The BIPV boom, by 2032 Building Integrated Photovoltaics will be worth over $143 billion
Europe held 40% of the global turnover share of BIPV in 2022
– The market is ready and the increasing demand highlights its potential. The Building Integrated Photovoltaics market will reach 143,99 million dollars by 2032. After 2022 closed with 19 billion dollars in revenue, the size of the BIPV – Building Integrated Photovoltaics – grew to reach 23.28 billion dollars in 2023. The estimates speak of a steady growth of about 22.5% from today and for the next 9 years. The Precedence Research Report confirms this.
What is meant by Building Integrated Photovoltaics
BIPV technology perfectly integrates photovoltaic technology inside the building envelope, transforming components such as the roof, walls, or windows into real clean energy generators. The Building Integrated Photovoltaics also eliminates the additional mounting structures usually needed to install solar panels in addition to architecture. Not only. The BIPV can also be used as shading systems of parking lots, canopies, and connecting paths, combining two essential elements in counting the energy needs of a building: the reduction of solar gain, resulting in reduced cooling costs, and clean energy production directly on site.
The increasing demand for more efficient buildings, but also the need to minimize land consumption, will lead the BIPV market to exponential growth. Building Integrated Photovoltaics technology encompasses multiple market segments, but in addition to the most discounted, in recent years Building Automation System solutions are gaining ground.
Smart city, smart buildings, quality of design and aesthetics of future green architecture, will make the global market of BIPV a point of reference for investments
What technology will dominate the market?
Two technological segments guide the integrated photovoltaic market: thin film technology and solutions with crystalline silicon. Moving towards a historical moment characterized by increasingly extreme weather events, it is precisely this latest technology, that offers the greatest resistance, to dominate the sector. According to the report, this technology is destined to hold 70% of the market share of the next analyzed period, accomplices also the prices in decrease.
Which global area will hold the largest share?
According to the report, it is Europe that will take the biggest share. In 2022 the European integrated photovoltaic market held 40% of total sales, followed by the Asia Pacific regions with 29% of the total due to the rapid growth of the construction sector. In third place is the North American market with 21% of the total held by the United States and Canada.
The next steps of the European Commission and the trend towards an immobilized heritage composed of Zero Emission Buildings will mark the final goal of the BIPV. However, there are still several problems to be solved to ensure the complete diffusion of integrated systems in buildings. The first problem is the costs of installation and production of components, higher than the more conventional solutions. In addition, a skilled workforce will be needed, which, on the other hand, will produce growth in employment levels.
Among the most famous examples of architecture that exploit the properties of photovoltaic integrated in buildings to improve their efficiency and aesthetics, is also the Torre Gioia 22, designed by Pelli Clarke Pelli Architects for Milan.
