing power and consumer markets are predicted to come into reach of TPV systems, a development favored by high overall energy conversion efficiency due to high radiation energy density and to high electric conversion efficiency available with photovoltaic cells. ©1996 American Institute of Physics.