n-tech Research Issues Latest Forecast of Global BIPV Market
GLEN ALLEN, Va., Nov. 11, 2021 /PRNewswire/ — n-tech Research has issued its latest forecast of the global BIPV market. In the new release, n-tech Research sees robust growth of the technology fueled by government policies, near-zero mandates and the availability of off-the-shelf BIPV products. The firm projects that BIPV shipments will grow from 1,925 mw this year to over 6,600 mw in 2025.
Details of the report are available at: https://www.ntechresearch.com/market-reports/building-integrated-pv-markets-2021-2025/
About the report:
The goal of this report is to quantify the market for BIPV in major countries. Ten countries account for the majority of the BIPV market: US, Germany, the UK, Spain, France, Italy, Scandinavia, Japan, China, and South Korea and are the focus of the report with a total global forecast provided. The product breakout is roof, wall, and glass and segmented by type. Buildings analyzed are broken out into finer segments; Government, Corporate offices, Educational, Medical, Hospitality, Transportation centers, Factories, Warehouses, MTUs, and Residential homes.
The deliverable consists of a report and accompanying separate spreadsheet. The BIPV market is presented in both value and MW and broken out by type of building and BIPV product. Clients can purchase the full data set or by product class or major regions. Individual country deep dives are also available.
From the report:
- While BIPV remains to be a less cost effective/efficient solution than traditional solar, the economics of the technology and products continues to improve thus providing building owners a more compelling ROI opportunity. Generous tax incentives combined with aggressive government mandates are also helping to make the case as well. Increasing home prices in the US make the aesthetics proposition much more viable financially.
- Roofing products will dominate the BIPV market through 2025 but both glass and walling/cladding will see higher growth rates, each seeing market activity nearing $3 billion annual revenues at the end of the forecast period. Organic photovoltaics (OPV) will see some growth because of building owners looking to add energy capture to the building structures via windows or cladding. OPV solutions are best suited to leveraging glass surface areas while maintaining aesthetics and controlling light transfer.
- Cost has been a major limiting factor for the BIPV market. Traditional panels are cheaper and yield more energy but at a cost of aesthetics which are not always resolvable. The more up styling of the deployments results in higher cost and a narrowing of the gap between traditional and BIPV though.
- The lack of mass customization and manufacturing capacity has also been a significant cost issue vs traditional solar with its mega factories and standardized products. n-tech notes that efforts in Europe to drive the industry towards mass customization should help bring costs down.
- Although the largest BIPV markets are China and the U.S., Europe is a significant driver of the business and technology. Near-Zero Energy Buildings (NZEBs) mandates throughout the EU have provided some impetus for BIPV deployments especially with the technologies’ ability to fit into building control systems.
About n-tech Research:
n-tech Research provides industry analysis and market forecasting of opportunities presented by advanced materials and their application in energy, electronics, and other innovative market segments. Leveraging the firm’s founders combined 70 years of experience, n-tech Research delivers carefully considered results to clients via its reports and services.
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SOURCE n-tech Research
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