Building-integrated Photovoltaics Global Market Report 2024

Building-integrated photovoltaics (BIPV) refer to solar energy-generating products seamlessly integrated into the building envelope, serving as integral components such as facades, roofs, and windows. BIPV systems not only function as the exterior layer of the building structure but also generate power for on-site use or export to the grid. This dual-purpose system contributes to cost savings on materials and electricity, reduces pollution, and enhances the architectural appeal of a building. BIPV systems are typically integrated during the development phase of a new building or incorporated during the renovation of an existing structure when replacement of a specific building component is required.

The primary product types of building-integrated photovoltaics include polycrystalline, thin-film, and others. Thin-film products are characterized by very thin layers of photovoltaically active material applied to a glass or metal substrate using vacuum-deposition manufacturing techniques similar to those used in architectural glass coating. These BIPV applications cover roofs, facades, glass, and other components utilized in residential, commercial, and industrial buildings.

The building-integrated photovoltaics market research report is one of a series of new reports that provides building-integrated photovoltaics market statistics, including building-integrated photovoltaics industry global market size, regional shares, competitors with a building-integrated photovoltaics market share, detailed building-integrated photovoltaics market segments, market trends and opportunities, and any further data you may need to thrive in the building-integrated photovoltaics industry. This building-integrated photovoltaics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The building-integrated photovoltaics market size has grown exponentially in recent years. It will grow from $16.65 billion in 2023 to $20.81 billion in 2024 at a compound annual growth rate (CAGR) of 25.0%. The growth observed during the historical period can be attributed to various factors, including increased environmental awareness and demand for sustainable building solutions, the enforcement of stricter building energy codes and green building certifications, urbanization driving the need for space-efficient renewable energy generation, energy price volatility, and a growing investment in the research and development of BIPV products.

The building-integrated photovoltaics market size is expected to see exponential growth in the next few years. It will grow to $48.44 billion in 2028 at a compound annual growth rate (CAGR) of 23.5%. The anticipated growth in the forecast period can be attributed to factors such as rising electricity prices and considerations for grid resilience, the expansion of BIPV applications beyond rooftops, a growing demand for aesthetically pleasing and customizable BIPV solutions, support from the architectural and construction industries, and increasing environmental concerns. Key trends expected during this period include the integration of BIPV into smart building and IoT systems, advances in solar technology, partnerships between solar manufacturers, architects, and construction firms, the adoption of net-zero energy and carbon-neutral building trends, and ongoing technological innovations in BIPV materials and designs.

The building-integrated photovoltaics market anticipates significant growth, driven by the increasing demand for zero-energy buildings. Zero-energy buildings, aiming for minimal environmental impact, combine energy efficiency and renewable energy to only consume what can be produced onsite sustainably. The global focus on reducing carbon emissions from the construction sector has led to a surge in demand for such energy-efficient structures. Notably, investments in building energy efficiency reached USD 237 billion in November 2022, a 16% increase, as reported by the United Nations Environment Programme. Despite this progress, operational energy-related CO2 emissions rose by 5% in 2021, highlighting the need for advanced solutions like building-integrated photovoltaics.

The rise in cost-saving construction projects is another key driver for the building-integrated photovoltaics market. Economic uncertainties, competitive pressures, and sustainability goals are prompting initiatives to save costs in the construction sector. Building-integrated photovoltaics (BIPV) present a solution, reducing long-term energy costs through on-site renewable electricity generation while seamlessly integrating with the building's architecture. For instance, the adoption of solar shingles, or photovoltaic shingles, during construction is considered a cost-saving initiative. Despite potentially higher installation costs, the benefits, including a 40%-60% reduction in annual energy costs and eligibility for federal solar tax credits, make BIPV an attractive choice for cost-conscious projects.

The growth of the building-integrated photovoltaics system market is fueled by favorable government initiatives supporting the adoption of solar energy panels. Governments globally are introducing measures to accelerate clean energy transitions and decrease reliance on non-renewable sources. Building-integrated photovoltaics systems, integrated into structures during construction, play a vital role in capturing and converting solar energy into electricity. For instance, in May 2021, the US Department of Energy (DOE) announced $15.5 million in new funding to assist underrepresented communities in adopting solar energy and fostering a diverse and capable workforce. These government initiatives are expected to significantly contribute to the growth of the building-integrated photovoltaics system market.

The building-integrated photovoltaics market is witnessing a significant trend as major manufacturers strategically invest in new production facilities to meet rising demand. In July 2021, Mitrex, a Canada-based solar technology producer specializing in building-integrated photovoltaics (BIPV), inaugurated its state-of-the-art production facilities in Toronto, Ontario. Marked as the world's largest structure incorporating Mitrex's proprietary solar technology, including solar cladding, windows, and railings, the facility showcases a fully automated production line and an impressive 3D exterior wall covering 100,000 square feet. This milestone solidifies Mitrex's position in North American and global markets, driven by robust R&D efforts, enhanced production capabilities, and expanded supply chain capacity.

In the competitive landscape of the building-integrated photovoltaics systems market, major companies are launching innovative products to gain a strategic advantage. An example is the introduction of the Galaxy Series, an ultra-lightweight BIPV product designed for industrial and commercial use. Launched in March 2023 by GoodWe, a China-based manufacturer and smart energy solutions provider, the Galaxy Series features a frameless design with a mere 6kg/㎡ weight. This characteristic makes it suitable for roofs with limited load-bearing capacity and suboptimal waterproofing. The Galaxy Series stands out for its reliability, incorporating 1.6mm ultra-thin glass, ensuring resilience against hail, strong winds, and providing enduring safety and weather protection to buildings. Such innovations position companies favorably in the competitive BIPV market landscape.

Major companies operating in the building-integrated photovoltaics market include First Solar Inc., Sharp Corporation, Yingli Solar, Solar Frontier, SunPower Corporation, Hanwha Solar, Renewable Energy Corporation, Panasonic Corporation, Kyocera Document Solutions Company, Canadian Solar Inc., Suntech Power Holdings Co. Ltd., Harsha Abakus Solar Private Limited, Ascent Solar Technologies Inc., Greatcell Energy Limited, Global Solar Energy Inc., Hanergy Holding Group Ltd., Onyx Solar Energy S.L., ISSOL SA, Solarcentury Holdings Limited, Trina Solar Limited, Hanwha Q CELLS Co. Ltd., GAF Energy LLC, RGS Energy, NanoFlex Power Corporation, Tesla Inc., Jinko Solar Holding Co. Ltd., LG Electronics Inc., SolarWorld Americas Inc., Sanyo Electric Co. Ltd., Mitsubishi Electric Corporation, SolarCity Corporation, REC Solar Holdings AS, Enphase Energy Inc., SolarEdge Technologies Inc., SMA Solar Technology AG, ABB Ltd., Schneider Electric SE, Siemens AG, General Electric Company

Asia-Pacific was the largest region in the building-integrated photovoltaics market in 2023. The regions covered in the building-integrated photovoltaics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the building-integrated photovoltaics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The building-integrated photovoltaics market consists of sales of photovoltaic foils, photovoltaic tiles, photovoltaic modules and solar cell glazings. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.