Building Integrated Photovoltaics (BIPV) Market Size- By Product Type (Crystalline Silicon, Thin Film), By Application (Roof, Wall, Facades, Windows), By End-use Industry (Residential, Commercial, Industrial), Regional Outlook & Forecast, 2024 - 2032

Building Integrated Photovoltaics Market Size

Building Integrated Photovoltaics Market was valued at USD 23.4 billion in 2023 and is estimated to register a CAGR of over 20% from 2024 to 2032, propelled by the heightened emphasis on renewable energy, which is influenced by various global trends and shifts in policy, technology, and consumer behavior.
 

The concept of Net Zero Energy Buildings (NZEB), which produce as much energy as they consume over the course of a year, is gaining traction globally. BIPV is essential in achieving NZEB status as it allows buildings to produce renewable energy without sacrificing design integrity or usable space. Many governments around the world are implementing stringent regulations aimed at reducing carbon emissions and enhancing building efficiency. Some regions have set specific timelines to achieve net-zero emissions in public & private buildings. Within this regulatory framework, BIPV emerges as an attractive solution as it seamlessly integrates solar energy generation directly into the building envelope. This approach aids in meeting ambitious energy and environmental goals by maximizing renewable energy utilization.
 

One of the most significant barriers to the widespread adoption of BIPV technology is the high initial investments required. The cost of BIPV components, which include photovoltaic cells integrated into building materials such as windows, facades, and roofing, is generally higher than traditional building materials and conventional solar panel systems. This higher cost can deter builders and developers, especially in regions with limited financial incentives or subsidies for renewable energy installations.
 

Building Integrated Photovoltaics Market Trends

As smart building technologies gain popularity, BIPV systems are increasingly being integrated with building management systems (BMS) that control lighting, heating, and air conditioning to optimize energy use. The integration of BIPV with smart grids and energy management systems allows buildings to not only generate their own power but also to use it more efficiently, enhancing the overall energy performance of buildings. BIPV products are increasingly being designed to blend seamlessly with traditional building materials. Manufacturers are now producing solar panels that resemble conventional building elements such as roof shingles, facades, skylights, and windows. This aesthetic compatibility is crucial for wider acceptance and application of BIPV in both new constructions and retrofit projects.

As urban areas continue to grow, there is a heightened focus on sustainable development practices. BIPV is recognized as a key technology that supports urban sustainability by reducing a building's carbon footprint and enhancing its energy self-sufficiency. Urban planners and developers are increasingly integrating BIPV into their projects to meet both regulatory requirements and community expectations for sustainable development.

Building Integrated Photovoltaics Market Analysis

Based on product type, the crystalline silicon segment dominated the global market with a share of over 40% in 2023. crystalline silicon cells are known for their high efficiency in converting sunlight into electricity. Monocrystalline silicon, in particular, offers the highest efficiency rates among all solar technologies, which can range from about 15% to over 20%. This high efficiency is crucial for BIPV applications where maximizing energy output from limited surface areas on buildings is essential.

Crystalline silicon solar cells can be integrated into a variety of building materials and structures including glass facades, roofing materials, and shading elements. Their versatility in design allows architects and building designers to incorporate solar energy generation seamlessly into building aesthetics, contributing to the growing adoption of BIPV systems. BIPV systems based on crystalline silicon solar cells offer significant environmental benefits including reduced greenhouse gas emissions, decreased reliance on fossil fuels, and conservation of natural resources. The environment-friendly attributes of crystalline silicon technology resonate with environment-conscious consumers and businesses, driving the demand for BIPV installations.
 

Based on application, the facade segment is expected to register a CAGR of over 20.5% during 2024 to 2032 and is projected to surpass USD 40.5 billion by 2032. One of the primary advantages of BIPV technology in facades is its ability to seamlessly blend with the building’s architecture. Modern BIPV systems can be incorporated into glass and other facade materials that not only look attractive but also maintain the design integrity of the building. This aesthetic appeal is crucial for architects and builders looking to integrate renewable energy solutions without compromising on the visual impacts of their designs.
 

Asia Pacific building integrated photovoltaics market is expected to grow at a CAGR of over 21.5% through 2032. Governments across the region are increasingly supporting renewable energy through mandates and incentives. Countries including China, Japan, and South Korea have introduced policies that encourage the adoption of solar energy. These policies are crucial in making BIPV solutions more financially attractive and feasible. According to China’s National Energy Administration, the country added over 216 GW of solar capacity in 2023 and according to the IEA Report, China has invested over USD 50 billion in new PV supply capacity.
 

Moreover, Asia Pacific is experiencing rapid urbanization with extensive new construction and infrastructure development, particularly in countries including China, India, and Southeast Asia. This surge in building activity creates substantial opportunities for integrating BIPV solutions into both new buildings and renovations, driving market growth. With rising populations and economic growth, the demand for energy in the Asia Pacific region is skyrocketing. BIPV provides a way to meet this growing energy demand sustainably, reducing reliance on imported fossil fuels and improving energy security.  
 

Building Integrated Photovoltaics Market Share

AGC Inc. and ONYX Solar Group LLC hold a significant share of over 2% in the building integrated photovoltaics industry. AGC Inc. holds a significant revenue share due to its innovative glass solutions that seamlessly integrate solar technology into building facades and roofing. AGC's commitment to sustainability and energy efficiency, combined with its cutting-edge technology and broad range of aesthetic options, positions it as a leader in transforming buildings into energy-generating structures.
 

ONYX Solar Group LLC holds a major market share in the building integrated photovoltaics market due to its specialization in producing high-quality photovoltaic glass for integration into buildings. Their innovative solutions, which combine aesthetic architectural designs with energy efficiency, have made them a preferred choice for sustainable building projects worldwide, effectively transforming ordinary surfaces into solar energy generators.
 

Building Integrated Photovoltaics Market Companies

Major players operating in the building integrated photovoltaics industry are:

• AGC Inc.
• ONYX Solar Group LLC
• Hanergy Mobile Energy Holding Group Limited
• Maxeon Solar Technologies, Ltd. (The Solaria Corporation)
• Tesla, Inc.
• SunPower Corporation
• Ertex-Solar
   

Building Integrated Photovoltaics Industry News

• In April 2023, AGC Inc. announced the integration of SunJoule into the roof of the bicycle parking lot at the Shizuoka Station North Exit Square. This roof was installed by TOKAI Cable Network Corporation and will enable to generate solar power with a maximum output of 3.7kw from Sunjoule.
   
• In April 2022, AGC Inc. launched SunJoule, BIPV module consisting of laminated safety glass with embedded solar cells. SunJoule is available with either monofacial or bifacial cells and spaces between the cells can be customized from 6 mm to 30 mm. An interlayer film is placed between the solar cells and the glass. Each module can have a maximum size of 2,400 mm x 1,800 mm.
   

This building integrated photovoltaics market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Million) from 2021 to 2032, for the following segments:

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Market, By Product Type

• Crystalline silicon
• Thin film
  • Amorphous silicon
  • Cadmium telluride
  • Copper indium gallium selenide
• Others

Market, By Application

• Roof
• Wall
• Facades
• Windows
• Others

Market, By End-use Industry

• Residential
• Commercial
• Industrial

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA