Currently a niche and a key thin-film technology future market, BIPV is set for strong growth in the coming years, according to a new report from market research firm, Pike Research. The market dynamics for BIPV are currently changing and the market research firm is forecasting a tenfold increase by 2016, approaching 2.4 gigawatts (GW) worldwide. In comparison, Pike Research put the BIPV market at only 215 megawatts (MW) in 2009. Although difficult to forecast, Pike Research that the BIPV market will generate annual wholesale market revenues of US$4 billion by 2016, under a base case scenario.
“Rapidly falling cost per watt will be a major driver of BIPV and BAPV installations in the coming years,” says senior analyst Dave Cavanaugh. “In addition, rooftop installations are becoming much easier with the market entry of new, high-efficiency CIGS-technology panels and shingles. At the same time, the aesthetic appeal of BIPV and BAPV is improving with the introduction of solar crystalline-silicon modules and thin film tiles and shingles that blend into building facades, atria and rooftops.”
To support its market growth claims, the market research firm believes that there are other key growth drivers such as newly-instituted generous BIPV/BAPV feed-in tariffs in countries such as Italy, Japan, France, the United Kingdom, and the Canadian province of Ontario.
Cavanaugh believes that the United States will institute BIPV/BAPV incentives beginning in 2011. Additional factors that are likely to fuel adoption of BIPV/BAPV are efficiency improvements in both c-Si modules and flexible thin film panels and shingles.
As with the case of solar shingles, Dow Chemical has recently announced that it would be marketing its unique product in 2011 as it is currently planning for volume production.
Such developments are expected to enhanced the supply chain for BIPV/BAPV solar products, making it much easier for rooftop installations, reflecting an increasing desire to “go green” by owners of residences and commercial buildings, according to the market research firm.