Solar Shingles

Solar Shingles

The adoption of solar shingles is rapidly increasing, and continuous advancements in technology and significant investments are being made in the sector, coupled with government initiatives to achieve carbon neutrality. Moreover, increased investments in research and development have led to the development of more efficient and aesthetically appealing solar shingle designs, making them an attractive option for homeowners.

Solar shingles' longer lifespan than traditional solar panels is also contributing to their increased adoption. Solar shingles are constructed with highly durable materials that can withstand harsh weather conditions, assuring a longer lifespan for the panels.

The rise of smart homes and smart cities has also played a crucial role in propelling the demand for solar shingles, integrating with smart home technologies, allowing homeowners to monitor and control their energy consumption more efficiently. Technology advances and reduced prices have increased the number of players offering these services.

According to SolarPower Europe, in 2023, countries across the globe are expected to install between 341 and 402 GW of solar energy, which equals 43% growth.

For instance, in October 2019, Tesla announced its plans to launch Solar Roof V3, a new version of its solar roof tiles. The company also disclosed the ramping up its solar roof tile production to 1,000 roofs per week through the end of the year.

• Based on type, the Solar Shingles are divided into Silicon Solar Shingles and Copper Indium Gallium Selenide (CIGS) Solar Shingles. The Silicon Solar Shingles systems are anticipated to capture a significant market share in the forecast period, owing to their wider adoption in developed countries as these panels offer more efficiency compared to CIGS shingles and have an increased adoption in countries with lower solar radiations. CIGS Solar Shingles Solar Shingles are also anticipated to capture a significant market share as they are comparatively cheaper. Moreover, CIGS solar shingles are thin-film based, thus offering more flexibility and having a sleeker, more aesthetically pleasing appearance. Crystalline silicon solar shingles are very similar to traditional solar panels, as they are rigid in shape. They also have a thin frame, which matches conventional roofs and is installed in line with the existing roof materials. The foremost advantage of silicon solar shingles is their aesthetic appeal. Unlike bulky solar panels, these shingles blend effortlessly with the architecture of residential and commercial buildings, maintaining the traditional roof appearance. CIGS solar shingles seamlessly integrate into the architecture of a building, thus making them a popular choice among homeowners and commercial buildings. Moreover, the lightweight and flexible nature of CIGS solar shingles makes them easier to install compared to traditional silicon-based panels.
• Based on end-user, the Solar Shingles are divided into Residential, Commercial, and Industrial sectors. The residential segment is anticipated to capture a significant market share in the forecast period as homeowners widely use these solar shingles and have complete integration with the roof, making the house look futuristic and elegant. The commercial segment is also anticipated to witness significant growth in the market due to the increasing adoption of renewable energy sources in commercial buildings, such as offices, warehouses, and retail stores. The industrial segment is expected to capture the least share in the solar shingles market due to the high initial cost associated with the installation of solar shingles.
• For a better understanding of the market adoption of the solar shingles industry, the market is analyzed based on its worldwide presence in countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Europe is expected to experience a significant growth rate in the projected period. The Asia Pacific Solar Shingles market is estimated to witness notable growth owing to rising government initiatives towards renewable sources and clean energy, thus increasing the adoption of solar shingles. Furthermore, countries like China, Japan, and Australia have been actively investing in solar energy, leading to a surge in the adoption of Solar Shingles. The growing emphasis on Net Zero Building (NZB) standards in Europe has prompted architects and developers to pursue construction practices that significantly reduce or eliminate carbon emissions.
• Some of the major players operating in the market include Sunflare, GAF Energy, Tesla, Certainteed, LLC, Solteq, SunTegra Solar, Sunroof.se, Ergosun, RGS Energy, and FlexSol Solutions B.V.