Growing inclination towards renewable energy sources to spur the usage of solar shingles

Solar shingles, or photovoltaic shingles, are solar panels that are designed in a way that makes them function like traditional roofing material. They also look similar to regular shingles which makes them compatible with any building décor. They reduce the necessity for an installation area required for conventional solar panels.

One major advantage of using solar shingles is that they can be used along with traditional shingles to cover complex roofs. In addition, these shingles can resist extreme climatic conditions like heavy snow, hail and strong winds.

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More importantly, these shingles have an extensive lifespan of around 40 years which matches the lifespan of high-quality asphalt shingles. With such a long list of advantages, solar shingles will experience a significant demand over the coming years.

Speaking of which, the solar shingles market revenue will proliferate at a substantial rate throughout the projected timeframe.

Rising demand for sustainable infrastructure

Following the Paris Agreement for climate change, many nations are heavily investing in the development of sustainable, environment-friendly infrastructure. This new development will focus on the management of water, land and more importantly, energy. In addition, sustainable building materials will be used for not only developing new constructions but also redesigning, retrofitting existing ones to meet the latest construction standards.

Components like solar shingles will play a crucial role in establishing these sustainable structures as their usage results in significant financial savings right from installing them to using them regularly. Combining this with growing public consensus regarding the conservation of the environment, the usage of solar shingles is likely to boost during the projected timeframe.

Solar shingles industry to witness increasing adoption across Middle East & Africa

Many of the African countries are devoid of conventional electrical supply owing to lack of grid infrastructure in the region. But their geographical location works as a silver lining. African countries like Gabon, Uganda, Somalia, Democratic Republic of Congo, Kenya are closer to the equator. This leads into the availability of solar energy in huge volumes. With the unavailability of grid infrastructure, off-grid energy solutions can prove beneficial for electrifying households in the region. Considering these factors, the market for solar shingles has immense growth opportunities in the region.

Increasing construction projects in Asia Pacific

Growing concerns pertaining to the conservation of environment have made governments invest heavily in environment-friendly commercial and residential projects. This is bolstered by the increasing population of countries like China and India. With the growing adoption of sustainable construction technologies, building components like solar shingles will be used extensively for creating this infrastructure. Looking at these factors, the solar shingles industry will prosper over the coming years.

Innovative strategies by key industry players

Many key market players are releasing innovative products to strengthen their position in the market. For instance, Tesla’s Solar Glass Tiles have received a design upgrade, named ‘Solar Glass Roof’ which now comes with a 25-year warranty. The company has announced that they plan to release new designs every nine months. Such accelerated developments will help in the development of the solar shingles industry.