Global Building Integrated Photovoltaics (BiPV) Market to Reach US$83.3 Billion by 2030

The global market for Building Integrated Photovoltaics (BiPV) estimated at US$20.9 Billion in the year 2023, is expected to reach US$83.3 Billion by 2030, growing at a CAGR of 21.9% over the analysis period 2023-2030. Roofs, one of the segments analyzed in the report, is expected to record a 20.6% CAGR and reach US$46.1 Billion by the end of the analysis period. Growth in the Walls segment is estimated at 23.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$3.5 Billion While China is Forecast to Grow at 26.3% CAGR

The Building Integrated Photovoltaics (BiPV) market in the U.S. is estimated at US$3.5 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$17.9 Billion by the year 2030 trailing a CAGR of 26.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 17.1% and 20.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 21.8% CAGR.

Global Building Integrated Photovoltaics (BiPV) Market - Key Trends & Drivers Summarized

Building Integrated Photovoltaics (BiPV) represent a revolutionary approach to incorporating renewable energy generation directly into the architectural design of buildings. Unlike traditional photovoltaic systems that are added onto buildings, BiPV systems are integrated into the building envelope, such as facades, roofs, and windows, serving both as building materials and power generators. This dual functionality not only provides clean energy but also contributes to the aesthetic appeal and overall structural integrity of buildings. The adoption of BiPV is driven by the increasing demand for sustainable building solutions and the need to reduce greenhouse gas emissions.

The technology behind BiPV involves the use of advanced photovoltaic materials that can be seamlessly integrated into various building components. These materials include thin-film solar cells, crystalline silicon solar cells, and organic photovoltaic cells, each offering different advantages in terms of efficiency, flexibility, and transparency. The integration process requires careful design and engineering to ensure that the photovoltaic elements align with the building`s architectural requirements and performance standards. Additionally, BiPV systems can be connected to the grid or used in conjunction with energy storage systems, enhancing their functionality and reliability.

The growth in the BiPV market is driven by several factors. The increasing emphasis on sustainable and green building practices is a major driver, as BiPV systems help achieve energy efficiency and sustainability goals. Technological advancements in photovoltaic materials and integration techniques are enhancing the efficiency and aesthetic versatility of BiPV systems, making them more appealing to architects and builders. Government incentives and regulations promoting renewable energy adoption and energy-efficient building standards are also boosting market growth. The rising cost of conventional energy sources and the decreasing cost of photovoltaic technologies further contribute to the adoption of BiPV systems. Moreover, the growing awareness of the environmental impact of buildings and the desire for energy independence are encouraging the integration of BiPV in both new constructions and retrofitting projects.