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Solar PV Glass Market Share, Company Analysis And Forecast To 2025

Press Release   •   Jan 22, 2018 07:28 EST

Solar PV glass is a complete unit containing solar PV cells and other necessary electrical components and equipment, which capture solar energy and convert it into electrical energy. PV cells are printed on the glass during the manufacturing process. It is an architectural component that provides with a variety of design solutions for construction, and can convert solar energy into electricity. Solar PV glasses can be used to replace glass components employed in building construction. Solar PV glass is used to build facades and rooflight systems in buildings to capture and convert solar energy into electrical energy. This energy can be used for various applications in buildings, which require electricity. Therefore, solar PV glass not only provide designing solutions but also it is economical as it saves energy costs. Using solar PV cells in buildings, help reduce the use of non-renewable energy. Moreover, solar PV cells prove to be clean, silent, and eco-friendly source of producing electrical power. Solar PV glass is transparent and allows better penetration and absorption of sun rays, as compared to solar panels that are opaque.

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According to UN, world population is increasing rapidly and is anticipated to reach 8.6 billion in 2030 from 7.6 billion, in 2016. Nearly 83 million people are added to the world population of the world per year. This is increasing the demand for food, clothing, and infrastructural facilities to cope with the increasing population. These directly or indirectly, boost the demand for energy. Non-renewable energy sources are being consumed to generate electricity. These resources are scarce in quantity and are expected to deplete in the near future. These factors are majorly driving the demand for solar PV glasses. Use of solar PV glass in residential and commercial buildings considerably reduce the consumption of electricity, produced from non-renewable energy sources. In 2016, the residential and commercial buildings consumed around 40% of the total energy produced in the U.S. However, use of solar PV glass has several limitations such as large dependence on climatic conditions, use of toxic chemicals such as cadmium and arsenic for production of PV cells. These limitations restrain the solar PV glass market. Moreover, the production cost of PV cells, and in turn the cost of the complete assembly of the solar PV glass unit is high. This is anticipated to hamper the solar PV glass market.

In terms of application, the solar PV glass market can be segmented into residential, commercial, and utility. The residential segment is anticipated to expand at a rapid pace during the forecast period. Currently, the use of solar PV glass is dominated by its use in the utility segment and is anticipated to continue its dominance during the forecast period.

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In terms of geography, the Solar PV glass market can be segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Europe currently dominates the global market, followed by North America, and Asia Pacific. However, Asia Pacific is anticipated to expand at a rapid pace, during the forecast period. Asia Pacific is going through a transition phase, wherein it is experiencing a lot of development in terms of infrastructure, industries, among others. This is anticipated to fuel the demand for solar PV glass in the near future. Moreover, rapidly increasing population in this region is one of the major factors driving the need for infrastructure development. This in turn is expected to propel the solar PV glass market.

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