The market for building integrated photovoltaic (BIPV) is expected to grow at a CAGR of more than 14.79% during the forecast period of 2020 – 2025. BIPV brings attractive solutions for effectively and sustainably retrofitting building envelopes, providing savings in materials, and in conventional electricity consumption, and at the same time, improves the energy efficiency of the buildings, which is expected to supplement the demand of BIPV solutions in the coming years, particularly in the residential and commercial sectors. One of the major restraints of the BIPV market is the declining cost and improving technology of rooftop solar PV, at a rate considerably higher than that of BIPV, which, in turn, has resulted in the majority of the buyers opting rooftop solar over BIPV.
- Crystalline-type of BIPV is expected to account for the largest share in the BIPV market as it is the most mature and widely used material for BIPV.
- In recent years, the European Union, the United States, and other advanced countries have significantly shifted their focus toward the design or construction of the net-zero-energy building (or nearly zero energy building). In addition, several goals and targets for the implementation of zero energy buildings have already been announced or are being discussed and proposed at the international level. This, in turn, is expected to create significant opportunities for the BIPV technology providers in the future.
- Europe dominated the market across the globe owing to the region’s clean energy goals and the ambitious targets set to ensure that from 2020 all-new buildings consume very little net energy and it has created the term “nearly zero-energy building” or nZEB.
Key Market Trends
Increasing Demand for Crystalline Type BIPV
- Crystalline module is the dominant solar photovoltaic (PV) technology, which is used in the BIPV market. Besides this, conventional solar technology made by using crystalline silicon accounts for over 80% of the solar market. Thus, as the most mature and widely-used material for BIPV, most of the solar panels utilized for facades, curtain walls, and roofs are made using crystalline silicon.
- Crystalline silicon photovoltaic modules are built using crystalline silicon solar cells, which are developed using microelectronics technology. The two types of crystalline silicon solar cells used in crystalline silicon photovoltaic are mono-crystalline silicon and polycrystalline silicon.
- Crystalline silicon flexible lightweight panels are cheaper and more efficient than its thin film counterparts but are less flexible. They are, therefore, an ideal choice for invisible applications with a permanent fixture, such as flat roofs.
- The recent emergence of micro-inverters that can be associated with each solar module can partially solve the problems, such as shading and loss of performance as a consequence of high temperature. As a result, this can provide new impetus for the integration of c-Si in the BIPV market in the coming years.
Europe to Dominate the Market
- Europe is expected to continue its dominance in the global BIPV market, in terms of installed capacity, due to higher customer willingness to adopt practices, on account of increasingly stringent environmental regulations, coupled with rising pressure to minimize net energy consumption from buildings, in order to reduce CO2 emissions.
- The European Union, based on new energy strategy, aims to achieve at least a 27% share of renewable energy consumption by 2030, and that all new buildings are nearly zero energy buildings (NZEB) by 2020.
- The BIPV market in Europe is in a transition and is being positively impacted by the regulatory framework. The Directive on Energy Performance in Buildings (EPBD) (Directive 2010/31/EU) and the Renewable Energy Directive (1/77/EC) were set up by the European Union (EU), paving the way for near zero and positive energy buildings.
- EPBD includes measures that are expected to accelerate the rate of building renovation toward more energy-efficient systems, and strengthen the energy performance of new buildings, making them smarter. This directive is expected to become an important driver of PV development in the building sector, by pushing PV as the main possibility to reduce the net energy consumption in buildings, after energy efficiency.
The global building integrated photovoltaic (BIPV) market is moderately consolidated. The key players in this market include ONYX Solar Group LLC, Merck KGaA, AGC Inc., and Changzhou Almaden Co. Ltd.
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1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.2 Evolution of Building Integrated Photovoltaic Technology
4.3 Market Size and Demand Forecast, in USD million, till 2025
4.4 Storage Systems for BIPV Systems
4.5 Government Policies and Regulations
4.6 Recent Trends and Developments
4.7 Market Dynamics
4.8 Supply Chain Analysis
4.9 Porter's Five Forces Analysis
4.9.1 Bargaining Power of Suppliers
4.9.2 Bargaining Power of Consumers
4.9.3 Threat of New Entrants
4.9.4 Threat of Substitutes Products and Services
4.9.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.2.2 Commercial and Industrial
5.3.1 North America
5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Onyx Solar Group LLC
6.3.2 Merck KGaA
6.3.3 Nanoflex Power Corporation
6.3.4 AGC Solar
6.3.6 Issol SA
6.3.7 Changzhou Almaden Co. Ltd
6.3.8 Sunovation Produktion GmbH
6.3.9 ertex solartechnik GmbH
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.