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EN20113846 |
Pages: 295 |
Oct 2023 |
Building-integrated Photovoltaics Overview
photovoltaics (BIPV) refers to integrating solar energy generation technology into the design and construction of buildings. BIPV systems seamlessly incorporate solar panels into the building's architecture, serving multiple functions simultaneously. These systems can be solar tiles, windows, facades, awnings or cladding. Using photovoltaic materials and technologies, BIPV systems convert sunlight directly into electricity, which can be utilized on-site to control a building's electrical systems. Integrating solar panels into the building structure offers benefits such as improved aesthetics, effective use of space, and reduced carbon emissions. BIPV technology continues to advance, allowing for greater design versatility and integration options across various building types.
Global Building-integrated Photovoltaics Market Analysis
The global building-integrated photovoltaics market size was $19.86 Billion in 2022 and is predicted to grow at a CAGR of 18.4%, by generating a revenue of $95.81 Billion by 2032.
COVID-19 Impact on Global Building-integrated Photovoltaics Market
The COVID-19 pandemic has significantly impacted the building-integrated photovoltaics (BIPV) market. Supply chain disruptions caused by restrictions on manufacturing and logistics have led to delays and increased costs in delivering BIPV materials and equipment. The construction industry has experienced slowdowns and project suspensions, affecting adoption of BIPV systems as new projects incorporating these technologies have been put on hold or scaled back. Financial constraints resulting from economic uncertainties have also affected the availability of financing for BIPV installations, as funding sources may have been redirected or reduced. Changes in energy demand and priorities during the pandemic, with a decline in commercial and industrial energy consumption and an increase in residential energy use, can impact the economic viability of BIPV systems. Policy and regulatory changes have also added uncertainty to the market, potentially delaying or adjusting renewable energy policies.
Increasing Demand for Renewable Energy to Drive the Market Growth
The building-integrated Photovoltaics (BIPV) market is driven by various factors contributing to its growth and adoption. One significant factor is the increasing demand for renewable energy sources as global climate change concerns escalate. BIPV offers a solution by directly integrating solar power into buildings, reducing reliance on conventional energy sources and promoting clean energy. Governments also play a crucial role by implementing supportive policies, incentives, and favorable regulations to encourage BIPV installations. Furthermore, technological advancements have improved efficiency and reduced the cost of BIPV systems, making them more economically viable. The architectural integration and aesthetics of BIPV systems make them appealing to building owners and developers who prioritize sustainability without compromising the structure's visual appeal. Additionally, the desire for energy independence and resilience and the need to meet green building certifications and energy efficiency requirements further drive the adoption of BIPV systems. Lastly, the growing construction industry, particularly in emerging economies, contributes to the expanding market for BIPV as developers seek sustainable solutions for their projects.
High Initial Installation Costs to Restrain the Market Growth
The growth of the building-integrated photovoltaics (BIPV) market is restrained by several factors. One significant factor is the high initial costs associated with BIPV systems, making them less economically viable for some project developers. Additionally, limited awareness and market penetration hinder the widespread adoption of BIPV technology. Inconsistent or inadequate policies and regulations related to renewable energy and building standards also pose challenges. Technical issues such as integration, efficiency, durability, and reliability of BIPV products can impede market growth.
Moreover, aesthetics and design limitations restrict the options for integrating BIPV into buildings. The limited manufacturing capacity and supply chain constraints affect the availability and scalability of BIPV products. Financing BIPV projects can be challenging due to perceived risks and more extended return on investment periods. Interconnection and grid integration complexities further add to the restraints faced by the BIPV market.
Increasing Demand for Sustainable Buildings to Drive Excellent Opportunities
The building-integrated photovoltaics (BIPV) market is brimming with opportunities for growth and development. One of the primary drivers is the escalating demand for sustainable buildings as environmental consciousness and renewable energy take center stage. BIPV offers an enticing solution by seamlessly integrating solar panels into building components such as windows, facades, and roofs. This burgeoning demand for sustainable buildings is set to propel the BIPV market forward. Furthermore, governments worldwide are implementing favorable policies and incentives to promote the adoption of renewable energy technologies, including BIPV. These measures, such as financial incentives, tax benefits, and supportive regulations, encourage building owners and developers to invest in BIPV systems, thus creating opportunities for market expansion. Additionally, ongoing technological advancements in BIPV enhance efficiency, aesthetics, and cost-effectiveness. Innovations like transparent solar cells, flexible modules, and new materials are broadening the scope of BIPV applications, paving the way for further market growth. The integration of BIPV with intelligent building systems also presents a significant opportunity. By connecting BIPV systems to energy management platforms, building owners can optimize energy usage, monitor performance, and enable intelligent energy distribution. As urban areas grow and sustainable building practices gain prominence, BIPV solutions are expected to be in high demand. Collaboration among solar companies, building material manufacturers, architects, and construction firms can unlock new avenues for BIPV market growth. At the same time, partnerships with research institutions and academia can drive innovation and accelerate adoption.
Global Building-integrated Photovoltaics Market Share, by Technology, 2022
The crystalline silicon sub-segment accounted for the highest market share in 2022. Crystalline silicon has emerged as the dominant technology in the building-integrated photovoltaics (BIPV) market due to several key factors. Firstly, it boasts high energy conversion efficiency, ensuring more significant power generation per unit area. Secondly, it benefits from its long-standing technological maturity, with well-established manufacturing processes and economies of scale that make it cost-effective compared to emerging alternatives. Thirdly, crystalline silicon solar cells have proven reliable, durable, and capable of withstanding various environmental conditions, making them reliable for building integration. Additionally, their ability to be manufactured in different sizes, shapes, and colors provides design flexibility, meeting the aesthetic requirements of BIPV installations. Furthermore, the extensive supply chain and market acceptance of crystalline silicon contribute to its dominance in the BIPV market.
Global Building-integrated Photovoltaics Market Share, by Application, 2022
The roof sub-segment accounted for the highest market share in 2022. Roof-integrated photovoltaics, also known as solar roofs or solar shingles, have dominated the building-integrated photovoltaics (BIPV) market due to several key factors. Firstly, their seamless integration into the existing roof structure offers an aesthetically pleasing and architecturally versatile solution. Solar roofs maximize energy production by utilizing the entire roof surface area, resulting in improved proficiency and higher energy yields than traditional solar panel installations. This productivity, combined with the potential cost savings from replacing different roofing materials, makes solar roofs a cost-effective choice in the long run. The increasing awareness and concern about climate change have also driven the demand for economical building arrangements. Solar roofs offer a practical and visually appealing way to incorporate clean energy generation into buildings without compromising their design or function. Furthermore, government support and incentives, such as tax credits and subsidies, have encouraged the adoption of solar energy and propelled the dominance of roof-integrated photovoltaics. Technological advancements, market competition, and the investment of industry players have also contributed to the rise of solar roofs in the BIPV market.
Global Building-integrated Photovoltaics Market Share, by End-use, 2022
The industrial sub-segment accounted for the highest market share in 2022. Industrial dominance in the building-integrated photovoltaics (BIPV) market can be attributed to several key factors. Firstly, industrial companies benefit from economies of scale, allowing them to produce BIPV systems at lower costs than smaller competitors. Their ability to mass-produce BIPV modules and systems enables them to offer competitive pricing. Additionally, industrial players allocate significant resources to research and development, driving innovation in BIPV technologies and giving them a competitive edge. With well-established supply chains, industrial companies can efficiently source materials and secure favorable terms, enhancing their cost advantages. Their extensive expertise and experience in the manufacturing and construction industries ensure efficient production processes and high-quality project execution. Furthermore, industrial players are well-positioned to handle large-scale BIPV projects driven by increasing market demand, government incentives, and regulations promoting renewable energy adoption. Financial strength, brand recognition, and trust also contribute to their dominance.
Global Building-integrated Photovoltaics Market Share, by Region, 2022
The Europe building-integrated photovoltaics market generated the highest revenue in 2022. Europe has become the dominant player in the building-integrated Photovoltaics (BIPV) market due to several key factors. Firstly, European countries have implemented supportive policies, such as feed-in tariffs, renewable energy targets, and subsidies, creating a conducive environment for BIPV growth. Secondly, Europe has been at the forefront of technological innovation in the solar industry, investing in advanced BIPV technologies. Additionally, stringent building codes and standards in Europe promote energy efficiency and require or incentivize the integration of BIPV in new buildings. Furthermore, strong market demand for sustainable solutions,a well-developed industry ecosystem, and international collaboration have propelled Europe's dominance in the BIPV market.
Competitive Scenario in the Global Building-integrated Photovoltaics Market
Investment and agreement are common strategies followed by major market players. One of the leading market players in the industry is Polysolar Ltd. The world’s largest solar manufacturer Tongwei Solar (Hefei) Co., Ltd has appointed Polysolar Ltd as its sales agent for the United Kingdom. The partnership will see the specialist BIPV (Building Integrated Photovoltaic) project delivery company sell TW Solar’s – as Tongwei is known internationally – innovative high efficiency mono PERC Shingled modules. These combine attractive aesthetics, high durability, and superior in-situ conversion efficiencies at a competitive price, according to TW Solar.
Some of the leading building-integrated photovoltaics market players are Hanergy Mobile Energy Holding Group Limited, AGC Inc., The Solaria Corporation, Heliatek GmbH, Tesla, Ertex Solar, Onyx Solar Group LLC, NanoPV Solar Inc., Polysolar Ltd., and ViaSolis.
| Aspect | Particulars |
| Historical Market Estimations | 2020-2022 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Technology |
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| Segmentation by Application |
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Segmentation by End-use
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| Key Companies Profiled |
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