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The Solar PV Glass market is going through some big changes that will have an impact on how solar energy systems work in the future. It's clear that more and more people want solar PV glass that is clear. As people care more about the environment, more work is being done to make solar technology work with existing systems without any issues. Solar power can be made with clear solar PV glass that doesn't change the way buildings or structures look. Cities need clean energy choices a lot, so this trend is very clear there. To meet this need, architects and designers are adding solar PV glass to surface and window glass.
Another important market trend is the rise of solar PV glass that can be used on both sides. With bifacial technology, sunlight can come in from both the front and back of the glass. This saves the most energy. This new idea is famous in the solar business because it can make more power, especially in places like snow that reflect a lot of light. More and more people are using this kind of solar PV glass because it makes solar systems work better. This makes the market for solar PV glass grow all around.
Better ways to coat things are also coming out, which is good for the business of solar PV glass. Anti-reflective materials are being put on more and more things. These materials cut down on reflection losses and make it easier for light to pass through. In general, these layers make solar PV glass work better by letting more sunlight hit the solar cells. In this way, the process of turning light into energy works better. Solar systems can be hard to take care of, but more and more surfaces are self-cleaning, which helps.
There is a clear shift toward the Asia-Pacific region when it comes to market landscape. China and India have become major players in the solar PV business thanks to strong green energy goals and tax breaks from their governments. More solar projects are being built in these places, so the need for solar PV glass has grown. More money is also being put into solar systems because people are learning about environmental issues and the need for energy sources that last a long time. This makes the market grow even more.
There is also more interaction between study centers and companies that make solar PV glass. The group's goal is to find new materials and methods that will make solar PV glass cheaper and better. To fix issues like cutting prices, making solar PV glass work better, and making sure it can be recovered, it is important to focus on research and development. This will make sure that it can be used as a source of energy for a long time.
Lastly, the Solar PV Glass market trends show that the business is changing quickly. This is because of new technologies, the need to care more about the environment, and changes in regional markets. It's clear that the industry has changed over the years, as shown by bifacial technology, better finishes, and the rise of the Asia-Pacific region as a big market player. Solar PV Glass sales are likely to keep going up as more people switch to green energy. It's a big part of switching to energy sources that are better for you and the environment.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | Low Acquisition Cost Government Initiatives |
| Market Dynamics | Increasing Awareness In Renewable Energy Green Building Construction Technology |
Solar PV Glass Market Highlights:
Global Solar PV Glass Market Overview:
Solar PV Glass Market Size was valued at USD 20.1 Billion in 2023. The solar PV glass market industry is projected to grow from USD 26.93 Billion in 2024 to USD 208.94 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 29.19% during the forecast period (2024 - 2032). A prominent market driver anticipated to propel expansion in the solar photovoltaic glass market is awareness about producing dependable and clean energy, upgrading the infrastructure of existing structures, and government initiatives. The market for solar photovoltaic glass is also anticipated to rise globally due to the increased demand for the material in the industrial and commercial sectors in developing economies and rising public awareness.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Solar PV Glass Market Trends
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Government policies used for the production of renewable energy are driving the market growth
The main factor promoting the development of solar energy systems and related products is the support given by governments all over the world. These governments are always trying to develop better feed-in-tariff and solar rebate laws to make it easier to connect to the grid and give different photovoltaic projects financial support. Several nations, including the US, China, India, and Germany, are actively pushing the use of solar energy. For example, the US Department of Energy introduced a 26% tax credit program for homes with solar PV systems built within the previous two years. The government also extended the Investment Tax Credit (ITC), increasing it to 30% for installations completed within the following ten years. Like the United States, China boosted its budget for renewable energy incentives to USD 840 million for 2021, of which around 55% was designated for the solar power sector. On the other hand, the government of India has projected significant increases in solar power generation capacity, aiming to increase current output from 49.6 GW in 2021 to roughly 300 GW by 2030. Practically all national governments are undertaking similar measures, which is anticipated to increase demand for solar PV modules and, in turn, solar PV glass.
The solar PV glass industry is undergoing fast development as a result of the modernizations taking place throughout the entire value chain. Solar energy is one of the planet's most abundant and environmentally friendly forms of renewable energy. The government has also established supportive environmental rules at the state level for the development and operation of solar PV projects to ensure renewable energy generation. Solar energy's key benefit is that it is a completely renewable energy source. The time it takes for solar to make up for its electricity will continue to decrease as manufacturers hunt for ways to make solar panels more efficient as the solar business expands. Moreover, it is anticipated that encouraging government initiatives to ensure a sustainable future through the use of renewable energy would hasten market CAGR. Solar power is classified as a "green" energy source because it has no adverse effects on the environment and produces no emissions once installed on a roof. Additionally, the relative environmental cost of producing solar panels is rapidly decreasing compared to the clean energy they produce.
Over the past few years, the cost of solar panels and photovoltaic items, including modules, glass, and mirrors, has steadily declined. These systems unquestionably cost more to install than more traditional options. However, these systems require relatively little upkeep after installation and have modest ongoing expenditures. In the PV market, there are several competitors. These market participants frequently release effective products at reasonable pricing. As a result, the cost of solar products has decreased. Other elements contributing to the decline in photovoltaic/solar system costs include falling raw material prices, government subsidies, and widespread manufacture of these technologies. Thus, driving the solar PV glass market revenue.
Solar PV Glass Market Segment Insights:
Solar PV Glass Module Insights
The Solar PV Glass Market segmentation, based on module includes Crystalline Silicon Modules, Amorphous, Silicon Modules and Thin Film Modules. The thin film modules segment dominated the market. Low cost per watt power generation is achieved with thin-film photovoltaic glass. They are ideal for large-scale solar farms and Building Integrated Photovoltaic (BIPV) applications. In addition to producing steady electricity at high temperatures, they also contribute to cloudy, overcast days and at times of low sun points.
Solar PV Glass Product Type Insights
The Solar PV Glass Market segmentation, based on product type, includes Anti-reflective (AR) Coated, Transparent Conductive Oxide and Tempered. The anti-reflective (AR) coated category generated the most income. Solar PV glass that is AR coated, sometimes called aluminized or translucent, reflects the sun's rays while still allowing them to reach the device below. The AR in AR-Coated stands for an anti-reflective coating that reduces internal reflection to reduce rear glare and boost light transmission. It does not alter the look of sunlight and has no color or weight.
Solar PV Glass Utility Insights
The Solar PV Glass Market segmentation, based on utility includes Utility, Residential and Non-Residential. The utility segment dominated the market. These sizable solar energy facilities produce electricity for grid transmission and distribution. Due to the rising demand for clean energy and the growing requirement to meet the world's energy demand, the utility-scale category is anticipated to occupy the greatest share of the market. Because solar technology is becoming more affordable and government incentives and subsidies are available, building large-scale solar projects is becoming more realistic. Developing nations, with a strong demand for energy and a great potential for solar energy generation, are also anticipated to see considerable expansion in the utility-scale solar projects market.
Figure 1: Solar PV Glass Market, by Utility, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Solar PV Glass Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American solar PV glass market area will dominate this market due to a period of transition during which it is seeing rapid development in a variety of areas, including infrastructure and industries. This is expected to increase demand for solar PV glass in the near future. A major factor fueling the demand for infrastructure development in this area is the fast-growing population. The market for solar PV glass is then anticipated to grow as a result. North America will experience development in the solar photovoltaic glass market as a result of rising solar energy plant installations and a preference for renewable energy.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Solar PV Glass Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe solar PV glass market accounts for the second-largest market share. Numerous solar energy systems are in the area and employed for power production, district heating & cooling, water heating, and space heating. The well-developed infrastructure and the dedicated efforts of the local government to support and use renewable energy technology are anticipated to positively impact the European market. The continuous government attempts to encourage rooftop installation and strong regulations against carbon emissions will likely cause an exponential increase in revenue for the UK business over the next few years. Further, the German solar PV glass market held the largest market share, and the UK solar PV glass market was the fastest growing market in the European region
The Asia-Pacific Solar PV glass Market is expected to grow at the fastest CAGR from 2023 to 2032. Urbanization and population are expanding quickly in developing nations like China, Pakistan, India, South Korea, Indonesia, Malaysia, and Japan. Many of these developing nations' basic infrastructure systems and electrical grids are unreliable. Due to this reason, industry participants are anticipated to spend in these nations, which will accelerate the development of PV glass installations and distribution grids. Moreover, China’s solar PV glass market held the largest market share, and the Indian solar PV glass market was the fastest growing market in the Asia-Pacific region.
Solar PV Glass Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the solar PV glass market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, solar PV glass industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global solar PV glass industry to benefit clients and increase the market sector. In recent years, the solar PV glass industry has offered some of the most significant advantages to market. Major players in the solar PV glass market attempting to increase market demand by investing in research and development operations include First Solar Inc., Xinyi Solar Holding Ltd., Nippon Sheet Glass Co. Ltd., Yingli Green Energy Holding Company Ltd., Sun Power Corporation, ReneSola Ltd., Hanwha Q CELLS Co., Saint-Gobain S.A and Guardian Industries.
Compagnie de Saint-Gobain manufactures building materials and construction-related products. Its product line includes a range of plastics, pipelines and associated goods, building supplies, gypsum, industrial mortar, roofing and exterior wall products. Additionally, the business sells performance polymers, glass textiles, and mineral ceramics. The company markets these products under a number of names, including ADFORS, Saint-Gobain Gla, British Gypsum, and Isover. The automotive, health, defense, energy, security, aerospace, and food and beverage industries all use Saint-Gobain products.
A supplier of solar technology and energy services is SunPower Corp. The business produces, develops, and distributes various products, including batteries, micro inverters, and AC panels. Additionally, SunPower designs, acquires, finances, builds, and maintains solar power facilities that use solar panels to produce electricity. Among other things, SunPower also provides rooftop, carport, and grid equipment controllers. The business uses a variety of channels to market and sell its solar power solutions, including direct sales, long-term leases, EPC services, a network of independent global dealers, and O&M services.
Key Companies in the solar PV glass market include
- First Solar Inc.
- Xinyi Solar Holding Ltd.
- Nippon Sheet Glass Co. Ltd.
- Yingli Green Energy Holding Company Ltd.
- Sun Power Corporation
- ReneSola Ltd.
- Hanwha Q CELLS Co.
- Saint-Gobain S.A
- Guardian Industries
Solar PV Glass Industry Developments
May 2023
Canadian Premium Sand (CPS), a manufacturer of patterned solar PV glass, has signed offtake agreements with significant panel producers Meyer Burger, Qcells, and Heliene, and is taking steps to significantly grow its business.
In addition to its initial plans to increase production by 550 tonnes per day, the Alberta-based company announced that it will open an 800 tonne per day solar glass facility. With a strong demand for solar manufacture in the US as a major driver, this translates to an annual production of solar glass of around 6 GW.
The facility will be able to manufacture a variety of patterned solar glass standards, including standard 3.2 mm-thick front glass for the residential and commercial rooftop market and 2.0 mm-thick glass necessary for the bifacial utility market.
April 2023
A new lightweight, fully circular solar panel will be unveiled at JEC World 2023 by EconCore (Leuven, Netherlands), a producer of honeycomb sandwich material production technology, and Solarge (Weert, Netherlands), a manufacturer of lightweight, sustainable solar panels. This solar panel will reduce the weight of solar installations by up to 65% for rooftops.
EconCore and Solarge have been working closely together since the beginning of 2018 to create this next-generation solar panel, which eliminates weight by swapping out heavy glass for lightweight honeycomb materials. As a result, traditional non-sustainable materials now have a completely recyclable replacement. A new EconCore/Solarge panel that is slightly over 2.66m2 in size weighs 14.5 kg as opposed to the old glass-type model's more than 28 kg.
The businesses are exploring how to employ a composite, honeycomb structure and a polymer frontside to replace the glass that is now used in solar panels. For a given weight or density, honeycomb possesses excellent mechanical qualities, being extremely rigid and robust. Glass panels require an aluminum frame as well, but honeycomb eliminates this requirement as well, reducing weight further.
April 2023:The capacity expansion plans for CSI Solar Co., Ltd., a subsidiary of Canadian Solar, were revealed. CSI Solar plans to increase its ingot, wafer, cell, and module capacities by 30 GW, 15 GW, 10 GW, and 25 GW by the end of the first quarter of 2024.
November 2022:A solar power plant and energy storage facility are being built in Arizona, USA, thanks to a collaboration between EE North America and Elio Energy. The 2 GW project's construction is scheduled to begin in 2023.
August 2022:The construction of a new manufacturing facility in Malaysia, announced by Nippon Sheet Glass Co., Ltd., would increase the company's capacity to produce solar PV glass with TCO coating. This investment is anticipated to increase the company's market presence globally and strengthen its capacity to fulfill the rising demand for solar PV glass.
April 2021:Interfloat Corporation and Glasmanfaktur Brandenburg (GMB), two European solar glass manufacturers, have been acquired by Borosil Renewables Ltd. The goal of the acquisition was to make the company more competitive in the Solar PV Glass Market and to expand its supply network across Europe. Additionally, this action aimed to increase the company's overall manufacturing capacity and product portfolio.
Solar PV Glass Market Segmentation:
Solar PV Glass Module Outlook (USD Billion, 2018-2032)
- Crystalline Silicon Modules
- Amorphous
- Silicon Modules
- Thin Film Modules
Transparent Solar Panels Product Type Outlook (USD Billion, 2018-2032)
- Anti-reflective (AR) Coated
- Transparent Conductive Oxide
- Tempered
Solar PV Glass Application Outlook (USD Billion, 2018-2032)
- Utility
- Residential
- Non-Residential
Solar PV Glass Regional Outlook (USD Billion, 2018-2032)
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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