A building-integrated photovoltaic (BIPV) system is an integral component of the building skin that converts solar energy into electricity and, simultaneously, provides protection from climatic conditions as well as noise to the building structure. BIPV is currently one of the rapidly expanding segments of the global solar PV industry.
- Favorable government initiatives and policies
In order to address challenges associated with climate change, major regions across the world are developing policies to move toward ultra-low-energy buildings. The European Union (EU) Energy Performance of Buildings Directive (EPBD) requires all new buildings to be nearly-zero-energy buildings (nZEB) in all EU member countries by the end of 2020. Outside of Europe, the U.S., Japan, and South Korea have also formulated ZEB policies and set goals. Certain leading subnational governments, most notably the U.S. States of California and Massachusetts in the U.S., have set ambitious ZEB targets. For example, the State of California has set the ambitious goal that “all new residential buildings in the state would be zero net energy (ZNE) by 2020 and all new commercial buildings would be ZNE by 2030.” Japan has established targets for ZNE in new public buildings by 2020 and all newly constructed buildings by 2030. In 2014, South Korea formulated the “Activation Plan of Zero Energy Buildings” and set a roadmap to achieve targets along with a financing strategy and subsidies for pilot projects. Such supportive policies are driving the global building-integrated photovoltaics market.
- Higher cost of BIPV systems and lack of awareness
Use of the BIPV (building-integrated photovoltaic) technology converts buildings from energy consumers into energy producers. In order to achieve this, the construction technology is required to be merged with the BIPV technology. The photovoltaic (PV) technology is new and expensive for curtain walls and other aspects of buildings. Moreover, lack of awareness about and inadequate marketing of BIPV products in Vietnam, the Philippines, and certain countries in Africa are likely to hamper the building-integrated photovoltaics market in these countries during the forecast period.
Leverage our Business Intelligence solution for neck-to-neck competition in the Industry, Visit Eminent Advisors