Solar PV Glass Market by Technology, Product, End use and Region-Forecasts, 2024
Sellbyville, DE -- (SBWIRE) -- 03/16/2019 -- Solar PV Glass Market in crystalline silicon module is driven by increasing R&D investments and high operational efficiencies. In 2017, Korea Advanced Institute of Science and Technology in association with Sungkyunkwan University introduced a semi-transparent solar cell for solar windows for automobile and architectural applications. The perovskite integrated cell technology provides smart heat management for indoor activities and produces electricity.
Solar PV glass market from annealed is anticipated to witness substantial growth due to its ease of manufacturing and cost competitiveness. In 2016, the University of Utah developed a laser annealing method in thin film photovoltaic systems with an objective to cut down overall manufacturing costs. Ease of polishing & machining, easy cutting, and product flexibility regarding heat strengthening will further complement the industry outlook.
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The globe is treading toward the path of sustainable energy pertaining to the depletion of fossil fuel sources, which will stimulate solar PV glass market. Of late, the pollution levels across the globe are on a rapid incline, owing to surging usage of fossil fuels that release hazardous gases after the combustion process. The governments of various nations have been implementing stringent norms to reduce the usage of fossil fuels and control the pollution levels, which will favorably influence solar PV glass industry size. Besides, the government is promoting the usage of renewable energy sources by providing considerable financial support in terms of subsidies. According to Global Market Insights, Inc., "Worldwide Solar PV glass market will generate a revenue collection of more than USD 3 billion by 2024."
Technical and financial supports including subsidies, rebates, and asset leveraging, provided by the government bodies will further stimulate the Solar PV glass market. In 2016, the government of France granted a feed-in-tariff premium for various building-integrated photovoltaics installations (BIPV). The average reward was valued between USD 0.15/kWh to USD 0.28/kWh based on the working capacity of the systems.
The float technology is extensively used in thin film photovoltaic modules, pertaining to the key properties such as high flatness, low reflectance, and high light transmittance. Float-based solar PV glass market will collect considerable revenue over the coming timeframe, owing to the surging adoption of this technology subject to its noteworthy features such as uniform thickness, cost effectiveness, and ease of manufacturing process. This technology is particularly used in architectural applications.
Stringent government policies to curb the carbon emissions coupled with increasing installation of sustainable energy sources will boost the solar PV glass market. In 2015, the government of UK introduced a target to substitute the fossil fuel fired power stations across the country with clean energy systems by 2025. The initiative will significantly support its national objective to achieve the long-term emission reduction target of 80% by 2050 with reference to 1990 levels.
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Most of the countries have been investing heavily in technological developments for harnessing solar energy to develop solar powered panels and other appliances. China is one of the leading countries that has taken an initiative toward manufacturing cost-effective and efficient solar panels. As per statistics, China solar PV glass market covered more than 50% of the regional share in 2016 and will collect notable revenue over the years ahead. China holds the top position in the export, consumption, and production of photovoltaic system. In addition, the Chinese government has decided to implement photovoltaic technology over the years ahead to increase the dependency on renewable energy sources, which will impel solar PV glass market.
Key industry player in Solar PV glass market includes Nippon, Sunarc Technology, Onyx, Saint Gobain, Jin Jing Group, Guardian Industries, Guangdong Golden, Vidur Glass, Xinyi, Borosil, Euro Multivision India, Flat Group, Hecker Glastechnik, and Interfloat Corporation.
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