Building applied photovoltaics refer to photovoltaic materials that are incorporated into the construction of buildings, providing a source of electrical power. Building applied photovoltaics can replace different parts of a building, be it facades, roof, or even skylights. The global building applied photovoltaics market has received a significant impetus in recent years as governments across the world have becoming increasingly aware about the need for renewable sources of energy.
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Factors governing the building applied photovoltaics market
With the expansion of the world’s population, there has been a surge in demand for electricity from around the globe. Owing to continuous efforts to reduce carbon footprint, commercial as well as residential sectors have undergone a paradigm shift in terms of electricity generation, from traditional to renewable sources of power. This has boosted the building applied photovoltaics market. Moreover, governments as well as electricity suppliers have been introducing incentive schemes, attractive Feed in Tariff, and reduced costs to encourage the use of building applied photovoltaics. The Net Zero Energy Building (ZEB) policy is expected to further aid the growth of the building applied photovoltaics market. However, structural compliances and high expense of building applied photovoltaics systems are anticipated to restrain the global market over the forecast period.
Segmentation and analysis
The building applied photovoltaics market can be categorized on the basis of geography, end user, technology, as well as product type. Regionally, the global building applied photovoltaics market is segmented into Europe, Asia-Pacific, North America, and Rest of the World. Product-wise, the building applied photovoltaics market is categorized into facades, rooftop, and others. The key end users of building applied photovoltaics include residential, commercial, and industrial. In terms of technology, the building applied photovoltaics market is divided into thin film, C-Si, and others such as organic photovoltaic (OPV) and dye sensitized cell (DSC).
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In terms of end users, the commercial sector dominated the building applied photovoltaics market owing to solar energy subsidies and revised laws and regulations pertaining to the use of renewable energy sources. The Renewable Energy Law brought into effect in China in 2006 has specifically driven the Chinese building applied photovoltaics market. Among the key building applied photovoltaics products, the rooftop segment has been witnessing a remarkable rise in demand, enjoying 54% share of the global market in terms of volume in 2013. However, growing acceptance and surge in industrial as well as commercial applications is anticipated to fuel the facades segment in the coming years, making it the fastest-growing segment of the building applied photovoltaics market.
In terms of annual installations, the global building applied photovoltaics market stood at 313.4 MW in 2013 and is projected to reach an annual installation of 716.7 MW in 2020, registering a 12.6% CAGR from 2014-2020.
Geographically, North America emerged as the leader of the global building applied photovoltaics market in 2013, with a 31% share of the overall market. There has been an escalation in peak energy demands in this region, coupled with the surging popularity of peak shaving activity. In addition to this, the SunShot initiative by the Brazilian and the U.S. governments has stimulated the financial aspects of building applied photovoltaics, thereby spurting a growth in these regional markets.
Enjoying a 28% of the global building applied photovoltaics market share in 2013, Europe ranked second in terms of market size. Asia-Pacific, on the other hand, holds immense potential for growth owing to rapid commercial development and expansion of various businesses in the field of building applied photovoltaics.
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Building applied photovoltaics market: Competitive landscape
The building applied photovoltaics market is highly competitive and there are numerous companies vying for the top spot in the global market. The key building applied photovoltaics market players include Pythagoras Solar, Power Film, Inc., Ertex solartechnik GmbH, Sapa Soar, First Solar Inc., Onyx Solar Group LLC, CENTROSOLAR Group AG, Ascent Solar Technologies Inc., Sharp Solar, Heliatek GmbH, and Ecotemis. Of these, Sapa Solar, Pythagoras Solar Ltd., Centrosolar AG, First Solar, Inc., and Ascent Solar Technologies, Inc. emerged as the leading companies, accounting for more than 40% of the overall building applied photovoltaics market share in 2012.
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