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Global Building Integrated Photovoltaic (BIVP) Market Projections Highlight Positive Revenue Share during 2018-2027
, March 30, 2019 ) Increasing preference for renewable sources of energy such as solar power has remained instrumental in driving the need for building integrated photovoltaic (BIVP). Building integrated photovoltaic (BIVP) being used during the concoction of a building in place of conventional construction material has accelerated the growth of the Building Integrated Photovoltaic (BIVP) Market, given their cost reduction abilities in construction. Moreover, properties of solar photovoltaics with respect to one time investment and continuous availability of electricity has furthered the demand for building integrated photovoltaic (BIVP) at a global level. Solar, being a rapidly expanding source of energy, has witnessed significant proliferation in the construction industry worldwide, which is a key prospect in the building integrated photovoltaic (BIVP) industry.
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Pervasiveness of solar has resulted in the development of novel solutions in the building integrated photovoltaic (BIVP) space. For instance, a recent partnership between Ubiquitous Energy and Asahi Glass is likely to send the market for building integrated photovoltaic (BIVP) soaring. The application of transparent solar PV coating on glass can lead to environment friendly solutions, reveled Asahi Glass Building and Industrial Company. By developing such transparent, aesthetically attractive, power producing glass this strategic alliance eyes to provide an efficient building integrated photovoltaic (BIVP) solution that is seamlessly integrated and effective.
Building Integrated Photovoltaic (BIVP) are basically photovoltaic materials, which are utilized as a substitute for the conventional building materials in the parts of the building envelop for example facades, roof and skylights. Building Integrated Photovoltaic are gradually being amalgamated as key source of electric power during the construction of new buildings, though present building is already having similar technology. There are many advantages associated with integrated photovoltaic and one of the key benefits is its initial cost can be balanced by dropping the amount spent on labor and building materials, which would generally be utilized to build the part of a building by replacing BIPV modules. These various benefits associated with BIVP technology make it a rapidly growing sector of photovoltaic industry.
One of the most decent and favorable ways of creating electricity directly from the sun is offered by Building Integrated Photovoltaic (BIPV). This technology does not harm environment or reduce resources. Two purposes are served with Building Integrated Photovoltaic technology- they can generate power and they exchange envelop materials of conventional building. This technology is adopted while constructing many building in Europe, while in Canada it is an emerging practice. As various economic and monetary benefits offered by various governments are increasing the growth of Building Integrated Photovoltaic market.
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This sector is likely to be benefitted by growing efforts of various government agencies for the promotion of solar energy. In terms of obtaining the silicon from electronic industry, this industry has been witnessing a tough competition because of growing demand for laptops and smartphones. Moreover, remarkable technological advances related to development of products and manufacturing technology are two important factors which are expected to fuel the growth of the Building Integrated Photovoltaic market.
Due to increasing number of incentives and legislations in support of Building Integrated Photovoltaic, Europe region is dominating the market. Huge opportunities have been witnessed in this market in Building Integrated Photovoltaic market. It has also been observed that highest revenue share in the market is captured by commercial buildings, while industrial building has grabbed least revenue share. The necessity of higher initial investment is the key reason for reduced adoption in industrial buildings. Nevertheless, it has been observed that lately level of adoption is slowly growing in the industrial building sector due to growing number of awareness campaigns and displaying developments by the key players.
Building Integrated Photovoltaic (BIVP) Market- Key Players
Scheuten Solar Holding, First Solar, Heliatek, Sharp, Ertex Solar, Suntech Power Holdings, Ascent Solar Technology, Dyesol, Trina Solar, Centrosolar, and Yingli Green Energy Holding are some of the key players functioning in the Building Integrated Photovoltaic market.
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FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market insights reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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