Solar Skin: Introduction
- Solar skin can be considered an esthetic modernization of solar panels. Solar skin can make the panel suitable for usage in roofs of various patterns, colors, or styles in residential and commercial buildings.
- Solar skin uses selective light filtration that allows simultaneous display of a vibrant image. It transmits sunlight toward the underlying solar panel with minimal loss in efficiency.
- Solar panels with solar skins can achieve efficiency rates of about 15% to 17%, which is considered equal or even a little better than the average commercially available panel
- Solar skin can be used on bus windows, as it allows light to filter through the solar skin to photovoltaic cells beneath it
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Key Drivers of Global Solar Skin Market
- Rise in transition toward renewable energy is likely to offer significant opportunities to lease providers due to the long-term benefits of solar energy. This is expected to drive the global market for solar skin during the forecast period.
- Government subsidies for solar power across the world can be leveraged by solar skin manufacturers. This is anticipated to offer considerable opportunities to the global solar skin market during the forecast period.
- According to the Department of Energy in the U.S., almost 13 million homes across the country do not adopt solar energy, as they do not like the look of the panels. Solar skin would eventually encourage home owners to install solar panels. This is expected to drive the solar skin market.
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Restraints of Global Solar Skin Market
- Solar skin panels usually add about 10% to the total cost of a solar system. This is one of the major restraints of the global solar skin market. However, it is a small price to pay for people who find panels to be unattractive, but still want the financial and environmental benefits of solar panels.
- In October 2019, Energy Foundry, a Chicago-based venture fund that invests in early-stage energy and clean-tech startups, announced that it had invested US$ 3.2 Mn in Sistine Solar, which is scaling up deployment of its SolarSkin product. Energy Foundry, Massachusetts Clean Energy Center (MassCEC), and Thin Line Capital join are currently angel investors in this round.
- In March 2018, Sistine Solar, the maker of SolarSkin, launched the SolarSkin Design Studio, an online platform that allows homeowners to customize the look and feel of their solar installations using the Department of Energy-backed solar panel-attached graphics. Homeowners can design solar panels that blend in with their existing roofs, whether those roofs are made of green architectural shingles, red Spanish tiles, or any other material.
COVID-19 Impact Analysis
- The global economy has been hampered by the measures put in place to contain the COVID-19 pandemic. The solar industry is estimated to face immediate challenges due to the COVID-19 pandemic such as difficulty in adhering to the social distancing norms, shortage of manpower, lack of parts & equipment, and discerning expenditure by end-users.
- Currently, the solar industry imports almost 80% of all of its equipment and parts in the value chain from China. The COVID-19 pandemic has adversely affected the manufacturing capacities of China. Most of the ship container companies have stopped functioning out of Chinese ports. Major economies such as India have stopped transportation of goods from China.
Europe to Hold Major Share of Global Solar Skin Market
- Based on region, the global solar skin market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Europe is likely to dominate the global solar skin market during the forecast period. High investments, especially by governments of countries such as Germany, and technological advancements are projected to drive the market in the region from 2020 to 2030.
- The European Union (EU) aims to achieve 20% share of energy from renewable energy sources (RESs) in the final energy consumption by the end of 2020. This is expected to drive the market in the region during the forecast period.
- On the other hand, the size of the renewable energy industry in the U.S. in North America is anticipated to double by the end of the forecast period. Renewable energy projects in the country are likely to benefit from multi-year federal tax incentives and several state-level policies that promote the use of solar energy in the next few years.
- Asia Pacific is projected to offer significant opportunities to the global solar skin market during the forecast period, due to rise concerns about air pollution and carbon emissions in India and China. Additionally, government tariff and policies promoting the use of solar technology are expected to propel the solar skin market in Asia Pacific.
Key Players Operating in Global Market
Sistine Solar is the key player operating in the global solar skin market. Companies that use solar panels equipped with Sistine Solar’s solar skins include:
- LG Electronics
- Solaria Corporation
- Canadian Solar
- Trina Solar
- Q CELLS
- SunPower Corporation
Global Solar Skin Market, Research Scope
Global Solar Skin Market, by Type
- Photovoltaic Films
- Dual Glass
- Solae Embedded Windows
Global Solar Skin Market, by Application
Global Solar Skin Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.