Building integrated-solar systems have taken solar energy generation to new heights. Photovoltaic (PV) glass panes and array of solar glass have achieved wide commercialization, generating massive interest for consumers and prosumers in solar energy industry. Newer solar glass materials are being merged with facades, terrace floors, windows, and curtail walls, turning them into seats of solar energy generation. Advancements in architectural glasses have enabled buildings to become new spots for generation of free and clean electricity, translating into revenue streams in the solar photovoltaic glass market. Economies fervently looking to adopt renewable energy are generating vast customer propositions for glass manufacturers in the solar photovoltaic glass market.
Green Buildings Spurring Demand; Mass Production Still to Pick Up Pace
Several economies are promoting the adoption of green buildings, riding on the wave of relentless regulatory policy push by governments to achieving carbon footprint targets. On one hand, this implies the adoption of more renewable in the energy mix for buildings, while on the other, this has large implication for boosting renewable power, including solar power generation.
Manufacturers of transparent PV glass in a number of emerging and developed economies are witnessing vast avenue in the solar photovoltaic glass market. Various types of solar glass with different opacities are being tested for their ability to capture light energy—both the ambient and reflected light energy. Manufacturers are keen on improving the efficiency of thin film solar PV glass to work optimally at various optimal levels. In particular, PV glass with high degree of transparency have popped up, spurring their adoption in range of residential and commercial buildings and tailored to specific projects, thus attracting revenue potential in the solar photovoltaic glass market.
However, firms still shy away from mass production of solar PV glass. The business cases of solar PV glasses have yet to reach the desired potential in proportion to soaring demand for increasing capacities of solar power in multiple countries. Industry experts concur that solar PV glass products have largely not been able to convince adopters that these can balance aesthetics with functionality. In simple words, the solar PV glass technology is just not efficient enough to see wider commercialization, as many experts have opined.
Having said that, the scenario is soon going to change, pivoting on massive R&D. Solar PV glass production will soon gather an incredible impetus. The solar photovoltaic glass market is brimming with enormous possibilities, as analysts at TMR have found securitizing the imminent investment pockets and the trend of product innovation.
Glass Companies Expand Product Portfolio—New Glass Technologies to Be Game-Changer for PV Cells
A spate of research by academia and industry alike have focused on developing solar PV glass that are highly resistant to degradation and that are highly transparent. Of note, researchers in the U.S. and Europe are striving incessantly for achieving full transparency for the solar glass. The ways solar energy is absorbed by partially transparent solar panels has also undergone constant advancements. Such technological advancements are expected to become popular for solar panel windows.
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As a result, PV patent filings have risen in recent years especially by firms in China and Europe, underpinning revenue possibilities in the solar photovoltaic glass market. This will help meet the growing demand for aesthetically appealing and highly efficient glass to be used in architectural designs. Indeed, advancements in PV glass are paving the way to solar panel technologies. Industry players are keener than before in overcoming the technical challenges. On the other hand, governments in China, the U.K., and the U.S. are promoting solar glass development to spur solar power production, mainly be easing regulations. Stridently, the initiatives are translating into investments in the solar photovoltaic glass market. A number of companies in Asia Pacific are leaning on boosting solar panel glass manufacturing capacity in order to cater to both domestic demand and requirements in international markets. All these initiatives will catalyze expansion of the solar photovoltaic glass market.