Solar Photovoltaic Glass Market Research Report Information by Product Type (Anti-reflective (AR) Coated, Transparent Conductive Oxide and Tempered) By Module (Crystalline Silicon Modules, Amorphous Silicon Modules and Thin Film Modules) By Application (Utility, Residential and Non-Residential), and By Region -Global Forecast to 2032

Solar Photovoltaic Glass Market Overview

Solar Photovoltaic Glass Market Size was valued at 6763.62 USD Million in 2023. The Solar Photovoltaic Glass Market industry is projected to grow from USD 8244.85 USD Million in 2024 to USD 39,087.60 Million by 2032, exhibiting a compound annual growth rate (CAGR) of 21.90% during the forecast period (2024 - 2032). Solar photovoltaic (PV) glass is a glass that converts sunlight into electricity, permitting buildings to generate electricity. It is composed of two glass sheets layered with semiconductor-based cells. PV glass offers thermal and acoustic insulation in addition to letting in natural light.

It is capable of absorbing 99% of UV rays and up to 95% of infrared energy. The glass substrate serves as a semi-transparent or transparent surface that lets light in and shields the solar cells from external elements including dust, weather, and mechanical harm. When sunlight strikes photovoltaic cells incorporated into or applied to glass substrates, they absorb it and produce direct current (DC) power. Through the use of inverters, this DC electricity may be transformed into useful alternating current (AC) electricity for a variety of uses.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Solar Photovoltaic Glass Market Trends

Government Policies and Incentives Across the Globe

Around the globe, governments indorse the utilization of solar energy through laws and other support systems including feed-in tariffs, tax breaks, and subsidies. By reassuring people and companies to invest in solar energy installations, these incentives increase the economic feasibility of solar power. Simplified permitting systems and advantageous regulatory frameworks additionally aid in the industry progress. The growing popularity of solar PV technology is powered by favorable government policies, subsidies, feed-in tariffs, tax breaks, and renewable energy objectives, which raises the need for PV glass. Investments in solar PV systems are encouraged by policies that support the production of clean energy and the reduction of carbon emissions, which drives market expansion.

Some of the keyways in which government policies and incentives drive the global solar PV glass market include:

• Feed-in Tariffs (FITs): Governments harness feed-in tariffs, which secure a fixed price for solar electricity generated over a certain period. This incentivizes venture in solar PV projects by granting certain revenue streams, making solar PV installations economically feasible for developers and investors. Countries like Japan, China, and India have implemented Feed-in Tariffs programs or competitive seeking processes to procure solar power at determined prices. These mechanisms provide revenue certainty for solar PV developers, leading to increased investments in solar installations and demand for PV glass.


• Tax Incentives and Subsidies: Governments offer tax incentives, rebates, grants, and other financial subsidies to encourage investments in solar PV projects. For example, From 26 September 2023, “Solar for Electric Vehicles (442)” scheme, provides grants of up to USD 10,793.9 for the purchase and connection of charging stations, photovoltaic systems, and solar energy storage systems. These encouragements make solar PV installations more inexpensive for residential, commercial, and industrial customers, driving demand for PV glass. Tax incentives for manufacturers of PV components further stimulate the growth of the PV glass market.


• Renewable Energy Targets: Many countries have set renewable energy targets as part of their energy policies to reduce greenhouse gas emissions and promote sustainability. Governments launch specific targets for solar PV capacity additions, pushing the distribution of solar PV systems. To achieve these targets, there is a corresponding increase in demand for PV glass to construction solar panels. For Instance, The European Union (EU) has a target of 42.5% renewable energy in its 2032 budget, which includes solar power. The EU has been producing more renewable energy in recent years, with 22.5% of its 2022 energy utilization coming from renewable sources. Additionally, India has a target of 500 GW of renewable energy capacity by 2032, including 448 GW from solar energy. The country also has a target of achieving 50% of its total electric power from non-fossil fuel-based energy sources by 2032.

Additionally, many other regional and local policies such as "Make in India" and "Atmanirbhar Bharat" has also encouraged domestic production of solar glass. Overall, government policies and incentives play a acute role in stimulating demand for solar PV glass by reducing financial barriers, providing market assurance, and promoting the transition to renewable energy sources. These policies contribute to the growth and development of the global solar PV glass market.

Rising Energy Demand and Urbanization for Building Integrated Photovoltaics (BIPV) Market

Rising energy demand and urbanization generate favorable circumstances for the growth of the Building Integrated Photovoltaics (BIPV) market, dynamic demand for renewable energy solutions that address the energy needs of urban populations while endorsing sustainable development and elasticity in urban environments which in turn drives global PV Glass market during the forecast period.

Increased electricity utilization in urban areas can lead to an increased demand for Building-Integrated Photovoltaics (BIPV), which is a renewable energy solution that can be used to replace conventional building materials. BIPV can be used in parts of the building envelope, such as the roof, skylights, or façades. Urbanization is often accompanied by a surge in energy consumption due to higher population densities and increased economic activities. Urban areas require electricity for various purposes, including lighting, heating, cooling, appliances, and industrial processes. This growing demand for electricity puts tension on existing energy transportation and necessitates the exploration of alternate energy sources like BIPV. BIPV can reduce the amount spent on building materials and labor, and it can also help with more extensive solar adoption. Moreover, BIPV can help reduce the UHI effect by engaging solar radiation, improves insulation, and enhances urban aesthetics.

Additionally, the growing market for BIPV systems drives innovation and technological advancements in PV glass manufacturing. Manufacturers constantly develop PV glass products with developed efficiency, durability, aesthetics, and integration capabilities to meet the evolving demands of the BIPV market. For instance, In December 2023, AGC has announced the integration of Sunjoule, a specialized Building Integrated Photovoltaic (BIPV) glass, into the roof of the bicycle parking lot situated at the Shizuoka Station North Exit Square. The installation of this roof was carried out by TOKAI Cable Network Corporation, enabling the generation of solar power with a remarkable maximum output of 3.7kw using Sunjoule technology. This development highlights AGC's commitment to sustainable and renewable energy solutions in real-world applications. Technological advancements in PV glass contribute to the overall growth and expansion of the BIPV market in response to rising energy demand and urbanization. According to statista, as shown below the global building integrated photovoltaics market estimated a value of around USD 10.8 billion 2022. The building integrated photovoltaics market is expected to experience a steep growth in the next years. Building integrated photovoltaics are materials that perform traditional functions in buildings and generate electricity from the sun. They can replace traditional construction materials such as roofs, facades, and skylights. This multifunctionality offers great potential for the implementation of solar PV in buildings which drives the global PV glass market.

Growing Demand for Solar Energy and Reduced Installation Cost for Solar Photovoltaics Worldwide

The solar energy market is expanding globally, with increasing demand from both developed and developing countries. The increasing adoption of solar energy as a clean and renewable power source presents a significant opportunity for the PV glass market. Rising environmental awareness, government incentives, and energy transition policies drive demand for solar photovoltaic (PV) installations, boosting the need for PV glass as a key component in solar modules. Emerging economies with high solar irradiation levels, rapid urbanization, and growing energy needs represent untapped markets for solar PV installations. PV glass manufacturers can expand their market reach and establish a presence in new geographic regions, leveraging the growing demand for solar energy worldwide.

According to IEA, Solar photovoltaics (PV) maintained its top spot as the most invested in power generating technology in 2022. The year witnessed a record-breaking growth in global solar PV capacity expansion investments of over 20%, surpassing USD 320 billion. In 2022, solar photovoltaics (PV) accounted for over 45% of all worldwide investments in power generation, which is quadruple the amount spent on all fossil fuel technologies combined. PV investment is anticipated to rise in the upcoming years due to aggressive government goals, supportive policies, and rising competitiveness.  The demand for solar energy is not limited to traditional utility-scale solar farms. There's also a growing market for distributed generation, rooftop solar installations, and off-grid solar systems. PV glass finds applications in various segments such as residential, commercial, industrial, and institutional buildings, as well as in agriculture, transportation, and infrastructure projects. This diversification of market segments broadens the opportunities for PV glass manufacturers to address different customer needs and market niches.

Moreover, ongoing technological advancements in PV glass manufacturing, such as improvements in efficiency, durability, transparency, and aesthetics, cost reductions make solar energy more competitive with conventional energy sources. Cost reductions in PV module manufacturing, driven by economies of scale, process innovations, and material advancements, further enhance the affordability and attractiveness of solar PV installations. As PV glass becomes more cost-effective and efficient, the demand for solar energy continues to grow which in turn creates lucrative opportunities for Solar PV glass market.

Technology advancements to lower solar power costs over long term contribute to drive solar energy market in forecast period.  Technological advancements in the solar industry, such as tracking components, digitalization technologies, and solar modules, will lower project costs and boost the overall effectiveness of solar power projects. Furthermore, by the middle to end of the next decade, there is a chance for further notable improvements in conversion efficiencies and considerable cost reductions due to the continuous advancements in solar cell technologies, especially perovskite solar cells. This presents profitable opportunities for the solar PV glass market during the forecast period.

Solar Photovoltaic Glass Market Segment Insights

Solar Photovoltaic Glass by Product Type Insights

The Solar Photovoltaic Glass Market segmentation, based on Product Type has been segmented as Anti-reflective (AR) Coated, Transparent Conductive Oxide and Tempered. Among these, the Anti-reflective (AR) Coated segment is projected to dominate the Solar Photovoltaic Glass Market revenue through the projected period.

The addition of AR coating to PV glass has led to a significant improvement in solar energy efficiency and performance. This AR coating has been designed to reduce the reflection of sunlight from the surface of the glass so that it passes through more light and reaches the photovoltaic cells below. This increased light absorption translates directly into higher energy conversion rates and improved overall efficiency of solar panels. The AR coating is commonly applied as a thin multilayer film that reduces the glass's reflection, ultimately benefiting the solar cells. It is particularly useful in environments with variable lighting conditions, as it helps maintain consistent performance and energy efficiency. By improving light transmission and reducing energy losses, AR-coated photovoltaic glass contributes to more efficient and sustainable solar energy solutions, making it a valuable element in modern solar panel design.

Solar Photovoltaic Glass by Product Type, 2023, 2032 (USD Million)

Solar Photovoltaic Glass by Module Insights

Based on Module, the Solar Photovoltaic Glass Market is segmented as Crystalline Silicon Modules, Amorphous Silicon Modules and Thin Film Modules. Out of which the Crystalline Silicon Modules segment dominated base year market and is also projected to dominate the Solar Photovoltaic Glass Market revenue through the projected period.  

Crystalline silicon modules, which are highly rated and efficient, use high-quality photovoltaic glass to shield the internal components of silicon cells. The glass is constructed to be both strong and transparent, allowing sunlight to reach the silicon cells at maximum capacity while safeguarding them from environmental influences like UV radiation, moisture levels, and mechanical damage. The glass used in these modules often has an anti-reflective coating to further increase light transmission and reduce energy loss due to reflection.

Additionally, the glass is engineered to have optimal thickness and strength, ensuring that the solar panels can withstand various weather conditions and physical impacts. By providing a protective yet transparent layer, PV glass significantly contributes to the longevity and efficiency of crystalline silicon modules, making it an integral component in harnessing solar energy effectively and sustainably.

Solar Photovoltaic Glass by Module, 2023, 2032 (USD Million)

Solar Photovoltaic Glass by Application Insights

The Solar Photovoltaic Glass Market segmentation, based on Application has been segmented as Utility, Residential and Non-Residential. Among these, the Utility segment held the maximum market share and is also expected to account for the significant revenue share during the forecast period.

In large-scale solar energy installations, photovoltaic (PV) glass is an essential element that helps optimize the production of energy and ensure the sustainability of large solar farms. In these utility applications, PV glass is used to cover and protect the photovoltaic cells of solar panels, which are designed to capture and convert sunlight into electricity on a large scale. The glass used in these applications is usually of high quality, tempered and designed to withstand harsh environmental conditions, including extreme temperatures, strong winds and heavy snowfall.

It often features anti-reflective coatings to maximize light transmission and improve the efficiency of the solar panels. By providing a robust, transparent layer, the PV glass enhances the overall performance of utility-scale solar installations, contributing to more efficient energy generation and increased reliability of the solar power infrastructure. Its durability and protective properties are essential for maintaining long-term performance and maximizing the return on investment in large-scale solar energy projects.

Solar Photovoltaic Glass by Application Insights, 2023, 2032 (USD Million)

Solar Photovoltaic Glass Regional Insights

Based on Region, the Solar Photovoltaic Glass market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The Asia Pacific Solar Photovoltaic Glass market held the maximum market share and is also expected to account for the significant revenue share during the forecast period.

Increasing investment in renewable energy has led to the rapid expansion of solar power infrastructure, which is driving the growth of this emerging market in Asia-Pacific. With the increasing efforts of Asian nations such as China, India, Japan, and South Korea to achieve ambitious renewable energy goals and reduce air pollution, PV glass is becoming increasingly popular. This specialized glass is essential for solar panels, because it provides protection for the photovoltaic cells and improves energy efficiency through better light transmission and durability. Technological advancements in glass coatings and manufacturing processes have aided the market in improving the durability and performance of solar panels.

Additionally, government incentives and subsidies for solar energy projects are further fueling market growth. As the Asia-Pacific region continues to lead in solar energy deployment and innovation, the demand for advanced solar PV glass solutions is expected to rise, supporting the transition to a more sustainable and energy-efficient future.

Solar Photovoltaic Glass Regional Insights, 2023 (USD Million)

Solar Photovoltaic Glass Key Market Players & Competitive Insights

The global solar photovoltaic market is characterized by strong competition in the market. The players in the market are majorly involved in expansions, agreements, and new installations to retain their market share. The increasing Solar PV glass demand in utility and non-residential sectors is boosting the sales of Solar PV Glass is the key driver of the market. The vendors compete based on cost, product quality, and the availability of the products according to the geographies. The vendors must provide cost-effective and high-quality Solar PV Glass to compete in the market.

The market players' growth depends on the market and economic conditions, government regulations, and industrial development. Thus, the players should focus on expanding the production capacity to meet the demand and enhance their services. The key players operating in the solar PV glass market include Xinyi Solar Holdings, Nippon Sheet Glass Co, Flat Glass Group Co., Ltd., Onyx Solar Group LLC, Irico Group New Energy Company Limited, and AGC among others. These companies compete on the basis of product quality, innovation, price, customer service, and market share. Companies also engage in various strategic initiatives, such as mergers and acquisitions, partnerships, expansions, and agreements, to enhance their market position and establish their position in the market. For instance, in November 2023, Flat Glass Group Co., Ltd., a prominent manufacturer of solar PV glass in China, announced to invest roughly US$290 million in constructing two photovoltaic module cover glass production projects. These projects, located in Jawa Tengah, Indonesia, will have a combined melting capacity of 1,600 tons per day. This investment demonstrates Flat Glass Group's commitment to expanding its presence in the solar PV glass industry and meeting the growing demand for renewable energy solutions.

Solar Photovoltaic Glass Industry Developments

November 2023: Flat Glass Group Co., Ltd., a prominent manufacturer of solar PV glass in China, announced to invest roughly US$290 million in constructing two photovoltaic module cover glass production projects. These projects, located in Jawa Tengah, Indonesia, will have a combined melting capacity of 1,600 tons per day. This investment demonstrates Flat Glass Group's commitment to expanding its presence in the solar PV glass industry and meeting the growing demand for renewable energy solutions.

December 2023: AGC has announced the integration of Sunjoule, a specialized Building Integrated Photovoltaic (BIPV) glass, into the roof of the bicycle parking lot situated at the Shizuoka Station North Exit Square. The installation of this roof was carried out by TOKAI Cable Network Corporation, enabling the generation of solar power with a remarkable maximum output of 3.7kw using Sunjoule technology. This development highlights AGC's commitment to sustainable and renewable energy solutions in real-world applications.

May 2023: Harrow Council and Polysolar have entered into a partnership to showcase a renewable energy solution. This collaboration aims to demonstrate an innovative concept called Project-A.I.R (Artificial Intelligence Guided Retrofit) at the Grand Designs LIVE event in London. The project is the first of its kind in social housing and focuses on housing decarbonization through the integration of transparent solar PV glass technology.

Key Companies in the Solar Photovoltaic Glass Market includes.

• Xinyi Solar Holdings Limited


• Nippon Sheet Glass Co., Ltd


• Flat Glass Group Co., Ltd.


• Onyx Solar Group LLC


• Irico Group New Energy Company Limited


• AGC


• Borosil Renewables


• Changzhou Almaden Co., Ltd.


• Polysolar


• Vishakha Renewables Pvt. Ltd.

Solar Photovoltaic Glass Market Segmentation

Solar Photovoltaic Glass Product Type Outlook

• Anti-reflective (AR) Coated


• Transparent Conductive Oxide


• Tempered

Solar Photovoltaic Glass Rated Module Outlook

• Crystalline Silicon Modules


• Amorphous Silicon Modules


• Thin Film Modules

Solar Photovoltaic Glass Application Outlook

• Utility


• Residential


• Non-Residential

Solar Photovoltaic Glass Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Spain
  
  
  • Italy
  
  
  • Norway
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • India
  
  
  • Japan
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Latin America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Rest of Latin America
  
  
  
  


• Middle East & Africa
  
  
  
  • GCC Countries
  
  
  • South Africa
  
  
  • Rest of Middle East & Africa