Building Integrated Photovoltaics (BIPV) - Global Market Trajectory & Analytics

Global Building Integrated Photovoltaics (BiPV) Market to Reach $20.1 Billion by 2026

Building Integrated Photovoltaics (BIPV) refers to the use of solar panels, shingles and modules for generating electricity in a building, wherein the panels are integrated into roof tiles, facades, awnings, windows, and other building components. BIPV is essentially a new age building material that can be used as replacement of conventional building materials. For instance, in a BIPV project spandrel glass (in arch spaces), skylights, or roofing materials will be substituted with architecturally equivalent PV modules, thereby performing dual function of constructing roof membrane and power generator. Integrated photovoltaic arrays in the buildings are being used as an ancillary or principal source of electricity in many domestic and industrial buildings. BIPV systems are fixed to a utility grid and can be designed as both standalone and off-grid systems. Grid-connected BIPV system supplies power to onsite production facility, which is larger at the time of a building`s peak loads. Peak shaving and demand-side-management (DSM) capabilities deliver energy cost savings.

Amid the COVID-19 crisis, the global market for Building Integrated Photovoltaics (BiPV) estimated at US$10.3 Billion in the year 2020, is projected to reach a revised size of US$20.1 Billion by 2026, growing at a CAGR of 12.4% over the analysis period. C-Si, one of the segments analyzed in the report, is projected to record a 12.3% CAGR and reach US$16.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Thin Film segment is readjusted to a revised 13.6% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.6 Billion in 2021, While China is Forecast to Reach $4.1 Billion by 2026

The Building Integrated Photovoltaics (BiPV) market in the U.S. is estimated at US$1.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.1 Billion by the year 2026 trailing a CAGR of 16.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.6% and 11.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.7% CAGR.

A confluence of factors is expected to drive growth in the market in the post COVID-19 period, including the declining cost per watt; enhanced aesthetics of BIPV; improving efficiency of c-Si modules as well as flexible thin-film panels; and unabated desire among residential and commercial building owners to 'go green'. In the post COVID-19 period, BIPV adoption will be driven by anticipated rise in the construction activity in countries such as the US. In addition, there is also promise for BIPV technology adoption in developing economies such as China, India, Africa, and Latin America, which not only lack the infrastructure required for enabling traditional solar installations but also do not have the adequate grid infrastructure network. This implies that customers in such developing economies will move to distributed networks rather than choose the grid linked network, thus presenting significant potential for BIPV products. New constructions, retrofits and refurbishment works in both commercial and residential sectors are expected to drive demand for BIPV products in the coming years. Advancements in technology that enhance efficiency as well as reduce silicon prices and thus BIPV costs is also expected to fare well for the market`s progress in the foreseeable future. BIPV companies are also eyeing opportunities in emerging markets such as Asia-Pacific, particularly India for market expansion. Going forwards, building integrated PV is expected to generate significant economic interest in the future development of the low-energy housing market, and in PV roof applications and curtain wall installations.

By Application, Roofs Segment to Reach $11.6 Billion by 2026

Roofs are one of the most common applications of BIPV systems. This is because of the fact that pitched roofs at a specific angle are known to offer best energy harvesting. BIPV roof solutions make use of thin film as well as C-Si technologies. While c-Si is the dominant technology, thin film technology finds use in case of shading caused by trees or structures such as chimneys that could lower efficiency levels if c-Si panels are used. Thin film technology is typically used only when crystalline modules cannot be used owing to their rigidity and heavy weight, or when the modules are required to be used on curved roofs. Global market for Roofs (Application) segment is estimated at US$6.1 Billion in 2020, and is projected to reach US$11.6 Billion by 2026 reflecting a compounded annual growth rate of 12.0% over the analysis period. Europe constitutes the largest regional market for Roofs segment, accounting for 41.6% of the global sales in 2020. China is poised to register the fastest compounded annual growth rate of 15.7% over the analysis period, to reach US$3.1 Billion by the end of the analysis period.

Select Competitors (Total 104 Featured) -

• Ascent Solar Technologies, Inc.
• Canadian Solar, Inc.
• Greatcell Energy Limited
• First Solar, Inc.
• Hanergy Holding Group Ltd.
• Global Solar Energy, Inc.
• Hanwha Q CELLS Co., Ltd.
• Heliatek GmbH
• Sharp Corporation
• Trina Solar
• Wuxi Suntech Power Co., Ltd.
• Yingli Green Energy Holding
• AGC Inc.
• BELECTRIC GmbH
• CertainTeed Corporation
• Ertex solartechnik GmbH
• Onyx Solar Energy S.L.
• Romag
• Scheuten Glas Nederland B.V.