Energy plays a vital role in determining the economic development and growth of a nation. Currently, there is an increase in demand for electricity to achieve rapid growth in the economy and to avoid the adverse effects on the environment due to unsustainable energy production. Solar energy is the most prolific method of energy capture in nature and a viable source of electricity, which leads to the invention of cost-effective solar cells. Thus, this energy is experiencing a notable acceptance at residential and commercial establishments as glass configuration PV panels have become a safer choice of integration in buildings. Because of this, it is estimated that solar energy delivers nearly 50% of the world’s energy by 2050 on its way to claim a dominating share of global power generation. It is possible through the performance improvement of solar glass and low Levelized Cost of Energy (LCOE). Thus, solar photovoltaic (PV) glass manufacturers are focused on designing a variety of solar PV glass and anti reflective coating glass combining high-performance space-grade solar cells to fulfill the need for more light in desired environments. Moreover, the increasing adoption of solar PV glass in building facades is contributing to an increment in the solar PV market size. This solar glass adoption defines the starring role of solar in the future powered with renewable energy, as it enables greater light penetration. Companies in the solar PV glass industry are focusing on anti-reflective coatings for solar PV glass, as it boosts up the performance in solar panels by 3% thereby increases the PV modules power output and also pull down the LCOE. Hence, it is enlarging the scope for the companies to increase their solar PV glass market share.
The global solar photovoltaic glass market size was evaluated at $4.5 billion in 2018, set to grow with a noteworthy CAGR of 28.65% all through the forecast period 2019-2025.
Utility Application Prevalence in the Solar PV Glass Market:
The utility application of the solar PV glass market is set to grow at the fastest CAGR of 32.56% among all other applications over the forecast period. Presently, most of the efficient solar panels are equipped with space-grade PV cells along with concentrated glass cover to overcome the drawback regarding the installation space requirement on both rooftop and land. For this, cost-effective solar PV glass is preferred to increase the efficiency and durability of solar panels. Additionally, it is easy to install on the rooftop and the ground as well. Global glass manufacturers aim to incorporate transparent solar power technology into architectural window glass allowing buildings to generate their onsite renewable energy as part of the building integrated photovoltaic (BIPV) market. BIPV products are the perfect suit to meet aesthetic demands and widely acceptable among architects, designers, and occupants. In addition to this, the glass maker’s effort to develop advanced architectural window glass products coupled with replacement of traditional building facades with power-generating glass is boosting the prominence of solar PV glass, a power-generating skyscraper in a utility application.
APAC Solar Photovoltaic Glass Marketplace:
APAC has established a dominating share of 39% in the global solar photovoltaic glass market revenue, as of 2018. An increase in the number of energy-guzzling buildings with solar PV glass in APAC coupled with the motto to maintain an energy-conscious environment to save resources is impacting architects to make more energy-efficient buildings in this region. Growing usage of clean energy to reduce hazard effects of carbon emissions on the environment is rising solar generation capacity in the Asian countries. Additionally, government policies and initiatives to ensure renewable energy generation supporting the installation of solar PV plants in eminent countries such as India and China of APAC.
Solar Photovoltaic Glass Market – Competitive Landscape
Xinyi Solar Holding Ltd., Nippon Sheet Glass Co. Ltd., Saint-Gobain S.A., Guardian Industries, Trina Solar Ltd., Asahi Glass Co. Ltd., Canadian Solar Inc., First Solar Inc., Yingli Green Energy Holding Company Ltd., ReneSola Ltd., Hanwha Q CELLS Co. Ltd., and Sun Power Corporation are competing to stand among Solar Photovoltaic Glass top 10 companies, globally.
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