Building integrated photovoltaics market to reach $2.4 Billion by 2017

By Editor


Building integrated photovoltaics market to reach $2.4 Billion by 2017

Greentech Lead India: The market for building integrated
photovoltaics BIPV and building applied photovoltaics (BAPV) will grow from
$606 million in 2012 to more than $2.4 billion in 2017. According to Pike
Research the advent of energy-efficient, flexible, and transparent solar
materials and new BIPV technology will drive this growth.

A new report from Pike Research forecasts that the growth
in the sector will be evenly distributed across Europe, North America, and Asia
Pacific and Western Europe will be the largest market for BIPV products.

The report finds that BIPV products will have excellent
opportunities in emerging markets like Eastern Europe (Lithuania, Serbia,
Slovenia, Poland, and Ukraine), Asia Pacific (especially Australia, China,
India, Japan, Malaysia, and Thailand), Latin America (Brazil and Chile), and
South Africa.

The U.S. market also expects a steady growth, as the government
is paying greater attention to BIPV, as shown by the Department of Energy’s
approval of an additional $145 million in funding for the SunShot Initiative
and specifically BIPV development programs.

Architects now have more choices to use BIPV technology
in their building designs as the new technologies arrive.

“The emerging BIPV market, which straddles the building
industry and the solar power industry, offers a new way to develop revenue
streams for both parties. Solar suppliers have begun to partner with building
and construction companies, as well as designers and architects, and have
gained access to completely new markets,” said Kerry-Ann Adamson, research

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