Global Solar Photovoltaic Glass Market Grows at a Staggering CAGR of 29.87%

Introduction

Solar Photovoltaic (PV) Glass is an advanced building material that embeds solar cells within glass panels to harness sunlight and produce electricity. It offers a dual function by permitting natural light to enter spaces while simultaneously generating clean energy. Typically installed in windows, facades, and skylights, PV glass contributes to sustainable architectural designs and helps reduce reliance on conventional energy sources. Available in different transparency levels, it strikes a balance between visual appeal and energy performance. With the rising demand for renewable energy solutions, solar PV glass is becoming an essential element in the development of environmentally friendly infrastructure.

Market Dynamics

Supportive government incentives and subsidies drive the global market

Government incentives and subsidies are playing a crucial role in accelerating the growth of the global solar photovoltaic (PV) glass market. Many countries are actively promoting solar energy initiatives as part of their efforts to achieve carbon neutrality targets.

• For instance, in 2022, the U.S. government enhanced the Investment Tax Credit (ITC), providing a 30% tax credit for solar system installations until 2032, thereby driving greater adoption. Similarly, India’s "PM Surya Ghar Muft Bijli Yojana," introduced in 2024, seeks to equip 10 million households with rooftop solar panels, significantly boosting the need for solar PV glass.

Additionally, subsidized loans, tax incentives, and feed-in tariffs across Europe and Asia are further encouraging solar energy projects. These supportive measures are fueling not only the development of large-scale solar farms but also increasing demand for high-performance, durable PV glass that enhances energy efficiency.

Development of next-gen perovskite and bifacial solar cells creates tremendous opportunities

The emergence of next-generation perovskite and bifacial solar cells is unlocking substantial growth opportunities for the solar photovoltaic (PV) glass market. High-performance PV glass plays a crucial role in enhancing the efficiency, durability, and light absorption capabilities of these advanced technologies.

• For example, in April 2024, Bluebird Solar launched 600 Wp n-type TOPCon dual-glass bifacial modules in India, achieving a power conversion efficiency of 23.25%. These modules incorporate a 16-busbar design and anti-reflective coatings to optimize sunlight capture, making them particularly effective in high-temperature environments like India.

These technological advancements highlight the rising demand for specialized PV glass solutions. As the global push for more efficient and durable solar panels intensifies, manufacturers specializing in advanced PV glass are poised to experience significant growth in the years ahead.

Regional Analysis

Asia-Pacific dominates the global solar photovoltaic glass market, driven by aggressive solar adoption initiatives and massive renewable energy investments. China, the world's largest solar producer, continues to expand its solar PV infrastructure with projects like the Datong Solar Power Top Runner Base. India is rapidly scaling rooftop solar installations under its “Solar Cities” program, boosting demand for advanced PV glass solutions like anti-reflective and tempered variants.

Southeast Asian countries, such as Vietnam and Malaysia, are emerging as key solar hubs, with Vietnam’s Dau Tieng Solar Project being a notable example. Japan’s integration of transparent solar glass into urban building facades, especially in Tokyo’s smart city projects, highlights the growing trend of BIPV (Building Integrated Photovoltaics). Additionally, Australia’s focus on residential solar and solar farms, like the Sun Cable Project, further propels the region’s solar photovoltaic glass market.

Key Highlights

• The global solar photovoltaic glass market size was valued at USD 17.04 billion in 2024 and is estimated to grow from USD 22.13 billion in 2025 to reach USD 179.08 billion by 2033, growing at a CAGR of 29.87% during the forecast period (2025–2033).
• By type, the global solar photovoltaic glass market is segmented into photovoltaic glass, multifunctional glass, AR-coated glass, tempered glass, and others.
• By grade of transparency, the global solar photovoltaic glass market is segmented into low transparency, medium transparency, and high transparency.
• By application, the market is bifurcated into curtain walls, facades, skylights, solar PV panels, glazing, windshields, and others.
• By end-user, the market is classified into residential, commercial, industrial, and utility sectors.
• Asia-Pacific is the highest shareholder in the global market.

Competitive Players

1. AGC Inc.
2. Saint-Gobain S.A.
3. Nippon Sheet Glass Co., Ltd.
4. Guardian Glass
5. Xinyi Solar Holdings Limited
6. Flat Glass Group Co. Ltd.
7. Borosil Renewables Limited
8. Sisecam Group
9. Interfloat Corporation
10. Taiwan Glass Industry Corporation

Recent Developments

• In January 2025, Borosil Renewables Limited, a leading producer of solar glass, announced plans to boost its manufacturing capacity by 50%. With this expansion, the company's daily production will rise from 1,000 tons to 1,500 tons. The move comes in response to challenges faced by India’s solar glass industry, particularly the influx of low-cost solar glass from Chinese-owned firms.

Segmentation

1. By Type
   1. Photovoltaic Glass
   2. Multifunctional Glass
   3. AR Coated
   4. Tempered
   5. Others
2. By Grade of Transparency
   1. Low Transparency
   2. Medium Transparency
   3. High Transparency
3. By Application
   1. Curtain Walls
   2. Facades
   3. Skylights
   4. Solar PV Panels
   5. Glazing
   6. Wind Shield
   7. Others
4. By End-user
   1. Residential
   2. Commercial
   3. Industrial
   4. Utilities
5. By Regions
   1. North America
   2. Europe
   3. Asia-Pacific
   4. Latin America
   5. The Middle East and Africa