Transparent Solar Cells Market: Overview

  • Transparent solar cells are artificially designed solar cells that have the ability to turn everyday products such as electronic devices, sheet of glass, or windows into power generators without altering their look or functions
  • These new solar cells are able to absorb infrared and ultraviolet light from the sun. Visible light passes through the transparent cells unimpeded, so that they are not visible to the naked eye. Researchers working on transparent solar cells have deposited coatings of solar cells on various materials and eventually used them to run electronic devices using solar light.
  • Integrating transparent solar cells onto new and existing infrastructure facilities for power generation can help achieve the realization of net zero-energy buildings along with significant improvement in energy utilization efficiency and supply of on-site energy demand with minimal compromise to the functionality or the esthetic quality of mobile and architectural surfaces
  • Transparent solar cells can be deposited on any surface without obscuring the look of the underlying material. Current versions of the transparent solar cells are able to transmit more than 70% of the visible light, which is usually within the range of tinted glass being used in the windows of buildings.

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Key Drivers of Global Transparent Solar Cells Market

  • Growth in transition toward electric vehicles is likely to provide immense opportunities to manufacturers of transparent solar cells. Transparent solar cells can be used to add solar-generating capacity to vehicles without hampering their esthetics. This is expected to drive the global transparent solar cells market during the forecast period.
  • Introduction of government subsidies and initiatives in renewable energy across the world is boosting the usage of solar power. This is projected to create lucrative opportunities for the global transparent solar cells market during the forecast period.
  • Companies are striving to introduce sustainable and clean sources of energy in order to limit carbon emissions. This is anticipated to augment the transparent solar cells market during the forecast period.
  • Large monuments and structures, such as buildings, bridges, stadiums, and even roads, can be converted into a base for generating clean electricity by using transparent solar cells

Restraints of Global Transparent Solar Cells Market

  • Lack of longevity is one of the key disadvantages of transparent solar cells. In commercial applications such as window coatings or electronic displays, solar cells must be able to perform well for long duration of time. Scientists responsible for the development of transparent solar cells are working to extend the lifetime of related products such as LEDs.
  • The cost of implementing this technology is expected to vary with the solar cell efficiency and its application. This is another disadvantage of transparent solar cells that is anticipated to hamper the market during the forecast period.
  • Transparent solar cells can provide efficiency of 2%, which is less than a conventional solar cell (15%-18%). This is also estimated to adversely affect the transparent solar cells market in the near future.

Major Developments

  • In 2019, researchers at South Korea’s Ulsan National Institute of Science and Technology (UNIST) created a transparent crystalline silicon solar cell by drilling micro-holes measuring about 100 μm in diameter into the cell surface. A neutral colored, transparent c-Si substrate was used to develop the new cell, which is said to have an efficiency of up to 12.2%.

Europe to Hold Major Share of Global Transparent Solar Cells Market

  • Based on region, the global transparent solar cells market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
  • Europe is likely to dominate the global transparent solar cells 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 during the forecast period.
  • The European Union (EU) targets to achieve 20% share of energy from renewable energy sources (RESs) in the final energy consumption by the end of 2020. This is estimated to drive the market in the region during the forecast period.
  • In North America, the size of the renewable energy industry in the U.S. is expected to double by the end of the forecast period. Renewable energy projects in the country are expected to benefit from multi-year federal tax incentives and several state-level policies that promote the use of solar energy.
  • Asia Pacific is anticipated to be a key region of the global transparent solar cells market during the forecast period, led by rise in concerns about air pollution and carbon emissions in India and China

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Key Players Operating in Global Transparent Solar Cells Market

  • The global transparent solar cells market is in the nascent stage

Global Transparent Solar Cells Market, Research Scope

Global Transparent Solar Cells Market, by Type

  • Thin Film Photovoltaics (TPVs)
  • Near Infrared Transparent Solar Cell
  • Polymer Solar Cell (PSC)
  • Perovskite Solar Cell
  • Quantum Dot (QD) Solar Cell

Global Transparent Solar Cells Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • 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
  • Europe
  • 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.

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Transparent Solar Cells Market

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