Annual Installed Capacity of BIPV Worldwide is Projected to Exceed 11 GW by 2020

Focus on Energy Conservation & Green Buildings to Spur Demand for Building Integrated Photovoltaics, According to a New Report by Global Industry Analysts, Inc.

GIA announces the release of a comprehensive global report on Building Integrated Photovoltaics (BIPV). Annual installed capacity of BIPV worldwide is projected to exceed 11 GW by 2020, driven by the increasing focus on renewable energy sources and the green building movement in the construction sector.

Building Integrated Photovoltaics (BIPV) refer to photovoltaic products such as solar panels and modules that are used as replacements for traditional building materials. BIPV dons dual role as both building envelope material and power generator, thus providing substantial savings in terms of electricity and materials costs. Driven by technological advancements, BIPVs are being designed to completely replace building components including parts of building envelopes such as roofing, façades and windows; and in structural elements and accessories such as porches, railings and balconies. Rising awareness over the benefits offered by integrated photovoltaic modules for onsite electricity generation and its favorable impact on improving energy efficiency of buildings is a major factor encouraging BIPV installations, worldwide. While BIPVs are generally used in new building constructions, stringent energy efficiency norms are spurring demand in retrofit projects as well.  

Increasing focus on renewable energy sources, particularly solar power, against the backdrop of rapidly depleting fossil fuel reserves, is poised to benefit the market. The market also stands to gain from the green building movement in the construction sector, particularly in developed countries. The aesthetic appeal of building integrated photovoltaics will continue to be the major source of attraction for end-users and building architects. Availability of flexible, energy-efficient and transparent solar materials and the implementation of favorable solar power policies and building regulations will encourage deployment of BIPV systems. R&D efforts focused on developing innovative BIPV products are also poised to favor market growth. Technology advances related to new and enhanced solar materials, such as thin-film CIGS, organic PV, and dye-synthesized cells (DSC) are also expected to play an influential role in the development of low-cost and high-performance BIPV systems.

As stated by the new market research report on Building Integrated Photovoltaics (BIPV), Europe represents the leading regional market, worldwide. Adoption of BIPV systems in the region is benefiting from the higher customer willingness to adopt green practices as a result of both voluntary environmental stewardship and stringent building energy efficiency regulations. Asia-Pacific is forecast to record the fastest growth with a compounded annual rate of 48% over the analysis period. Strong residential and commercial construction activity, growing importance of energy conservation, and government backing for solar energy sector are expected to bolster demand for building integrated PV systems in the region.

Major players covered in the report Ascent Solar Technologies Inc., Canadian Solar Inc., Dyesol Ltd., First Solar Inc., Hanergy Holding Group Ltd., Global Solar Energy Inc., Hanwha Q CELLS Co. Ltd., Heliatek GmbH, Sharp Corporation, Trina Solar, Wuxi Suntech Power Co., Ltd., Yingli Green Energy Holding, Asahi Glass Co. Ltd., BELECTRIC GmbH, CertainTeed Corporation, Dow Solar, Ertex solartechnik GmbH, and Onyx Solar Group LLC among others.

The research report titled “Building Integrated Photovoltaics (BIPV): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, and strategic industry activities. The report provides market estimates and projections in Kilowatts (Annual Installation Capacity) for major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India and Rest of Asia Pacific), and Rest of World. The report is analyzed by following segments – Architectural, Roofing and Others. 

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