Building-integrated photovoltaics market is currently valued at USD 19.82 billion and is poised to amplify at a CAGR of 20.5% over 2022-2030.
Building-integrated photovoltaics are photovoltaic components that are utilised in place of some common building components. They are utilised in the roof, skylights, and façade of buildings. Solar panels, commonly referred to as building-integrated photovoltaics or BIPV for short, are used in the construction industry. It offers many categories, including crystalline-based thin-film solar panels, flexible thin-film solar panels, and semi-transparent thin-film solar panels. Currently, one of the areas of the global solar PV market that is increasing quickly is BIPV.
An increase in the integration of solar energy systems into commercial infrastructures for architectural optimization and energy conservation can be attributed to the rise in demand for building integrated photovoltaic materials. As environmental concerns about the depletion of non-renewable energy sources like coal and oil grow, demand for solar power generation also rises.
When compared to conventional building materials, building-integrated photovoltaic (BIPV) technologies offer a building more capabilities. A building that uses energy becomes an energy producer thanks to BIPV technology. In order to do this, BIPV technology must be combined with construction technology. Roofs, façades, and skylights are examples of outside architectural features where photovoltaic modules are used. Buildings benefit from BIPV in terms of noise reduction, thermal insulation, and weather protection. Due to the dearth of available ground land and the availability of under-utilized roof space, rooftop solar photovoltaic (PV) systems are becoming more and more common. Due to the lack of rails and brackets needed for BIPVs, BIPV technology lowers the overall cost of constructing materials.
In the upcoming years, market growth is anticipated to be boosted by rising awareness of energy security and self-sufficiency, as well as favourable government regulations and the unilateral ratification of the Kyoto Protocol by nations like China, Japan, India, Italy, Germany, and the United States in order to reduce greenhouse gas (GHG) emissions.
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Building-Integrated Photovoltaics Market: Segmental Assessment
By Technology:
- Crystalline silicon
- Thin film
- Others
By Application:
- Roofs
- Walls
- Glass
- Façade
- Others
By End-Use:
- Residential
- Commercial
- Industrial
Prominent Market players:
SolarWindow Technologies, Inc., AGC Inc., Hanergy Mobile Energy Holding Group Limited, The Solaria Corporation, Heliatek GmbH, Carmanah Technologies Corp., Greatcell, Tesla, BELECTRIC, and ertex solartechnik GmbH.
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