Global building-integrated photovoltaic (BIPV) market to reach $20.1 billion by 2026

Building-integrated photovoltaics (BIPV) refers to the use of solar panels, shingles and modules in buildings to generate electricity, where the panels are integrated into roof tiles, facades, awnings, windows and other building components. BIPV is essentially a new-age building material that can replace traditional building materials. For example, in a BIPV project, spandrel glazing (vaulted spaces), skylights or roofing materials will be replaced by architecturally equivalent photovoltaic modules, thus fulfilling the dual function of building a roof membrane and generating a generator. Integrated photovoltaic arrays in buildings are used as a secondary or primary source of electricity in many domestic and industrial buildings. BIPV systems are anchored to the utility grid and can be designed as stand-alone and off-grid systems. The grid-tied BIPV system powers the on-site production facility, which is larger during peak building loads. Peak shaving and demand-side management (DSM) features save energy costs.

Amid the COVID-19 crisis, the global building-integrated photovoltaics (BiPV) market was estimated at USD 10.7 billion in 2022 and is expected to reach a revised size of USD 20.1 billion by 2026, growing at a CAGR of 12.4% over the analysis period. C-Si, one of the segments analyzed in the report, is expected to grow at a CAGR of 12.3% and reach $16.3 billion by the end of the analysis period. After a thorough analysis of the business impact of the pandemic and the economic crisis it has caused, the growth of the thin film segment has been recalibrated to a CAGR of 13.6% over the next seven years.