Wellesley, Mass, Jan. 23, 2017 (GLOBE NEWSWIRE) -- Energy efficiency in buildings has become a key factor in the green movement, helping to drive the building-integrated photovoltaics (BIPV) global market. BCC Research reveals in its new report that BIPV has limitless market potential because buildings account for more than 40% of all energy consumption.
BIPVs are photovoltaic materials that replace conventional building materials in components of the building envelope, such as the roof, skylights or facades.
The global market for building-integrated photovoltaic (BIPV) technologies should grow from $2.4 billion in 2016 to $4.3 billion by 2021, demonstrating a five-year compound annual growth rate (CAGR) of 12.2%. The standing seam metal roofing market, the largest segment, should reach $676.8 million and $972.5 million in 2016 and 2021, respectively, reflecting a five-year CAGR of 7.5%. The facades market is expected to increase from $690.5 million in 2016 to $754.2 million by 2021, at a five-year CAGR of 1.8%.
The photovoltaics industry is transitioning from an expensive renewable technology to a major factor in the world’s energy supply. Annual market value of installed product now is measured in the tens of billions of dollars (U.S.) , and the trend remains upward, despite an uneven global economy.
There remains a broad-based business in adding PV capacity to residential, commercial and institutional buildings. This latter, building-related application of PV technology, known as “behind the meter,” is the highest-value application for PV, at least for grid-connected applications. Power is always produced at the peak of the day when prices are highest and delivery of power from distant sources would otherwise be needed.
With knowledge of the built environment’s contribution to greenhouse gases (GHG) emissions, energy consumption and local tax shortfalls, governments are moving to energy demand as a revenue source. BIPV may not be a mandatory requirement, but it gains LEED (Leadership in Environmental Design) points for a building. Governments at all levels on both the European and North American continents have established green building criteria as mandatory for new institutional buildings (up to 25% of the construction market). Even China, which possesses more than 80% of the world’s production capacity for PV, has instituted its own form of green building standards.
"BIPV is being encouraged by many national governments that realize that solar farms cannot be allowed to replace food farms," says BCC Research analyst Erik Vickstrom. "The external surfaces of buildings are suitable for hosting or being replaced by PV materials. But BIPV is not expanding rapidly in all directions. Roofing is still in a period of early market acceptance."
Building-Integrated Photovoltaics (BIPV): Technologies and Global Markets (EGY072C) analyzes the PV production capacity in China, the emergence of c-Si and poly-Si technologies, as well as a-Si, CIGS, DSSC, and OPV materials. The report also examines existing and near-future markets for BIPV capacity by PV technologies, annual capacity additions, application sector, and revenue to manufacturers. Global market drivers and trends, with data from 2015, estimates for 2016, and projections of CAGRs through 2021 also are provided.
About BCC Research
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