Solar Photovoltaic Glass Market Size, Share, Growth Analysis, By Type(Anti-reflective coated glass, tempered glass, and others), By End Use(Residential, commercial, and utility-scale solar projects), By Region - Industry Forecast 2024-2031

Solar Photovoltaic Glass Market Drivers

Increasing demand for clean energy

• One of the major drivers of the solar PV glass market is the growing demand for clean and renewable sources of energy. The adoption of solar energy is increasing due to the rising concerns over environmental pollution, global warming, and the depletion of non-renewable resources. For instance, China, which is the largest market for solar PV glass, is aiming to increase the share of renewable energy in its total energy mix to 35% by 2030, as part of its commitment to the Paris Climate Agreement.

Favorable government policies

• The adoption of solar energy is being encouraged by governments all over the world, which is boosting demand for solar PV glass. For instance, the federal government of the United States has extended the Investment Tax Credit (ITC) for solar installations, enabling individuals and organizations to get tax credits totaling up to 26% of the price of their solar energy systems. Similarly, the Indian government has launched the National Solar Mission, which aims to achieve 100 GW of solar capacity by 2022.

Solar Photovoltaic Glass Market Restraints

High costs of installation

• The high costs associated with the installation of solar PV glass systems are a major restraint to the growth of the market. The cost of solar panels and other components required for solar energy systems, such as batteries and inverters, can be expensive, which makes it difficult for individuals and businesses to adopt solar energy. 

Dependence on weather conditions

• Solar energy systems are dependent on weather conditions, such as sunlight and temperature, which can impact their efficiency and output. This can be a major restraint to the adoption of solar energy, especially in regions with low levels of sunlight or extreme weather conditions. For example, in regions with high levels of cloud cover or rainfall, the output of solar energy systems can be significantly reduced.