Increasing Demand and Decreasing Prices Offer Bright Future for Solar PV Glass Market
The growing use of solar panels across different sectors, coupled with decreasing prices, is augmenting the demand for solar PV glass worldwide.
According to a report from Knowledge Sourcing Intelligence, the solar photovoltaic (PV) glass market is projected to grow at a CAGR of 15.6% to reach $11.7 billion by 2023 (from $4.9 billion in 2017). The growing use of solar panels across different sectors, coupled with decreasing prices, is augmenting the demand for solar PV glass worldwide.
Rising awareness regarding clean energy usage is also fueling demand for solar PV glass for residential applications. Rising investments by governments and favorable initiatives and policies to encourage the use of solar energy will also contribute to the growth of solar PV glass market during the forecast period.
Geographically, North America holds a significant market share due to a growing focus on the use of renewable energy sources. Meanwhile, the Asia-Pacific region is expected to witness a significant CAGR during the forecast period due to rising solar generation capacity.
Additional details are available at www.knowledge-sourcing.com.