Transparent Solar Cells Market CAGR at 20.1% by 2034

Overview

New York, NY – August 07, 2025 – The Global Transparent Solar Cells Market is projected to reach USD 106.8 million by 2034, up from USD 17.1 million in 2024, with a CAGR of 20.1% from 2025 to 2034. In 2024, Europe led the transparent solar cells market, with a 34.8% share, valued at USD 5.9 million.

Transparent solar cells (TSCs), or transparent photovoltaic cells, harness non-visible light while allowing visible light to pass through, making them ideal for integration into windows, building facades, greenhouses, and electronic devices. Recent innovations, such as perovskite–organic tandem designs achieving 12.3% efficiency at 30% transparency, underscore their potential.

Though still in early commercial stages, advancements are being driven by research from institutions like the U.S. National Renewable Energy Laboratory (NREL) through initiatives like the PV Fleet Initiative, which focuses on transitioning prototypes to commercial applications. Key growth drivers include supportive government policies and regulations. Japan provides significant subsidies, while India enforces local content requirements to bolster domestic production.

The rising demand for building-integrated photovoltaics (BIPV), which blends aesthetics with renewable energy generation, is particularly strong in space-constrained urban areas. Material innovations are enhancing the balance between efficiency and transparency, further fueling market expansion. The global push for energy-efficient buildings, space optimization, and sustainability is propelling the TSC industry.

According to the International Energy Agency (IEA), solar photovoltaics accounted for over 60% of new renewable capacity additions worldwide, with projections to reach 80%. TSCs are well-suited to capitalize on this trend by embedding solar technology into architectural structures, offering urban markets a pathway to reduce carbon emissions. Government initiatives are accelerating TSC development.

Japan has allocated USD 1.5 billion in subsidies to commercialize ultra-thin, flexible perovskite solar cells, aiming for an installation capacity equivalent to 20 nuclear power plants. India’s localization policies support its 500 GW non-fossil fuel target. Additionally, the EU’s REPowerEU and solar rooftop mandates, combined with IEA recommendations for investment de-risking and raw material diversification, are strengthening the global solar energy supply chain.

Key Takeaways

• The Transparent Solar Cells Market is projected to reach USD 106.8 Million by 2034, growing from USD 17.1 Million in 2024, at a CAGR of 20.1%.
• Thin-Film Photovoltaics (TPV) dominated the market, holding more than a 52.8% share of the transparent solar cells market.
• Partial transparency accounted for a dominant share of more than 83.5% in the transparent solar cells market.
• Building Integrated Photovoltaics (BIPV) captured over 47.3% of the transparent solar cells market.
• Europe led the transparent solar cells market, with a 34.8% share, valued at USD 5.9 million.

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Key Market Segments

By Cell Type Analysis

In 2024, Thin-Film Photovoltaics (TPV) led the transparent solar cells market with a 52.8% share. TPV’s dominance stems from its ability to balance transparency and energy efficiency, with its thin-film structure enabling deposition on flexible substrates, ideal for integration into building materials like windows and facades.

The rising demand for energy-efficient solutions in architecture, particularly through building-integrated photovoltaics (BIPV), drives TPV’s market leadership. Its lightweight design, cost-effectiveness, and scalability for mass production further solidify its position as the preferred choice for sustainable urban construction.

By Transparency Type Analysis

In 2024, partial transparency dominated the transparent solar cells market, accounting for 83.5% of the market share. Its versatility in balancing light transmission and energy generation makes it ideal for applications in windows, facades, and other building materials where both visibility and power production are critical.

The growing adoption of building-integrated photovoltaics (BIPV) fuels demand for partial transparency, as it supports visually appealing, energy-efficient building designs. With ongoing advancements in material technologies, partial transparency solutions are becoming more cost-effective and scalable, with continued growth expected in 2025.

By Application Analysis

In 2024, Building Integrated Photovoltaics (BIPV) led the transparent solar cells market with a 47.3% share. BIPV’s prominence is driven by the increasing demand for sustainable, aesthetically integrated energy solutions in construction.

By embedding solar cells into building materials like windows, facades, and rooftops, BIPV generates power without compromising design. The focus on energy-efficient buildings, particularly in urban areas, supports BIPV’s market dominance.

Regional Analysis

In 2024, Europe led the global transparent solar cells market with a 34.8% share, valued at USD 5.9 million. This leadership is driven by the region’s commitment to sustainability, stringent environmental policies, and widespread adoption of renewable energy.

Countries like Germany, France, and the Netherlands are at the forefront, integrating solar technologies into sectors like building-integrated photovoltaics (BIPV). The EU’s target of achieving a 40% renewable energy share by 2030, coupled with initiatives like the European Green Deal and incentives for green construction, drives demand for transparent solar cells in energy-efficient building applications.

Top Use Cases

• Building-Integrated Photovoltaics (BIPV): Transparent solar cells can be embedded in windows, facades, and skylights of buildings, generating electricity while allowing natural light to pass through. This technology supports energy-efficient urban architecture, reducing carbon footprints without sacrificing aesthetics, making it ideal for modern skyscrapers and commercial properties aiming for net-zero energy goals.
• Greenhouse Applications: Transparent solar cells can be integrated into greenhouse roofs and walls, producing power while letting sunlight nurture plants. This dual-purpose solution enhances sustainability by powering greenhouse operations like lighting and climate control, reducing reliance on external energy sources, and lowering operational costs for farmers.
• Consumer Electronics: Transparent solar cells can power devices like smartphones, tablets, and e-readers by integrating into screens. This extends battery life and reduces charging needs, offering a sustainable energy solution for portable electronics, especially in devices requiring sleek designs and constant power availability.
• Automotive Integration: Transparent solar cells can be incorporated into car windows and sunroofs, generating electricity to support vehicle systems or charge batteries in electric and hybrid cars. This enhances energy efficiency, reduces fuel dependency, and supports the automotive industry’s shift toward sustainable, eco-friendly transportation solutions.
• Urban Infrastructure: Transparent solar cells can be applied to bus shelters, street furniture, and walkways, providing renewable energy for lighting and digital displays. This transforms public spaces into power-generating assets, enhancing urban sustainability while maintaining functionality and aesthetics in space-constrained city environments.

Recent Developments

1. Brite Solar

• Brite Solar has been advancing its Agri-PV technology, integrating transparent solar panels into greenhouses to enhance crop yields while generating energy. Their latest innovation includes nanocoating-based solar glass that improves light diffusion and efficiency. The company is also collaborating with European partners to scale up production for commercial applications.

2. Energy Advance

• Energy Advance has developed semi-transparent organic photovoltaic (OPV) cells with improved stability and efficiency. Their recent focus is on BIPV (Building-Integrated Photovoltaics), offering customizable solar windows for smart buildings. They are testing prototypes in urban environments to optimize performance under real-world conditions.

3. Heliatek

• Heliatek, a leader in organic solar films, recently achieved a record efficiency for its transparent solar panels. Their HeliaFilm can be applied to windows and facades, offering UV protection and energy generation. The company is expanding production capacity to meet demand from the construction sector.

4. InQs

• InQs has introduced SQPV (Solar Quantum Photovoltaic) glass, a fully transparent solar cell using rare-metal-free materials. Their latest breakthrough includes indoor energy harvesting, enabling self-powered IoT devices. The company is partnering with Japanese firms to integrate SQPV into smart homes.

5. Onyx Solar Group LLC

• Onyx Solar continues to lead in BIPV solutions, with recent installations in airports and corporate buildings. Their walkable solar floors and transparent photovoltaic skylights are gaining traction. They also launched a new low-carbon glass variant, reducing manufacturing emissions.

Conclusion

Transparent Solar Cells are revolutionizing renewable energy by blending seamlessly into buildings, greenhouses, electronics, and urban spaces. Their ability to generate power while maintaining aesthetics and functionality makes them a game-changer for sustainable urban development. With ongoing advancements in efficiency and cost, their adoption is set to grow, driving energy independence and eco-friendly innovation across industries.

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