Delivery : 24-72 Working Hours
Report Code: PE11070
Category : Unconventional & Renewable Energy
Solar photovoltaic (PV) glass is a technology that incorporates transparent semiconductor-based photovoltaic cells, known as solar cells, enabling the conversion of sunlight into electricity. These solar cells are embedded between two glass panes and are used for PV applications in either crystalline silicon or thin film form. For crystalline silicon solar cells, solar PV cells use ultra-clear figured glass as cover, while for thin film solar cells, super clear float glass is used.
The power generated from the solar PV cells reduces carbon footprints and greenhouse gas emissions, and also ensures energy cost savings. Additionally, the increasing environmental concerns has led to the growing shift towards renewable energy sources, which is likely to boost the growth of solar PV glass market during the forecast period (2017-2023). The increasing solar PV installations across various nations including Mexico, India, Pakistan, Italy, Spain, the UK and South-East Asia is expected to boost the demand of solar PV glass during the forecast period. Moreover, the favorable government norms such as Kyoto Protocol Act focusing on promoting the usage of solar PV panels thereby reducing the carbon emissions is expected to further propel the market for solar PV glass during the forecast period.
Solar PV glass can be easily integrated into buildings and rooftop systems thereby creating renewable energy through the economical use of solar energy and creative architectural design.
Favorable regulations in European countries including Italy, Spain and Belgium are expected to create ample demand for solar PV glass in the regional market. Additionally, favorable climatic conditions, lower prices and the increasing availability of solar PV manufacturers in China and India is expected to drive the growth of solar PV glass in the Asia-Pacific region at a significant level during the forecast period. Additionally, the increasing demand for solar PV glass from China, Australia, Japan, India and South-East Asian countries is expected to further spike the demand for solar PV glass during the forecast period.
The global solar PV glass market is expected to witness significant growth during the forecast period (2017-2023) due to the increasing disposable incomes, shift towards renewable energy sources owing to the increasing environment concerns and rapid industrialization and urbanization in emerging nations such as China, India, Russia and Brazil. Based on application, utility segment is projected to generate the highest revenue in global solar PV glass market during the forecast period.
The key trend observed in the solar PV glass market is the rising R&D activities and green building trends. Major companies such as Asahi Glass Co., Ltd., Xinyi Solar Holding Ltd. and Nippon Sheet Glass Co. Ltd. are investing on research and development (R&D) activities to develop innovative solutions and technologies in the market to create huge demand for solar PV glass across the globe during the forecast period. Additionally, according to the World Green Building Trends 2016, green building construction is expected to double every three years owing to the client demand, environmental regulations and an increased awareness of the benefits of renewable energy sources, creating significant demand for the solar PV glass during the forecast period.
The major factors driving the growth of solar PV glass market are increasing PV installations and favorable policy support from the government. The increasing power demands and comparatively lower costs associated with the solar PV installations compared to conventional energy sources is expected to attract huge opportunities for solar PV glass from the utilities segment during the forecast period. Additionally, the increasing awareness towards the benefits of renewable energy sources and the rising need to curb the emission levels is likely to further drive the market for solar PV glass during the forecast period.
The increasing disposable incomes is expected to increase the number of PV installations in the residential segment during the forecast period. This would spike the demand for solar PV glass to a significant level during the forecast period.
Major restraints hampering the growth of the global solar PV glass market include the changing environmental conditions and high technological costs in emerging and underdeveloped nations. Additionally, the growing grid congestion problems, production curtailment and complexity in subsidies in China and India could act as a barrier to the growth of solar PV glass during the forecast period.
Though PV technology is cost-effective and an appropriate option for various end-use applications, the high capital costs associated with PV installations and the relatively poor installation and maintenance practices would limit the overall deployment of PV systems. This would further hinder the demand for solar PV glass during the forecast period.
The global market for solar PV glass is fragmented and highly competitive in nature. Major companies invest heavily on Research and Development (R&D) activities to develop new and innovative solutions thereby gaining foothold in the solar PV glass market. Some of the key players in the global solar PV glass market include Xinyi Solar Holding Ltd., Asahi Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Saint-Gobain S.A., Guardian Industries, Trina Solar Ltd., Canadian Solar Inc., Hanwha Q CELLS Co. Ltd., First Solar Inc., Yingli Green Energy Holding Company Ltd., ReneSola Ltd., and Sun Power Corporation.