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Building-integrated Photovoltaics Global Market Report 2022

·4-min read

Major players in the building-integrated photovoltaics market are First Solar Inc. , Sharp Corporation, Yingli Solar, Solar Frontier, SunPower Corporation, Hanwha Solar, Renewable Energy Corporation (REC), Panasonic, Kyocera Document Solutions Company, Canadian Solar Inc, Suntech Power Holdings Co.

New York, July 08, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Building-integrated Photovoltaics Global Market Report 2022" -
Ltd., Harsha Abakus Solar Private Limited, Ascent Solar Technologies Inc., Greatcell Energy Limited, and Global Solar Energy Inc.

The global building-integrated photovoltaics market is expected to grow from $10.31 billion in 2021 to $13.00 billion in 2022 at a compound annual growth rate (CAGR) of 26.1%. The building-integrated photovoltaics market is expected to reach $30.65 billion in 2026 at a CAGR of 23.9%.

The building-integrated photovoltaics market consists of sales of building-integrated photovoltaics products (BIPV) by entities (organizations, sole traders, and partnerships) that refer to solar energy generating products that are perfectly integrated into the building envelope and are a part of building components such as facades, roofs, and windows. building-integrated photovoltaics (BIPV) serve two main purposes, they act as the building structure’s exterior layer while also generating power for on-site usage or export to the grid. This system can save money on materials and electricity, reduce pollution, and increase the architectural appeal of a building. BIPV systems are often introduced in between the development phase of a building or deployed within the course of a rebuild of an existing building when one of the wrap components is important to get replaced.

The main product types of building-integrated photovoltaics are polycrystalline, thin-film, and others.Thin-film products typically consist of very thin layers of photovoltaically active material put on a glass substrate or a metal substrate using vacuum-deposition manufacturing techniques similar to those used in the architectural glass coating.

The various application includes roof, facade, glass, and others that are used in residential, commercial, and industrial buildings.

Asia Pacific was the largest region in the building-integrated photovoltaics market in 2021. The regions covered in the building-integrated photovoltaics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing demand for zero-energy buildings is expected to fuel the growth of the building-integrated photovoltaics market going forward.Zero-energy buildings combine energy efficiency and renewable energy generation to consume only the amount of energy that can be produced onsite using renewable resources over a certain period of time.

The global concern regarding the carbon emissions from buildings and buildings construction is rising the demand for zero energy buildings. building-integrated photovoltaics materials provide a reasonable option for building skins and help in achieving zero energy levels in buildings. For instance, according to New Buildings Institute (NBI) 2020 report, the demand for zero energy buildings in the United States and Canada is increasing at an exponential rate. The number of zero energy and zero waste buildings had nearly doubled to 700, and the total square footage of zero-energy buildings has exceeded 62 million square feet in 2020. Therefore, the growing demand for zero energy buildings will contribute to the building-integrated photovoltaics market growth.

The favorable government initiatives to support the adoption of solar energy panel is promoting the growth of the building-integrated photovoltaics system market. Governments around the world are introducing initiatives and investments to support the clean energy transition and reduce the dependency on non-renewable energy sources including coal and petroleum. building-integrated photovoltaics systems are integrated into a building during construction and help to capture solar energy and convert it into electricity. For instance, in May 2021, The US Department of Energy (DOE) has announced a slew of new initiatives, including $15.5 million in new funding, to assist underrepresented communities in adopting solar energy and developing a diverse and capable workforce. Hence, the supportive government initiatives to adopt solar panels will contribute to the growth of the building-integrated photovoltaics system market going forward.

The introduction of new production facilities has emerged as a major trend gaining popularity in the building-integrated photovoltaics market.Major manufacturers operating in the building-integrated photovoltaics sector are focused on introducing new production facilities to meet the growing demand.

For instance, in July 2021, Mitrex, a Canada-based solar technology producer of building-integrated photovoltaics (BIPV), has officially opened its new production facilities in Toronto, Ontario.The new facility, which is fully operational, will be the world’s largest structure to date to incorporate Mitrex’s proprietary solar technology, which includes solar cladding, windows, and railings.

The new manufacturing facility features a fully automated production line as well as a custom-built 3D outside wall of the company’s cladding technology that spans 100,000 square feet. The first-of-its-kind facility will help Mitrex cement its position as a significant player in the North American and global markets, owing to its R&D activities, production capabilities, and extended supply chain capacity.

The countries covered in the building-integrated photovoltaics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Read the full report:

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