Flexible Solar Panel Market Size, Share & Industry Analysis By Type (Amorphous Silicon, Cadmium Telluride, Copper Indium Gallium Selenide, Others), By Applications (Commercial, Residential, Others) and Regional Forecast, 2024-2032

Electrical energy is the basic need today, and its demand is increasing all over the world. Also, the need for an alternate source for energy has gained importance, and as solar energy is renewable energy backed with the government's ambitious green energy targets, it has become a significant attraction for investors. Over the last decade countries like China, Germany, India, and USA have come up with solar powerhouses and increased the production of electricity by using solar energy which in turn has helped the flexible solar panel market to grow.

The flexible solar panel offers new possibilities for the application of the solar panel. The flexible solar panel is very thin and lightweight. The flexible solar panel is more adaptable than the rigid and traditional panel. The flexible solar panel is based on thin-film technology. Thin films can be deposited on low-cost substrates and fabricated on module sized substrates.

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The advantage of a flexible solar panel is roll-to-roll manufacturing to produce monolithically interconnected solar modules leading to low time for energy payback because of high-throughput processing and to the low cost of the overall system. Flexible solar panels can be rolled up for storage or transportation and unrolled for use. Such systems are significantly more portable and rugged than traditional solar panels.

On the basis of type, the flexible solar panel market can be segmented into A-Si (Amorphous Silicon) Flexible module, Flexible CdTe (Cadmium Telluride) module, Flexible CIGS (Copper Indium Gallium Selenide) module, etc. Flexible A-Si module is in demand for applications in low to medium range of power. They can be made in different shades. Flexible CdTe (Cadmium Telluride) module is suitable for integration in building, automotive, etc.

Flexible CIGS (Copper Indium Gallium Selenide) module has excellent potential for space applications. Various other materials for flexible solar panels are under research and development. The flexible solar panel market can also be segmented on the basis of application in various fields like residential, commercial, and others.

The major market driver for the global flexible solar panel market is the increasing inclination towards building-integrated photovoltaics. Flexible solar panels due to their lightweight can be used in buildings. Flexible solar panels do not require special support infrastructure. It is easier to install flexible solar modules. With the provision of government incentives and tax rebates over the installation of solar panels, flexible solar modules will witness considerable growth.

The key market restraint for the global flexible solar panel market is the high capital cost as compared to traditional solar panels. The efficiency of flexible solar modules is less as compared to the conventional panel. 

Key Players Covered

Some of the major companies that are present in the flexible solar panel market are SunPower Corporation, Flisom AG, PowerFilm Solar, Solbian Energie Alternative Srl, RNG International Inc, Enecom S.r.l., Hanergy Thin Film Power Group, Miasolé, Enecom, Global Solar, Solbian, Sunflare, Burnsco, Alta Devices, and Sungold.

Segmentation

Regional Analysis

The global flexible solar panel market has now been spread into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Europe, the USA, and China will be dominant players in the flexible solar panel technology. Promoted by the Chinese government, solar technology will see considerable innovations, production, and installation in the coming years. Government research centers, university laboratories, etc. in Europe and the USA perform cutting edge research in solar technologies. The next breakthroughs in the flexible solar panel are expected to occur in the USA and Europe. In the developed countries, flexible solar panels are used in RV, yacht, tents, etc. as an auxiliary power source. India, Africa, and Middle-East have enormous untapped potential for building-integrated photovoltaics.  

Key Industry Developments

• In July 2019, Global Solar Energy and TAM-Europe have recently co-developed an airport shuttle bus thin-film roof system. They plan to develop jointly a brand-new model of the solar electric shuttle bus, which uses a flexible thin-film module.


• In July 2019, Miasolé announced that it has reached 17.44% efficiency with a flexible solar module using copper indium gallium selenide (CIGS) technology