Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Building Integrated Photovoltaics (BIPV) Market Size to Hit USD 143.99 Billion by 2032

This image opens in the lightbox

News provided by

Precedence Research

28 Nov, 2023, 15:01 GMT

Share this article

Share toX

Share this article

Share toX

OTAWA,ON, Nov. 28, 2023 /PRNewswire/ -- The global building integrated photovoltaics (BIPV) market size surpassed USD 19 billion in 2022, grew to USD 23.18 billion in 2023 and is estimated to hit around USD 143.99 billion by 2032.

The global building integrated photovoltaics (BIPV) market is projected to grow at a double digit CAGR of 22.5% from 2023 to 2032. The Europe region has held the largest market share of 40% in 2022.

Forecasted Building Integrated Photovoltaics (BIPV) Market Size 2022 to 2032

Forecast Years

2022

2023

2024

2025

2026

2027

2028

2029

2030

2031

2032

Market Size

$ 19 Billion

$ 23.18 Billion

$ 28.3 Billion

$ 34.59 Billion

$ 42.3 Billion

$ 51.77 Billion

$ 63.42 Billion

$ 77.76 Billion

$ 95.41 Billion

$ 117.16 Billion

$ 143.99 Billion

Photovoltaic (PV) solar energy systems that are specifically made to blend in with a building's architecture are known as building-integrated photovoltaic (BIPV) systems. These systems combine the sustainability and economic advantages of distributed solar energy system generation with the visual appeal of continuous integration into the overall building design.

The Full Study is Readily Available | Download the Sample Pages of this Report@ https://www.precedenceresearch.com/sample/2289

Building-integrated photovoltaics (BIPV) is a technology that integrates photovoltaic (PV) modules into the building envelope, such as the roof, walls, or windows. This is done by using PV modules like roofing shingles, cladding, or skylights. BIPV has advantages, such as enabling seamless integration into building design, making it more visually appealing than conventional PV systems. Additionally, BIPV eliminates the need for separate PV mounting structures, saving installation costs. Moreover, BIPV can help to shade the building, reducing heat gain and cooling costs.

BIPV Market is segmented based on technology, application, end-user, and region. Factors such as the declining cost of PV modules, growing demand for sustainable buildings, and rising government support are driving the growth of the market. However, higher costs, limited awareness, technical barriers, lack of standardization, and limited aesthetics are restraining the growth of the BIPV market. Furthermore, Commercial and industrial applications, integration with building automation systems, advancements in PV technology, Aesthetics and architectural integration, Smart cities and energy-efficient infrastructure, and Innovation and technological advancements are expected to offer opportunities to the BIPV market.

Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/2289

Key Insights:

  • North America is expected to grow at a CAGR of 21.6% from 2023 to 2032.
  • The crystalline silicon segment accounted for 71% of the revenue share in 2022 and it is reached at a CAGR of 20.7% from 2023 to 2032.
  • The roof segment has held 44.8% of the total revenue share in 2022.
  • The glass segment is expected to grow at a CAGR of 21.6% from 2023 to 2032.
  • The commercial segment has captured 54.2% of the total revenue share in 2022.
  • The residential segment is expected to grow at a CAGR of 20.9% from 2023 to 2032.

Growth Factors of Building Integrated Photovoltaics (BIPV) Market

The reason for a rise in demand for the building integrated photovoltaic is an increase in the integration of solar energy solutions in various commercial buildings. They provide architectural optimization and conservation of energy. In order to comply with government regulations and for sustainable development the demands are high for solar power generation. The depleting of non-renewable power sources is also leading to an increase in demand for PVs.

Various construction and building sectors are focusing on clean energy, as there's a rise in demand for zero-emission buildings. The awareness about the ecological benefits of IPV have also resulted in the demand for the same. It helps in reducing carbon footprints as it is a clean source of energy. Constant technological advancements and increased wireless connectivity have increased the use of automated IPV components which helped in the growth of the market of Building Integrated Photovoltaics market.

Building Integrated Photovoltaics (BIPV) Market Scope:

Report Coverage             

Details

Growth Rate from 2023 to 2032

CAGR of 22.5%

Market Size in 2023

USD 23.18 Billion

Market Size by 2032

USD 143.99 Billion

Largest Market

Europe

Fastest Growing Market

Asia Pacific 

Base Year

2022

Forecast Period

2023 to 2032

Segments Covered

Technology, Application, End-User, and Geography

Building Integrated Photovoltaics (BIPV) Market by Regions:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

The Asia Pacific region is growing faster during the forecast period due to the rapid growth in the construction industry, causing a rising demand for BIPV systems. In Asia Pacific, major players are shifting to renewable energy to reduce emissions, lower energy costs, and improve eco-friendliness. About 95% of the world's electricity is projected to come from renewable sources by 2026. As of 2017, just 13.7% of ASEAN's total energy supply came from renewable sources, and this percentage remains constant.

Implementing the regional ASEAN goal of raising the share of renewable energy to 23% of the total energy supply by 2025 requires a rapid adoption rate. With a range of renewable energy sources available, including wind turbines, solar panels, and concentrated solar power, major sectors like the building sector are being urged to act and set policies in place that help achieve net zero energy targets. In the construction sector, onsite renewable energy is considered for net-zero energy buildings (NZEB), with solar power technology rising as a key solution. The electricity produced by installing renewable energy sources, like Building Integrated Photovoltaics (BIPV), may reduce the direct carbon emissions of buildings.

For instance, AGC's glass-embedded photovoltaic system, called SunEwat, was designed for glass facades that produce electricity. It assists new construction in meeting Green Mark Scheme requirements and is recognized under green certification programs such as LEED and BREEAM Green Buildings. SunEwat modules can be customized to match project requirements and are made to order. They can be used in conjunction with other glass components to provide maximum flexibility and functionality.

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 650 460 3308

Building Integrated Photovoltaics (BIPV) Market by Technology:

  • Crystalline silicone
  • Thin film
  • Others

Thin film technology is expected to grow faster during the forecast period. The increasing demand for lightweight and flexible BIPV solutions, particularly in residential and architectural applications, is driving the adoption of thin film technology. Advancements in thin film technology, leading to improved efficiency and lower production costs, are making thin-film modules more competitive and attractive. And government incentives, such as tax credits, rebates, and feed-in tariffs, further support the growth of thin film BIPV technologies.

Thin film technology is emerging as a dynamic force in the BIPV environment, providing a strong alternative to standard crystalline silicon (c-Si) technology. Its lightweight, flexible, and semi-transparent characteristics offer a wide range of BIPV integration opportunities, particularly in applications where conventional c-Si modules are limited.

The benefits of thin film technology are varied. Its lightweight and flexible nature makes it ideal for installation on lightweight building structures, curved roofs, and other unconventional surfaces, expanding the scope of BIPV applications. Furthermore, the semi-transparency of tax modules allows for natural light penetration while still generating electricity, an essential feature for applications such as windows, skylights, and glass facades. Furthermore, Thin film technology's adoption is expected to grow as it develops and its cost-efficiency improves, impacting c-Si's dominance and introducing the prospects of BIPV integration into buildings.

Building Integrated Photovoltaics (BIPV) Market by Application:

  • Rooftop
  • Glass
  • Facades
  • Walls
  • Others

The Rooftop segment dominated the market in 2022, holding a major share of about 44.8% and is expected to grow during the forecast period. The growth is driven by the considerable space on rooftops allows for the installation of a sufficient number of BIPV modules, allowing for the generation of a significant amount of a building's electricity consumption. Moreover, Rooftops offer optimal sun exposure, maximizing the energy generation potential of BIPV modules by providing unobstructed access to direct sunlight throughout the day. This allows for more efficient solar energy gathering and conversion into clean electricity. Also, rooftops exhibit structural suitability, providing a stable foundation for mounting BIPV systems and ensuring long-term performance and durability.

As energy prices rise, businesses and homeowners seek more cost-effective alternatives, with BIPV developing as a sustainable and efficient way to minimize energy consumption and reduce electricity bills. Additionally, technological advancements in PV technology enhance the performance and ease of installation of rooftop BIPV systems, further accelerating their adoption.

Personalized your customization here: https://www.precedenceresearch.com/customization/2289

Building Integrated Photovoltaics (BIPV) Market by End User:

  • Industrial
  • Commercial
  • Residential

The industrial segment is expected to grow faster during the forecast period owing to the sector's high energy consumption and the potential for significant cost savings from BIPV adoption. Industrial buildings, such as factories, warehouses, and industrial plants, are especially suitable for BIPV installations due to their large roof spaces and high energy requirements.

Additionally, the significant energy usage of industrial buildings represents a huge opportunity for BIPV systems. BIPV systems offer an attractive opportunity to drastically cut energy costs by generating clean energy on-site, resulting in improved financial performance and increased competitiveness for these industrial organizations. Furthermore, the huge roof areas of industrial buildings give considerable room for BIPV module installation, allowing sufficient electricity to be generated to meet their energy demands.

Browse Latest Insights:

Perovskite Solar Cell Market Insights 2023 to 2032: The global perovskite solar cell market size was estimated at USD 94.8 million in 2022 and is expected to hit around USD 2,479.2 million by 2032 with a registered CAGR of 38.1% from 2023 to 2032.

Solar EPC Market Insights 2023 to 2032: The global solar EPC market size was estimated at USD 221.49 billion in 2022 and it is projected to hit around USD 398.74 billion by 2032, poised to grow at a CAGR of 6.06% from 2023 to 2032.

Polycrystalline Solar Cell Market Insights 2023 to 2032: The global polycrystalline solar cell market size was estimated at USD 3.1 billion in 2022 and is projected to hit around USD 6.18 billion by 2032, registering a CAGR of 7.20% from 2023 to 2032.

Solar Farm Market Insights 2023 to 2032: The global solar farm market size was estimated at USD 61 billion in 2022 and is expected to reach around USD 299.53 billion by 2032, growing at a CAGR of 17.3% from 2023 to 2032.

Solar Photovoltaic Glass Market Insights 2023 to 2032: The global solar photovoltaic glass market size was estimated at USD 7.6 billion in 2022 and is expected to hit around USD 114.44 billion by 2032, poised to grow at a CAGR of 31.2% from 2023 to 2032.

Rooftop Solar Photovoltaic Market Insights 2023 to 2032: The global rooftop solar photovoltaic market size was valued at USD 101.55 billion in 2022 and is expected to hit around USD 434.63 billion by 2032, poised to grow at a CAGR of 15.70% from 2023 to 2032.

Solar Tracker Market Insights 2023 to 2032: The global solar tracker market size was valued at USD 4.40 billion in 2022 and it is expected to hit USD 44.55 billion by 2032, poised to grow at a CAGR of 26.10% from 2023 to 2032.

Solar Photovoltaic (PV) Market Insights 2023 to 2032: The global solar photovoltaic (PV) market was estimated at USD 150 billion in 2022 and is predicted to hit over USD 383.78 billion by 2032 and poised to grow at a CAGR of 9.90% from 2023 to 2032.

Biohybrid Solar Cell Market Insights 2023 to 2032: The global biohybrid solar cell market size was estimated at USD 431.8 billion in 2022 and is projected to hit around USD 853.36 billion by 2032, poised to grow at a CAGR of 7.1% from 2023 to 2032.

Monocrystalline Solar Cell Market Insights 2023 to 2032: The global monocrystalline solar cell market size was valued at USD 5.6 billion in 2022 and is expected to hit around USD 12.60 billion by 2032, poised to grow at a CAGR of 8.5% from 2023 to 2032.

Solar AI Market Insights 2023 to 2032: The global solar AI market is surging, with an overall revenue growth expectation of hundreds of millions of dollars during the forecast period from 2023 to 2032. 

Power Generation Market Insights 2023 to 2032: The global power generation market size was estimated at USD 1.8 trillion in 2022 and it is expected to hit around USD 3.9 trillion by 2032, growing at a CAGR of 8.04% during the forecast period from 2023 to 2032.

EV Solar Modules Market Insights 2022 to 2030: The global EV solar modules market is surging with an overall revenue growth expectation of hundreds of millions of dollars during the forecast period from 2022 to 2030.

Power Grid System Market Insights 2023 to 2032: The global power grid system market size was valued at USD 9.2 billion by 2022 and it is expected to hit around USD 18.18 billion by 2032 and is poised to grow at a CAGR of 7.1% from 2023 to 2032.

Solar Pump Market Insights 2023 to 2032: The global solar pump market size was evaluated at USD 2.44 billion in 2022 and is expected to hit around USD 4.69 billion by 2032 with a registered CAGR of 6.8% from 2023 to 2032.

Market Dynamics

Driver: Increasing Adoption of BIVP

The increasing adoption of BIVP is driving the growth of the BIPV market. The on-site energy generation from solar panels installed on roofs is less expensive than integrated solar solutions installed in buildings. Building integrated, however, is cost-effective and generates faster returns on investments, provided they can also offer benefits over energy generation. As BIPV systems become more flexible and visually appealing, more people are encouraged to adopt this technology. BIPV is challenging, particularly for upscale or architecturally significant buildings. Several BIPV modules are now available without frames and in various colors, but their shapes and structures can differ. Another trend is monolithic integration, in which BIPV is incorporated into glass and roofing without visible gaps, offering extra benefits like self-cleaning, self-tinting, and even self-healing.

The trend toward creating "zero energy" buildings that generate as much energy as they consume promotes more people to use BIPV. According to the New Buildings Institute, there has been an unexpected surge in certified and upcoming zero-energy projects in the United States and Canada. BIPV solutions are becoming increasingly common as a result of this growing trend. Moreover, Government support through favourable policies also plays a crucial role in promoting BIPV technology.  

Adoption of BIPV positively impacted by policies such as setting high objectives for zero-energy buildings, providing tax breaks for BIPV-equipped buildings, and allocating public funds for BIPV installation, research, and development.

Restraint: High cost and installation

Building-Integrated Photovoltaic (BIPV) systems are distinctive due to the fact they require adaptation to fit a variety of architectural applications, which sets them apart from standard solar PV. BIPV requires considering the customizable nature of architectural elements, especially glass, in contrast with conventional solar PV. However, this customized requirement has a financial and technical cost. It requires a lot of resources to design, produce, and certify BIPV systems in different sizes.

In addition, thin-film panels have an advantage over wafer-based Silicon (Si) due to its technological and aesthetic value, which provides a uniform appearance over wide areas. Although the architectural glass industry has grown used to using "soft" coatings such as sputtered low-E coatings, replacing them with thin-film cell "coatings" has made sense. The problem is that specialized Integrated Glass Units (IGUs) are difficult to manufacture precisely. Thus, technological advancements require a second glass layer to seal the PV completely against moisture.

Increasing thin-film resistance to moisture is a potential way to reduce expenses and remove design constraints. Another option is to use building components rather than commoditized solar panels, which may significantly reduce costs. This approach would be effective if architects adopt a standardized form factor, like cladding systems. For instance, a vertical solar system with 18% efficiency and an installation cost of 2-3 per watt equals $3.90–5.85 per square meter. Comparatively, the installed prices of several exterior wall cladding systems made of Aluminum Composite Material (ACM), frequently used in commercial construction, range from $2.75 to $4.65 per square meter. Convincing architects to adopt a uniform form factor is the difficult part, which may avoid significant costs associated with customization.

Building-Integrated Photovoltaic (BIPV) system installation presents several issues, such as the requirement for specialized labor, construction oversight, and intricate electrical wiring procedures. Compared to solar panels attached to rooftops, BIPV modules require more time to install, even if they are comparatively small and manageable. In contrast to Building-Added Photovoltaics (BAPV), BIPV modules don't need mounting systems to be installed before, which lengthens the installation procedure. The importance of aesthetics requires that BIPV products should resemble conventional building materials.

Widespread BIPV use is hampered by hurdles with cost, acceptance, and installation. In addition to addressing hurdles and knowledge gaps among potential consumers, the government's support and BIPV's ability to demonstrate capabilities beyond energy generation are possibly able to justify higher costs and speed return on investment.

Opportunity: Commercial and Industrial Applications

Building-integrated photovoltaics (BIPV) integration presents a significant opportunity for sustainability and energy independence for the commercial and industrial sectors. These buildings' large roof areas and high energy requirements make them ideal possibilities for BIPV system deployment. Building Integrity Preservation (BIPV) is becoming a more appealing option for producing clean energy and improving building aesthetics simultaneously as companies embrace more ecologically responsible measures to reduce their carbon impact.

A wide range of variables contribute to the growing acceptance of BIPV in commercial and industrial environments. Government support, like tax credits and rebates, is essential in lowering the initial costs of BIPV installations and enabling enterprises to afford them. These buildings' large roof spaces also give BIPV modules enough space to produce a sizable amount of the building's electricity requirements. This reduces the need for conventional energy sources and significantly reduces energy costs.

Moreover, BIPV systems seamlessly integrate into the architectural designs of commercial and industrial buildings, contributing to their aesthetic value. Customizable BIPV modules can be considered specific to match the building's color scheme and design, ensuring a cohesive blend with the overall structure. As businesses prioritize sustainability and energy efficiency, BIPV has the potential to have an increasingly important role in these sectors, providing a viable and cost-effective alternative for businesses seeking to reduce their environmental impact and achieve energy independence.

Recent Developments

  • In Nov 2023, Tokyo-based AGC, a global leader in glass, chemicals, and high-tech materials, announced its Building Integrated Photovoltaic (BIPV) product, SunEwat (marketed as Sunjoule in Japan), at the 28th UN Climate Change Conference (COP28).
  • In Sept 2023, LONGi , one of the largest solar PV manufacturers, announced its launch of a new generation BIPV product ROOF 4.0 based on its HPBC cell technology, claiming that the product can generate an output of 580 W with an efficiency reaching up to 22.6%. 
  • In Oct 2023, RMIT University in Australia developed new software that integrates product, regulation, technical, economic, and construction data. It helps architects and engineers to estimate the cost of building-integrated photovoltaics (BIPV) during the conceptual design phase.

Market Key Players:

  • Solar day
  • Changzhou Almaden Co limited
  • Merck KGaA
  • Onyx Solar Group, LLC
  • AGC Inc.
  • Ankara Solar AS
  • Ertex Solar Technik GmbH
  • Nano PV Solar Inc.
  • Hanergy Holding Group limited
  • Hermans Techniglaz

Market Segmentation:

By Technology

  • Crystalline silicone
  • Thin film
  • Others

By Application

  • Rooftop
  • Glass
  • Facades
  • Walls
  • Others

By End-User

  • Industrial
  • Commercial
  • Residential

By Geography

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Immediate Delivery Available | Buy This Premium Research Report@ https://www.precedenceresearch.com/checkout/2289

You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 650 460 3308

Unlocking Market Insights through Data Excellence 

The "Precedence Statistics" flexible dashboard is a powerful tool that offers real-time news updates, economic and market forecasts, and customizable reports. It can be configured to support a wide range of analysis styles and strategic planning needs. This tool empowers users to stay informed and make data-driven decisions in various scenarios, making it a valuable asset for businesses and professionals looking to stay ahead in today's dynamic and data-driven world. 

Access our Premium Real Time Data Intelligence Tool, Visit: www.precedencestatistics.com

About Us

Precedence Research is a worldwide market research and consulting organization. We give an unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.

Web: https://www.precedenceresearch.com

Our Blogs:

https://www.towardshealthcare.com

https://www.towardspackaging.com

For Latest Update Follow Us:

Linkedin | Facebook | Twitter

Related Reports:

The global solar microinverter and power optimizer market size was estimated at USD 4.3 billion in 2022 and is expected to surpass around USD 14.5 billion by 2032 and recording a notable CAGR of 13.4% during the projected timeframe of 2023 to 2032.

The global solar cell market is expected to reach a compound annual growth rate (CAGR) of 17.2% over the forecast period from 2023 to 2032. The solar cell market size was estimated at USD 108.8 billion in 2022 and it is projected to surpass around USD 508.18 billion by 2032.

The global microgrid market size was estimated at USD 30.5 billion in 2022 and it is expected to surpass around USD 168.64 billion by the end of 2032, expanding at a registered compound annual growth rate (CAGR) of 18.7% from 2023 to 2032.

The global thin film solar cell market size was estimated at USD 12.23 billion in 2022 and is expected to hit around USD 27.27 billion by 2032 with a remarkable CAGR of 8.4% from 2023 to 2032.

The global solar generator market size was estimated at USD 480 million in 2022 and it is expected to reach around USD 966.49 million by 2032, poised to grow at a compound annual growth rate (CAGR) of 7.3% from 2023 to 2032.

The global rooftop solar photovoltaic market size was valued at USD 101.55 billion in 2022 and is expected to hit around USD 434.63 billion by 2032, poised to grow at a compound annual growth rate (CAGR) of 15.70% from 2023 to 2032.

Logo: https://mma.prnewswire.com/media/2264617/Precedence_Research_Logo.jpg

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.