Progress in Building Integrated Photovoltaics to Create Opportunities for Global Solar Control Glass Market
The global solar control glass market is predicted to grow at a compound annual growth rate (CAGR) of close to 9% by 2019, according to a recent report from Technavio. The research study covers the present scenario and growth prospects of the global solar control glass market for 2015-2019. The report also lists commercial buildings, residential buildings, and automotive as the three major segments where the use of solar control glass is used the most.
Building-integrated photovoltaics (BIPVs) are materials that are largely used in the construction of new buildings as the major source of electrical power, rather than traditional building materials. They are used in many applications such as vertical and horizontal surfaces, which help in generating solar energy in wider areas. Moreover, the marginal additional cost of a BIPV installation makes the market the fastest-growing segment of the PV industry.
“The recent innovations and advances in BIPV products such as colored, transparent, and insulated BIPV windows will further create prospects in the market,” said Debasish Nayak, analyst. “This continuous growth in the BIPV market will create opportunities in the solar control glass market owing to the rising awareness toward carbon emissions globally.”
Solar control glass is mainly used in residential and commercial buildings, which will propel demand in the market. Solar control glass helps in cutting heat and allows optimum light to penetrate the buildings. Moreover, the increasing shift toward the need for eco-friendly and energy-efficient infrastructure and buildings will fuel the growth of green buildings. Another driver influencing the growth of the solar PV market is subsidies by various governments such as FIT programs, investment tax credit, and other tax benefit schemes. Globally, governments are supporting the development of solar PV technology by encouraging the use of power purchase agreement (PPA). These instruments are designed to encourage investment in technologies related to renewable energy generation.
Thermal power generation is a leading cause of air pollution and the single largest source of global warming and CO2 emissions. As a result, countries such as China, India, and the U.S. have started investing in clean technology. This is an area where PV has an edge because it produces clean and renewable solar electricity from a free and nearly infinite resource (i.e., sunlight). Thus, the need for clean sources of energy will drive the market over the next few years.
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