The
global Building Integrated Photovoltaics (BIPV) Market is expected to undergo
significant growth owing to rising need and requirement to conserve energy. The
product harnesses renewable solar energy to meet electricity requirements of
buildings while adding aesthetic sensibilities to a building structure. It is
increasingly integrated into new buildings and towers as a primary or an
auxiliary source of electricity.
Additionally, it is installed in damaged and replicable building
structures such as facades, skylights, and roof, instead of coating them with
conventional building materials. Increasing consumption of solar energy
worldwide and growing awareness about the product capabilities are further
expected to boost demand.
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The
customers are increasingly saving on the cost of replacement or installation
and the subsequent labor charges, while at the same time producing extra
amounts of electricity in an environmentally friendly manner, is expected to
rapidly increase demand over the forecast period. Additionally, the product is
utilized on weaker and more complicated building structures where the
installation of solar panels is not possible. Moreover, increasing
international and country-wise energy conservation regulations and stringent
government energy consumption limits are promulgating growth of the industry.
A
growing number of subsidies offered by the government are immensely boosting
the industry growth. Chinese government is offering subsidies to boost the
product demand across the country. For instance, “The Golden Sun Demonstration
Project” is a subsidy on photovoltaic materials supporting PV electricity
generation ventures, offering subsidies in the range of 50-70%. In terms of the
rate paid per unit of electricity fed into a grid, France is expected to have
the highest subsidy rate, followed by Germany and Italy. On the basis of
product type, the industry can be segmented into the flat roof, pitched roof,
façade, and glazing. Flat roofs are expected to emerge as the rapidly growing
segment due to ease of installation and use. Demand for facades is gradually
increasing over the years, as existing buildings can be revamped along with
installing an added source of electricity generation. In terms of the
technology used, the market is segmented into crystalline silicon technologies
and thin-film technologies.
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