Building Integrated Photovoltaic (BIPV) Market

Building Integrated Photovoltaic (BIPV) Market Outlook (2024 to 2034)

Projected to expand at a CAGR of 16%, the global building integrated photovoltaic (BIPV) market is expected to increase from a size of US$ 21.7 billion in 2024 to US$ 95.6 billion by 2034-end.

Increasing focus on sustainability is boosting the integration of renewable energy systems in several infrastructures. Further the stringent mandates to conserve the environment are expected to boost the building integrated photovoltaic demand over the coming 10 years. The integration of solar power generating products in roofing and facades and introduction of nanocomposite solar cell technology are some of the emerging building integrated photovoltaic market trends.

The world is witnessing substantial increase in focus on sustainability owing to the climate emergency and growing global warming concerns. Respective governments across the world are imposing strict laws to regulate environmental safety and this is expected to boost the building integrated photovoltaic market growth during the next 10 years.

Increasing popularity of solar energy systems, supportive government initiatives to adopt renewable energy resources, growing investments in research and development of novel integrated photovoltaics, rising awareness among consumers regarding clean energy, and the ongoing smart infrastructure development projects are prime factors boosting the sales of building integrated photovoltaics.

• The North American building integrated photovoltaic market size is calculated at US$ 5.2 billion for 2024.
• East Asia is anticipated to hold 23.1% of the global building integrated photovoltaic market share by 2034.

Report Attribute	Detail
BIPV Market Size (2024E)	US$ 21.7 Billion
Forecasted Market Value (2034F)	US$ 95.6 Billion
Global Market Growth Rate (2024 to 2034)	16% CAGR
South Korea Market Value (2034F)	US$ 5.1 Billion
Canada Market Value (2034F)	US$ 8 Billion
Industrial Building Integrated Photovoltaic Demand Growth (2024 to 2034)	17.3% CAGR
Key Companies Profiled	Ertex Solar Suntech Power Holdings Scheuten Solar Holding Centrosolar First Solar Heliatek Sharp Trina Solar Yingli Green Energy Holding Ascent Solar Technology Dyesol

Why Has Building Integrated Photovoltaics Been Gaining Popularity?

“Supportive Government Initiatives Promoting Adoption of Renewable Energy Solutions”

Respective governments across the globe are implementing stringent rules and regulations to protect the environment. They are also promoting the adoption of renewable energy solutions such as solar lighting systems by providing incentives to consumers and companies as well.

• The government in France offers a high feed-in tariff for electricity generated via photovoltaic components that are integrated into buildings.
• The Indian government launched a scheme named ‘PM Surya Ghar Muft Bijli Yojana’ in 2024 with an aim to promote rooftop solar installations, which is estimated to offer 300 units of free electricity to one crore households every month.

Such favorable initiatives by various governments across the world are expected to positively influence the sales of building integrated photovoltaics.

What’s Hurting the Profits of Building Integrated Photovoltaic Producers?

“High Installation Costs Deterring Widespread Adoption of BIPV”

High cost of installing building integrated photovoltaic technology is anticipated to have a constraining effect on their overall consumption throughout the forecast period. The integration of building-integrated photovoltaics converts the infrastructure from energy consumer to producer. To achieve this boon, structures need to adopt these advanced solar technologies including solar ventilations systems, panels, and lightings. But due to their high costs budget-constraint consumers may deter to install them, leading to low sales growth.

How Can Start-ups Make a Mark in The Competitive Business Space?

“Focus on Innovations to Offer Advanced Technologies”

Start-ups should focus on bringing novel solutions and disrupt the market and improve their presence. Advancements in the efficiency of solar energy generation systems are expected to be a key area where new companies can focus their research and development over the coming decade.

Supportive government initiatives to advance the adoption of renewable energy resources are anticipated to provide incentives for new companies that could help them advance their research.

• SunDrive, an Australian start-up offers the most efficient commercial-sized silicon solar cell technology. The company is aiming to optimistically compete with big players in the global market and currently is holding major position the Asian market with the commercialization of its new solar cells.
• A United States-based start-up Gigasolar is offering lightweight solar panels to boost the adoption of photovoltaic technologies. The company’s non-glass panels are manufactured using patent-pending composite material.
• PRAXIS Aeronautics an Australian start-up offers solar-powered wings for fixed-wing unmanned autonomous vehicles (UAVs). The company employs a process that directly integrates solar cells into the composite material.
• A Canadian start-up Edgehog offers anti-reflection solar glass. The company’s solution is considered to be hydrophobic in nature and omnidirectional. The company’s anti-reflection solar glass facilitates super-transmission across the entire spectrum at all angles.

Country-wise Analysis

What’s Augmenting Sales of BIPV Technologies in the United States?

“Growing Popularity of Smart Infrastructure Driving Adoption of Solar Products and Systems”

Attribute	United States
Market Value (2024E)	US$ 2.3 Billion
Growth Rate (2024 to 2034)	16.5% CAGR
Projected Value (2034F)	US$ 10.6 Billion

The United States is the most profitable marketplace in the North American region. The increasing construction activities and high demand for aesthetically appealing solar energy systems for buildings are expected to boost the sales of building integrated photovoltaics in the coming decade. Along with the United States, Canada is also supporting the overall market growth in the North American region.

Will Japan Be a Lucrative Market for Building Integrated Photovoltaic Solution Providers?

“Rising Trend of Sustainability to Open Ample Opportunities for Building Integrated Photovoltaic Technology Providers”

Attribute	Japan
Market Value (2024E)	US$ 1.4 Billion
Growth Rate (2024 to 2034)	16.6% CAGR
Projected Value (2034F)	US$ 6.5 Billion

Increasing efforts by the government to promote the adoption of sustainable solutions in Japan are expected to primarily drive photovoltaic sales in the country. The updated market report by Fact.MR, a market research and competitive intelligence provider, reveals that Japan is expected to hold 29.4% of the East Asian market share by 2034.

Category-wise Analysis

Which Photovoltaic Technology is Widely Popular?

“High Energy Conversion Efficiency and Cost-Effectiveness of Crystalline Silicon Photovoltaic Technologies”

Attribute	Slash Pine
Segment Value (2024E)	US$ 14.1 Billion
Growth Rate (2024 to 2034)	15.3% CAGR
Projected Value (2034F)	US$ 58.3 Billion

Crystalline silicon is one of the major semiconducting materials used in the production of solar cells in photovoltaic technology. Crystalline silicon photovoltaic (PV) cells are widely used in the solar panels available in the market.

• According to a research by Energy.Gov, crystalline silicon cells have lifetime of around 25 years.

These cells are incorporated into building roofs by the use of smart mounting systems. Crystalline silicon photovoltaic technology is considered to be highly efficient and cost effective. The installation does not require high investments. Some consumers prefer to replace their roof tiles with crystalline silicon cells.

Crystalline silicon PV technology is estimated to offer high energy conversion efficiency. The abundant availability of silicon is further boosting the adoption of crystalline silicon PV technologies. Compared to mass-produced single junction device, silicon solar cells offers high efficiency.

Who is a Key End User of Building Integrated Photovoltaics?

“Favorable Polices and Schemes Boosting Adoption of BIPV Solutions in Residential Settings”

Attribute	Residential
Segment Value (2024E)	US$ 9.1 Billion
Growth Rate (2024 to 2034)	14.8% CAGR
Projected Value (2034F)	US$ 36.3 Billion

Building integrated photovoltaic technology can be placed on any of infrastructure then it maybe industrial, commercial, or residential. Supportive initiatives and policies by respective governments across the globe are aiding the installation of building integrated photovoltaic technologies on residential infrastructures.

Residential settings are set to lead consumption of building integrated photovoltaics during the forecast period. Increasing demand for building integrated photovoltaics to minimize reliance on non-renewable energy resources is driving their adopting rates in residential settings.

Competitive Landscape

Some of the key players in the building integrated photovoltaic market are Suntech Power Holdings, Ertex Solar, Centrosolar, First Solar, Scheuten Solar Holding, Heliatek, Sharp, and Trina Solar. Building integrated photovoltaic manufacturers are focusing on launching new and innovative products to maximize their sales potential and gain a competitive edge over other industry leaders in the global landscape.

• In 2022, Risen Energy, a China-based solar module manufacturer, announced the launch of its new BIPV products. The new lineup is claimed to be more environment-friendly and has an improved energy generation performance than the previous lineup.
• In 2022, SunPower Corp. a leading residential solar technology and energy services provider collaborated with General Motors to produce a home energy system for GM electric vehicles which would provide backup when needed.

Key Segments of BIPV Market Research

• By Technology :

  • Crystalline Silicon
    • Multicrytalline Silicon
    • Monocrystalline Silicon
  • Thin Films
    • Dye-sensitized Solar Cells
    • Copper Indium Gallium Selenide
    • Organic Photovoltaic
    • Amorphous Silicon
    • Cadmium Telluride
  • Others

• By Application :

  • Roofs
  • Walls
  • Glass
  • Facades
  • Others

• By End Use :

  • Residential
  • Commercial
  • Industrial

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa