Summary

Global Transparent Solar Panels Market is expected to grow at a significant rate of around 5% during the forecast period. Transparent solar panels are clear/transparent glasses that function exactly like a regular solar panel. The differentiation in transparent solar panels is that they are made using commonplace items like electronics, a sheet of glass, or windows. Transparent solar panels have a huge potential in meeting the world's energy demand by using renewable sources such as natural light. Some major types of solar panels which are already being used include, glass in skyscraper buildings, windows in homes, sunroofs of cars, and even smartphones. Factors such as the growing transition toward electric vehicles coupled with the growing adoption of transparent solar panels in agriculture and military & defense sectors. Major players in the market are working towards the development of transparent solar panels. For instance, in July 2022, Japan’s researchers fabricated a highly transparent solar cell with a 2D atomic sheet. These near-invisible solar cells were developed using Indium Tin Oxide (ITO) as a transparent electrode and tungsten disulfide (WS2) as a photoactive layer.

Ciel & Terre International, JA SOLAR Technology Co. Ltd, KYOCERA Corp, LONGi Solar, Trina Solar, Vikram Solar Ltd, Wuxi Suntech Power Co. Ltd, First Solar Inc., Hanwha Qcells Co. Ltd., Canadian Solar Inc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst type, quantum dot (QD) solar cell category is to grow with the highest CAGR”
Based on type, the market is segmented into thin film photovoltaics (TPVs), near infrared transparent solar cell, polymer solar cell (PSC), perovskite solar cell, and quantum dot (QD) solar cell. The quantum dot (QD) solar cell category is to grow with the highest CAGR. This is because adjusting the size of quantum dots sets the bandgap which enables tuning of energy levels of solar panels. The bandgaps can be expressed by the dots in a variety of sizes without altering the underlying material or production methods which is further increasing the demand for QD solar cells in the market.

“Amongst application, stationary solar panels are expected to have a significant share during the forecast period”
On the basis of application, the market is bifurcated into tracking solar panels and stationary solar panels. Among these, stationary solar panels are expected to have a significant share during the forecast period. This is because these gather and use light energy through a window or glass surface irrespective of the angle and are oriented directly towards the sun’s rays. Also, stationary solar panels have solar concentrators that are comparatively cheaper than solar trackers. This is probably because they are stationary and do not need additional cooling systems which is further increasing the demand in the market. Thus, many players are working towards better designing facilities for solar panels. For instance, In Oct 2022, A team of scientists from École Polytechnique Fédérale de Lausanne in Switzerland specially designed photosensitizer dye molecules. The new transparent solar panels could turn your windows into power sources to keep electricity flowing through towns and cities.

“Europe is anticipated to grow at a substantial CAGR during the forecast period”
Europe is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to technological advancements, rising environmental pollution, the rising price of fuels, and growing awareness among people toward clean energy, high investments by governments of countries such as Germany, Switzerland, and others are expected to drive the growth of the transparent solar panels market. Also, European nations are among the front runner in the renewable energy sector across the globe. For instance, according to EEA early estimates, by 2021, 22% of the energy consumed in the EU, was generated from renewable sources. In addition, in July 2021, Dutch solar project developer Groenleven, a unit of German renewable energy company BayWa re, completed construction on two floating PV plants with an aggregate capacity of 70.9 MW in the Netherlands. Furthermore, with the increasing demand for electricity and low maintenance cost of solar panels leads to cheaper ones in the long run which makes them a good investment in private households. Thus, all these factors are increasing the demand for transparent solar panels in the region.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The Global Transparent Solar Panels Market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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