Building-integrated Photovoltaics Industry Overview
The global building-integrated photovoltaics market size was valued at USD 16.62 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 20.5% from 2022 to 2030.
The rapid expansion of the solar photovoltaic (PV) installation capacities of different countries, coupled with increasing demand for renewable energy sources, is expected to drive the growth of the market across the world. Increased awareness for energy security and self-sufficiency and favorable government legislations, coupled with the unilateral obligation of countries such as Germany, Italy, France, the U.K., the U.S., China, Japan, and India to the Kyoto Protocol, designated to reduce greenhouse gas (GHG) emissions, are also expected to promote the growth of the market in the coming years.
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The presence of a consumer base with high disposable income levels and the increasing affinity toward integrated installations in residential and commercial buildings in the country are anticipated to boost the demand for the product over the forecast period. In addition, the growing innovation in the domain is projected to increase the operational efficiency of the product, translating into market growth. The BIPV market in the U.S. is likely to be driven by the growing demand for alternate sources of energy. The demand for building-integrated photovoltaics is likely to be fueled by the high need for integrated roof systems in commercial and industrial establishments. Improvements in the manufacturing technology of thin-film BIPV modules and the rising efficiency of the product are expected to drive the market over the forecast period.
The government of France offers the highest feed-in tariff (FiTs) for electricity generated through photovoltaic components, which are essentially integrated into buildings. Capacity generated by photovoltaics integrated into building envelopes accounts for a substantial share of the overall accumulated, installed capacity generated by photovoltaics in the country. The country offers high subsidies and benefits pertaining to the use of building-integrated photovoltaics in a bid to encourage such installations in the country.
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Market Share Insights
- June 2020: European researchers from the Interdisciplinary Research Institute of Grenoble have developed solar PV panels in variable colors that can self-adjust to the intensity of light and the temperature level of buildings with glass exteriors and large windows.
Key Companies profiled:
Some prominent players in the global building-integrated photovoltaics market include:
- Solar Window Technologies, Inc.
- AGC Inc.
- Hanergy Mobile Energy Holding Group Limited
- The Solaria Corporation
- Heliatek GmbH,
- Carmanah Technologies Corp.
- ertex solartechnik GmbH
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