Solar Photovoltaic Glass Market Globally Expected to Drive Growth In Upcoming Year

Solar photovoltaic glass is a technology that enables the conversion of light into electricity by incorporating transparent solar cells. In solar photovoltaic glass, solar cells are inserted between two sheets of glass panes and are used for photovoltaic applications in different forms. Solar photovoltaic glass is either of crystalline silicon or thin film form. In crystalline silicon solar cells, glass panes are ultra-clear figured glass, while the glass used for thin film solar cells is super clear float glass. Solar photovoltaic glass is designed to replace the traditionally used building materials in parts such as windows, rooftops, and fronts. This helps in creation of renewable energy through creative architectural design.

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Solar photovoltaic glass offers numerous benefits. It can be installed as part of a house. Furthermore, high temperature does not affect its performance. Solar photovoltaic glass also provides better insulation than standard glass. It is designed to reduce heat gain. The solar photovoltaic glass market is expected to expand significantly in the near future owing to the increase in the usage of renewable energy sources and implementation of stringent government regulations and policies concerning the adoption of clean energy. Governments of various countries are taking initiatives to encourage the adoption of viable energy for building materials this is anticipated to positively influence the solar photovoltaic glass market during the forecast period. Furthermore, energy generated by solar photovoltaic glass reduces greenhouse gas and carbon emissions and ensures energy cost savings. Increase in demand for power and lower costs associated with solar photovoltaic glass installations as compared to the conventional energy sources are estimated to offer lucrative opportunities for the solar photovoltaic glass market during the forecast period. Furthermore, increase in awareness about the benefits of renewable sources of energy and the growing need to limit carbon emission levels are projected to boost the market for solar photovoltaic glass during the forecast period.

High installation costs, increase in prices of raw materials, and need to purchase power conversion devices are factors hampering the solar photovoltaic glass market. Changing environmental conditions is another key restraint of the solar photovoltaic glass market. High technological costs in emerging regions is also likely to act as a barrier to market growth.

The solar photovoltaic glass market can be segmented based on technology module, type, and application. In terms of technology module, the solar photovoltaic glass market can be divided into crystalline silicon modules, amorphous silicon modules, thin film modules, and multi-junction modules. Based on type, the solar photovoltaic glass market can be classified into anti-reflective (AR) coated, tempered, transparent conductive oxide (TCO) coated, and others. In terms of application, the solar photovoltaic glass market can be segregated into residential, non-residential, and utility segments.

Geographically, the solar photovoltaic glass market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific led the global solar photovoltaic glass market in 2016. It is anticipated to be the dominant region during the forecast period, owing to high demand for solar photovoltaic glass in countries such as China, India, Japan, and South Korea. Favorable regulations in North America and Europe are also projected to create opportunities for the solar photovoltaic glass market in the region. Increase in investments to explore the potential of the solar photovoltaic glass in Middle East & Africa and Latin America is likely to propel the solar photovoltaic glass market in these regions.

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Key players operating in the solar photovoltaic glass market include AGC Solar, Henan Huamei Cinda Industrial Co., Ltd., Borosil Glass Works Ltd., Hecker Glastechnik GmbH & Co. KG, Saint-Gobain Solar, Guangdong Golden Glass Technologies, Euroglas, Nippon Sheet Glass Co., Ltd., Sisecam Flat Glass, Taiwan Glass Ind. Corp., Xinyi Solar Holdings Ltd., and Emmvee Toughened Glass Private Limited.

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