Solar PV Glass Market to See Huge Growth by Leading Manufacturers in COVID 19: AGC Solar, Nippon Sheet Glass Co., Ltd., Taiwan Glass Ind. Corp., Xinyi Solar Holdings Ltd., Sisecam Flat Glass, Guardian Glass, Saint-Gobain Solar,

Overview-

Solar Photovoltaic glass (PV glass) is a technology that enables the conversion of light into electricity. To do so, the glass incorporates transparent semiconductor-based photovoltaic cells, which are also known as solar cells. Photovoltaic glass is not perfectly transparent but allows some of the available light through. It is being integrated into buildings in the form of windows, roof panels, and building panels. Solar PV glass market size surpassed US$ 2 billion in 2016.

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Drivers-

PV glass reduces carbon footprint, which helps maintain environmentally-friendly standards of clean energy. According to IEA org, the share of renewables in meeting global energy demand is expected to grow by one-fifth in the next five years to reach 12.4% in 2023. Renewables will have the fastest growth in the electricity sector, providing almost 30% of power demand in 2023, up from 24% in 2017. The increasing demand for renewable energy, due to growing awareness regarding global warming, in turn, is increasing demand for PV glass, thus boosting the growth of the market. The rising importance of limiting greenhouse gas emissions is the key catalyst for market growth.

Restraints-

The high installation cost of solar PV glass restricts the growth of the solar PV glass market.

Regional Insights-

The Asia Pacific is the dominant market for solar photovoltaic glass. Growth in population and insufficient energy supply in the region will lead to the growth of this market. According to Solar Power Europe, China held more than 50% of the global solar PV glass market share in 2016 and will continue its dominance till 2024. The country stands as the major producer, exporter, and consumer of PV systems and strives to conduct R&D initiatives to improve the efficiency and costs of the panel.

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Competitive section-

Key players operating in the solar photovoltaic glass market include AGC Solar, Nippon Sheet Glass Co., Ltd., Taiwan Glass Ind. Corp., Xinyi Solar Holdings Ltd., Sisecam Flat Glass, Guardian Glass, Saint-Gobain Solar, Borosil Glass Works Ltd., Flat Glass Co., Ltd., Interfloat Corporation, Guangdong Golden Glass Technologies, Hecker Glastechnik GmbH & Co. KG, F solar GmbH, Emmvee Toughened Glass Private Limited, and Euroglas.

In June 2018, AGC Solar partnered with Ubiquitous Energy for strategic development for transparent solar glass technology.

In January 2020, NSG Group announced that the float furnace to produce TCO (transparent conductive oxide) coated glass for solar panels started operation on January 19, 2020. The previously dormant float furnace was upgraded as part of the plan announced in May 2018 to expand the production capacity of TCO glass to support the growing solar market.

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