Building Integrated Photovoltaics Market Size

Building Integrated Photovoltaics Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The Building Integrated Photovoltaics (BIPV) market is expected to grow rapidly, and the current market is expected to reach $23.84 billion in 2024 and $136.11 billion in 2032. The CAGR of 18.33% during the forecast period is an impressive growth. The main reason is the increasing demand for sustainable energy solutions and the development of photovoltaic technology. BIPV systems have been integrated into the design of buildings in recent years, and they have both energy-saving and beauty. The market is also driven by government subsidies for the use of renewable energy, rising electricity prices, and a growing awareness of sustainable development. Transparent solar cells and flexible photovoltaic films have been developed. These materials have further improved the functionality and appearance of BIPV products. Competition is intense in the industry. Leading companies such as Sunpower, First Solar, and Tesla are investing heavily in R & D and forming strategic alliances to capture market share. These efforts not only increase the company's competitiveness, but also promote the development of the BIPV industry.

Regional Market Size

Regional Deep Dive

BIPV market is growing rapidly across the world, driven by the rising energy demand, the implementation of green policies, and the advancement of solar technology. In North America, the market is characterized by the rapid adoption of renewable energy, especially in urban areas where land is scarce. Europe, with its supportive policies and advanced technology, is the world leader. In Asia-Pacific, rapid urbanization and industrialization are driving the demand for BIPV. Middle East and Africa are taking advantage of the abundant sunlight, while Latin America is looking to solar energy to solve the energy access problem. Each region has its own opportunities and challenges, which shape the market for BIPV.

North America

• The U.S. Department of Energy has been promoting the use of solar energy in building design, encouraging architects and contractors to use BIPV.
• Hence, the emergence of solar roofs, such as those of Sunpower and the solar tiles of Tesla, is a major innovation in the construction industry, enabling both the domestic and the commercial sector to benefit from the benefits of solar energy.
• It was the title of a book published in the United States in 1927, which referred to a sailor who was working in California, and who was a native of the state.

Europe

• The Green Deal of the European Union, which aims to make Europe climate-neutral by 2050, will encourage investment in photovoltaics and sustainable building.
• The BIPV system is currently the most developed in countries such as Germany and the Netherlands, where the Solar Decathlon Europe is held every two years to demonstrate the most advanced solar energy designs and technology.
• In France, the regulatory framework imposes the integration of solar energy into new buildings.

Asia-Pacific

• In China, the market for building-integrated photovoltaics is growing rapidly, and the government is actively encouraging the integration of solar energy with the city’s infrastructure.
• In Japan, the energy-efficiency and disaster-resistance of buildings have led to the development of new BIPV systems that not only produce energy but also have structural advantages during natural disasters.
• Australia, where there is a growing concern for sustainable architecture, is the leading market for building-integrated photovoltaics (BIPV).

MEA

• The UAE’s solar energy strategy 2050 aims to increase the contribution of clean energy, with building-integrated photovoltaics (BIPV) playing a key role in achieving these goals.
• The new NEOM city of Saudi Arabia is to be a smart city, powered by solar energy. It will use building integrated photovoltaic (BIPV) technology in its architectural design.
• Regulatory support in countries such as South Africa has created a conducive environment for the use of BIPVs, especially in off-grid applications.

Latin America

• Brazil's National Solar Plan is encouraging the use of solar energy, including BIPV, to improve access to energy in remote areas.
• Chile has a favorable solar irradiation that is attracting the installation of photovoltaic systems on buildings, and there are several initiatives to integrate solar solutions in urban planning.
• In countries such as Mexico, the regulatory framework for the integration of renewable energy is evolving, thus creating opportunities for the development of the BIPV market.

Did You Know?

“The systems of BIPVs may contribute up to fifty per cent of the building’s energy needs, and are thus an important element of the energy-saving architecture.” — International Energy Agency (IEA)

Segmental Market Size

BIPV is a key part of the photovoltaic market, which is currently growing at a rapid pace due to rising energy demand and a growing focus on the environment. The main drivers of the BIPV market are stricter regulations promoting the use of renewable energy and technological advances in photovoltaics that improve efficiency and aesthetics. The European Union’s Green Deal, for example, aims to significantly increase the use of solar energy in buildings, thereby creating a favourable environment for BIPV solutions.

In the meantime, the integration of solar cells into the structure of buildings is already a common practice in some countries. These systems, which are mainly used on the roofs of houses, on the facades of commercial buildings, and on the surfaces of public buildings, not only produce energy but also enhance the appearance of the building. In the future, as the world population grows and the demand for zero-energy buildings grows, the market for BIPV will grow even more strongly. New technological developments such as thin-film cells and BIM (building information modeling) will make BIPV an indispensable component of future sustainable architecture.

Future Outlook

Building a Solar Rooftop - The Future of Energy in the 21st Century The future of the solar roof is in the 21st century. The building of a solar roof is becoming increasingly popular. This is largely due to the increasing importance of sustainable building and the integration of renewable energy into the city. As governments around the world continue to tighten their regulations on carbon emissions and green building certifications, the adoption of BIPV is expected to increase, resulting in a higher penetration of BIPV in new buildings and retrofitting. BIPV is expected to represent about 15 to 20 percent of the photovoltaic market in 2032, driven by the increased efficiency and aesthetics of solar materials.

BIPV systems are expected to be further enhanced by technological advances, such as the development of transparent solar cells and better energy storage systems. These innovations will not only increase the energy generation capacity of BIPV, but also allow for greater design flexibility, thus making it an attractive choice for architects and building contractors. The emergence of smart buildings, which are equipped with IoT, will also enable BIPV to be better integrated into the smart building energy management system, which will further optimize energy consumption and improve building performance. Strategic cooperation between technology suppliers, contractors and energy companies will be the driving force behind the development of BIPV.