New Study On Global Building-Integrated Photovoltaics (BIPV) Market 2012 - 2018 Published by MarketResearchReports.biz

Building integrated photovoltaics (BIPV) market makes up an important part of current world Photovoltaics market. The global market for BIPV is expected to reach the capacity of 11,392 megawatts by the year 2015 at the compounded annual growth rate of 56%. Among the various segments of this market, BIPV roofing is the largest segments accounting for 3,197 megawatts by year 2015 with the CAGR of 51%.

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Increase in the demand for energy and rapidly depleting energy sources are creating the need for alternative energy sources. Building integrated photovoltaics will enable energy generation, thus satisfying demands like heating and cooling of a building. Photovoltaic material is incorporated in the building at the time of construction for fulfilling the energy needs of the building. This material will help in generation of heat and electricity that can be used for various purposes. Most of the nations are adopting and encouraging the construction of such energy efficient buildings.

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Technological improvements in photovoltaic industry to increase device efficiency and reduce costs are also driving this market. World market for BIPV has entered the times of double digit growth in 21st century. This has been driven by acceleration in extension of production quantities of most components and declining price of PV materials. Trend towards declining prices in industry encouraged the emergence of many new market players.

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