Residential Building Integrated Photovoltaic Market to 2035 - Strategic Developments & Key Insights

 

The global building-integrated photovoltaics market size was estimated at USD 23.67 billion in 2023 and is projected to reach USD 89.8 billion by 2030, growing at a CAGR of 21.2% from 2024 to 2030. Rapid expansion of the solar photovoltaic (PV) installation capacities of different countries, coupled with increasing demand for renewable energy sources, is expected to drive the building-integrated photovoltaics (BIPV) market growth across the world.

Increased awareness for energy security and self-sufficiency and favorable government legislations, coupled with the unilateral obligation of countries such as Germany, Italy, France, the UK, the U.S., China, Japan, and India to the Kyoto Protocol, designated to reduce greenhouse gas (GHG) emissions, are also expected to promote the market growth in the coming years.

Recent Development

•            In September 2022, Saint-Goblin announced a joint venture with Swiss building-integrated photovoltaic (BIPV) module manufacturer Megasol. As part of the agreement, Saint-Gobain acquired a minority stake in the company's Switzerland-based BIPV module development and manufacturing business.

•            In September 2022, German glass and building materials manufacturer Grenzebach Group announced that its subsidiary Envelon will open a building photovoltaic (BIPV) module production facility with an annual capacity of 300,000 square meters in Bavaria, Germany.

•            In December 2021, Italian solar panel manufacturer Solarday produced four glass-glass monocrystalline PERC BIPV panels in red, green, gold and gray colors. The power conversion efficiency of the product is 17.98%, and its temperature coefficient is -0.39% per degree Celsius. Along with higher power conversion capability, it also adds aesthetic value to buildings by varying colors.