Building-Integrated Photovoltaics: Global Market Scenario, Trends, Opportunity, Growth and Forecast, 2019-2029

Market Definition

BIPVs are defined as photovoltaic (PV) materials that take the place of traditional construction materials in building envelope components like the roof, skylights, or facades. They are a subset of solar products where the PV element does double duty as a building replacement and light-to-electricity converter. Cladding (also known as the “weather skin”), skylights, roof tiles, curtain walls, windows, asphalt roofing and louvres are a few examples of important building envelope components.

Market Insights

The global BIPV market is anticipated to increase from $8.91 billion in 2021 to $40.23 billion in 2029. Buildings are currently the world’s largest energy consumers, and this trend is anticipated to last for a very long time due mostly to economic and population expansion. Numerous nations around the world have started to recognize this tendency. As a means of reaching greenhouse gas reduction goals, several governments at the federal, state, and local levels are expanding their investment in green energy solutions for both new and existing buildings. As a result, in recent years, the green movement has made building energy efficiency a key component.

BIPVs are a minor but growingly significant portion of the worldwide PV market. Some BIPV applications are growing rapidly and are expected to achieve gigawatt-scale annual sales in ten years. When annual capacity installations are added up, it is discovered that the entire BIPV sector has already exceeded the gigawatt mark. Contrary to the quick development of PV capacity with utility-scale power plants, there is no practical technique for full vertical integration with BIPV projects in all current and future buildings. Companies need allies, affiliates, partners, visionaries, and champions for this.

The COVID-19 pandemic significantly altered consumer demand and behaviour, impacted buying habits, redirected supply networks, disrupted the dynamics of present market forces, and required considerable government involvement. The pandemic in 2020 had an effect on the BIPV market just like it would on any other market.

BIPV components can be used in both new-build and retrofit construction industries. In many parts of the world, new construction was severely depressed as a result of the economic turmoil brought on by the COVID-19 epidemic. Since these projects, which are always important, are more likely to be eligible for public financial incentives and prospective developer participation, they will present more significant prospects in developed economies in the coming years.

Market Dynamics: Drivers

Increase in Residential and Commercial Solar Rooftop Installations

Solar power is the energy produced by the sun, and it is captured using a variety of technologies, such as photovoltaic cells, solar heating, and others. The International Energy Agency estimates that global solar PV generation reached 821 TWh in 2020, a 23% increase from 2019. The main producer of solar energy is the United States. The Solar Energy Industries Association (SEIA) estimates that the average annual growth rate of solar installations in the United States from 2010 to 2020 was 33%. Federal initiatives including tax rebates for solar investments, falling solar costs, and increased demand for clean electricity in both the private and public sectors were the main causes of this growth.

Carbon Footprint Reduction

The amount of CO2 released after fuel has burned depends on the fuel’s carbon content. The quantity of energy released as a fuel burns, or the heat content, is primarily influenced by the fuel’s carbon (C) and hydrogen (H) contents. When C and H combine with oxygen (O) during combustion, heat is created. Methane (CH4), the main component of natural gas, having a higher energy content than other fuels and a significantly lower CO2-to-energy ratio. Water, elements like sulphur, and noncombustible components increase the amount of CO2-to-heat in various fuels while lowering their heating values. The combustion of fossil fuels to generate electricity releases carbon into the atmosphere. The release of high levels of carbon is detrimental to the environment and human life. High carbon levels have spurred the development of alternative systems such as BIPV systems.

Market Dynamics: Challenges

Higher Module Cost and Limited Efficiency of Alternative PV Modules

The cost of manufacturing alternative solar PV technology-based modules ought to be less than that of crystalline silicon modules, in theory. This is due to the fact that fewer resources are needed to make these modules and that raw materials are less readily available. These technologies have not yet, however, attained the economies of scale that have been enjoyed for more than ten years by the leading crystalline silicon technology. In contrast to crystalline silicon, alternative solar PV module manufacturing requires a greater initial capital expenditure.

Market Segmentation

• Based on Technology, the Global Building-Integrated Photovoltaics market is segmented into
  • Crystalline silicon
  • Thin film
  • Others
• Based on Application, the Global Building-Integrated Photovoltaics market is segmented into
  • Roofing
  • Glazing
  • Facades
  • Architectural shading
• Based on End Use, the Global Building-Integrated Photovoltaics market is segmented into
  • Residential
  • Commercial
  • Industrial
• Based on Geography, the Global Building-Integrated Photovoltaics market is segmented into
  • Asia-Pacific
  • North America
  • Europe
  • Latin America
  • Middle East & Africa

• All market revenue has been given in US Dollar.

Historical Year: 2019-2020

Base Year: 2021

Estimated: 2022

Forecast- 2023-2029

Key Questions this Study will Answer

• What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Market Size-By Volume, Forecast Numbers, Market Segmentation, Market Shares) of Global Building-Integrated Photovoltaics Market?
• What is the region wise industry size, growth drivers and challenges key market trends?
• What are the key innovations, opportunities, current and future trends and regulations in the Global Building-Integrated Photovoltaics Market?
• Who are the key competitors, what are their key strength and weakness and how they perform in Global Building-Integrated Photovoltaics Market based on competitive benchmarking matrix?

What are the key results derived from the market surveys conducted during Global Building-Integrated Photovoltaics Market study?