Building-Integrated Photovoltaics Market: Current Analysis and Forecast (2022-2028)

Building-Integrated Photovoltaics Market: Current Analysis and Forecast (2022-2028)

Building integrated photovoltaics (BIPV) offers an aesthetical, economical, and technical solution to integrate solar cells harvesting solar radiation to produce electricity within the climate envelopes of buildings. The BIPVs integration with the building envelope limits the costs by serving dual purposes. In addition, BIPVs have a great advantage compared to non‐integrated systems because there is neither need for the allocation of land nor stand‐alone PV systems.

Moreover, BVIP can reduce the total building material cost owing to its on‐site electricity-producing PV modules and achieve significant savings in terms of mounting costs. Furthermore, no additional assembly components require such as brackets and rails and the BIVP system simply makes electricity out of sunlight, silently with no pollution which in turn is driving the market size of BIPV products. Furthermore, factors such as increased awareness for energy security coupled with the rapid expansion of solar photovoltaics and investment in solar energy in various countries is accentuating the growth of the building-integrated photovoltaics (BIPV) market.

• Based on the technology, the building-integrated photovoltaics market is segmented into crystalline silicon, thin film, and others. The crystalline silicon segment caters substantial share of the market. By using smart mounting systems, crystalline silicon cells can be integrated into building roofs by replacing the sections of the roof while keeping its integrity intact. This type of integration does not account for large investments and provides high efficiency. In addition, crystalline silicon has the highest energy conversion efficiency at present; commercial modules typically convert 13%-21% of the incident sunlight into electricity.
• Based on the application, the building-integrated photovoltaics market is classified into roof, glass, wall, façade, and others. The roof segment caters significant share of the market. As pitched roofs at a specific angle are known to offer the best energy harvesting. Building-integrated photovoltaics (BIPV) roof solutions make use of thin film as well as C-Si technologies. However, the glass segment also acquired a considerable presence in the market. The industrial buildings sector is expected to expand at the quickest rate during the projected period, owing to the increasing use of solar systems to reduce reliance on non-renewable energy sources for power generation which in turn will positively influence the growth of glass segment in the building-integrated photovoltaics market.
• Based on end-use, the building-integrated photovoltaics market is categorized into industrial, commercial, and residential. The commercial segment caters considerable share of the market. he rises in a number of retrofit projects using these installations. High emphasis on the aesthetic appeal of solar energy harnessing systems, primarily in commercial establishments, is likely to fuel the demand for BIPV. In addition, the need rising to reduce the reliance on non-renewable energy sources is also expected to accentuate the market size.
• For a better understanding of the market adoption of the building-integrated photovoltaics market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, U.K., France, Spain, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. Europe is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the supportive directives of the European Commission in the form of financial incentives and subsidies, and declining the price of photovoltaic components is driving the market growth. For instance: The European Union (EU) established the Directive on Energy Usage in Buildings (EPBD) (Directive 2010/31/EU) and the Renewable Power Directive (1/77/EC), opening the path for near-zero and positive energy buildings. Moreover, Germany and Italy are increasingly emphasizing the use of solar energy, which is expected to translate into higher adoption of BIPV, thus promoting industry growth over the forecast period.
• Some of the major players operating in the market include Scheuten Solar, Wurth Solar, Dow Solar, Suntench Power, Belectric, Carmanah Technologies Corporation, Dyesol Ltd., Hanergy Holding Group, Canadian Solar Inc., Tesla Inc.