Asia Pacific Solar PV Glass Market: By Glass Type (3.2 mm, 2 mm), By End-User (Residential, Commercial), and Country  

Asia Pacific Solar PV Glass Market is experiencing significant growth, with installed and glass consumed volume reaching 3,316.6 million sq. mts in 2023 and projected to grow at a CAGR of 6.1%. Solar PV glass, which converts solar energy into electricity using solar cells, is gaining traction in Asia Pacific countries due to increased demand for solar PV installations, decreasing PV module prices, and rising rooftop solar installations, particularly in the residential sector. Technological advancements are revolutionizing the market, enhancing efficiency and affordability through innovations in panel designs, energy storage, and smart grid technologies. The integration of AI and machine learning is optimizing energy production and reducing costs.

In November 2023, perovskite tandem solar cells set a new world record for efficiency, surpassing the previous record set just months earlier. China's 2022 renewable energy accommodation policy maintains the Renewable Portfolio Standards (RPS), emphasizing non-hydro renewable energy in power transmission among provinces. This policy aims to improve energy security, lower carbon emissions, and encourage sustainable energy development. Despite challenges like supply chain limitations and permitting obstacles, the Asia Pacific solar PV glass market is expected to transform, with M&A activity predicted to increase significantly in 2024. Researchers have made progress with multi-junction PV cells, achieving efficiencies over 45%. Bifacial solar panels, capturing light on both sides, show 30-40% higher efficiency when combined with sun-tracking technology. Agrivoltaics, integrating solar panels with farmland, addresses land-use conflicts and can increase farm yields.

However, limitations on PV efficiency, geographic constraints, and lack of awareness hinder adoption. In India, dependency on Chinese imports led the government to launch programs like the Production Linked Incentive (PLI) plan to boost domestic production capacity and competitiveness. The local solar sector was further supported by government initiatives such as the basic customs duty on imported solar modules, aiming to reduce reliance on imports and strengthen the domestic industry.

Asia Pacific Solar PV Glass Market Key Developments:

• In July 2024, Waaree Energies has secured a contract to supply 900 MW of n-type TOPCon dual-glass bifacial modules for Serentica Renewables’ solar PV project in the Jaisalmer district of Rajasthan.
• In July 2024, Australian scientists and Google's electricity R&D team developed a 'smart' inverter, claimed to be nearly twice as fast and 50% more efficient than existing commercial models. It communicates with grid devices, accurately detects voltages and currents, and acts to maintain grid stability