BIPV Market and Outlook
The BIPV market is rapidly growing in the last years. The global market was estimated at 2.3 GW in 2015 compared to 1.5 GW in 2014. Developed countries, especially Europe and the United States, are dominating the global BIPV market. This can be explained by the fact of the new environmental regulations, coupled with rising pressures to minimize energy consumption from buildings to reduce the CO2 emissions. With 41.7 %, Europe is leading the BIPV market of installation capacity in 2015. The IEA global trend analysis forecasts 27 % of the electricity production from solar in 2050, out of that 16% out of PV, 11 % out of solar thermal electricity.
Market growth at country level mainly depends upon regional as well as national polices. Several countries such as Spain, France, Italy, Germany, Austria and Greece introduced their own feed-in tariff system to boost the BIPV installation in their country. An impact on the market is also favoured by government mandates that necessitate all new buildings constructed in the EU to be nearly zero energy after 2020. (Commission 2011)
Growing at a Compounded Annual Growth Rate (CAGR) of 39% over the analysis period 2014-2020, annual installation capacity of BIPV market is projected to further surpass 11GW by the year 2020. The growth is justified through the rapidly plunging installed cost per watt; enhanced aesthetics of BIPV; improving efficiency of c-Si modules as well as flexible thin-film panels; and unabated desire among residential and commercial owners to “go green” and to reach the national energy efficiency targets.
In the upcoming years, BIPV market is expected to grow strongly driven mainly by the revival of the construction industry. New constructions, retrofits and refurbishment works in both commercial and residential sectors are also expected to drive up strong demand for BIPV products in the coming years. Future growth prospects in the global BIPV market are significantly dependent on the extent of efforts by key members of the BIPV supply chain to enhance design and integration of PV into building structure; development of BIPV specific building codes and standards;and availability of attractive incentives at local and federal level to ensure cost-effectiveness of BIPV products. Segment-wise, BIPV Roofing represents the largest segment in the global BIPV market, with an estimated 38,4% share of annual installation capacity in 2015. From an estimated 890 MW in 2015, the BIPV roofing market is projected to reach about 3 GW by 2020, growing at a compounded annual growth rate of 29% over the review period.