Solar Windows: Introduction
- Solar windows are usually windows that function as solar panels to harvest the solar energy from the Sun and convert it to electricity. Solar windows are used on residential and commercial buildings with little to no upfront costs.
- Solar windows can be purchased as separate units or could be created by applying a photovoltaic film onto the glass of the window. Furthermore, some manufacturers create independent solar windows by sandwiching existing solar panel cells between two layers of glass.
- Solar independent window units are also made from photovoltaic glass in which invisible wires are utilized to collect energy made from the photovoltaic glass and subsequently, transfers it to the power grid
- Solar windows make solar photovoltaics virtually applicable to every household, even those in skyscrapers of the mega-cities around the globe
- Solar windows are generally considered ‘building-integrated photovoltaics’ or BIPV technology. BIPV technologies offer certain benefits. Moreover, they are esthetically more appealing and convenient to maintain as compared to conventional solar options that are available depending on the type of its installation.
Key Drivers of Global Solar Windows Market
- Surge 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 windows during the forecast period.
- Business models and mutual financing options play a key role in driving the solar windows market. Dense urban areas in several cities across the globe could benefit from this technology owing to large vertical window space and a lack of rooftops for solar panels. Moreover, solar windows could also help meet peak energy demands.
- Government subsidies for solar power across the world can be leveraged by solar window manufacturing companies. This is estimated to offer considerable opportunities to the global solar windows market during the forecast period.
Restraints of Global Solar Windows Market
- Solar windows cost an estimated 40% more than traditional windows options. Additionally, traditional solar panels are more efficient and cost-effective than solar windows. Thus, building owners who have the space for solar panels would be not interested in solar windows. This is likely to restrain the global solar windows market during the forecast period.
- Solar windows could be able to transform the photovoltaics industry; albeit, a lack of sufficient real-world testing of the technology has been unable to conclusively prove its financial viability in the near future. This is expected to restrain the solar windows market in the near future.
- In April 2020, a team of scientists from Australian Research Council’s Center of Excellence in Exciton Science in Australia have produced next-gen perovskite solar cells with a conversion efficiency of 17%, which they say can transform windows into power generators. The semi-transparent solar cells are able to generate electricity while allowing light to pass through them.
- In March 2020, an Italy-based startup company Glass to Power, announced the development of a luminescent solar concentrator technology, which can be integrated with active architectural windows and elements. It also announced that the technology is based on nanoparticles, known as chromophores, which can decouple the absorption and light emission processes. The company also claimed that the new technology achieved a conversion efficiency of up to 3.2%, with a degree of transparency in the visible spectrum of around 80%.
Europe to Hold Major Share of Global Solar Windows Market
- Based on region, the global solar windows market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Europe is likely to dominate the global solar windows 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 windows market during the forecast period, due to a rise concerns about air pollution and carbon emissions in India and China. Additionally, government tariff and policies toward the use of solar technology is likely to propel the solar windows market in the region.
Key Players Operating in Global Market
Major players operating in the global solar windows market include:
- Glass to Power
- SolarWindow Technologies, Inc.
- Brite Solar
- Solaria Corporation
- Onyx Solar Group LLC
Global Solar Windows Market, Research Scope
Global Solar Windows Market, by Type
- Photovoltaic Films
- Dual Glass
- Solae Embedded Windows
Global Solar Windows Market, by Application
Global Solar Windows 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.