Market Dynamics
Growing consumer interest in distributed PV technologies and industry competition to reduce installation costs are stimulating the development of multifunctional PV products that are integrated with building materials. This in turn is expected to boost growth of the BIPV roofing market. Several governments across the world are also focused on awarding subsidies for BIPV roofing. This is attributed to increasing focus on use of renewable sources of energy to mitigate the impact of greenhouse gases and carbon emission.
However, BIPV roofing is associated with high costs for installation. Although BIPV roofing can be ideal for commercial spaces, individual customers in the residential sector interpret that the product should cost more, owing to its specialty function and their readiness to pay premiums for that function. Installation of BIPV roofing also requires additional materials such as adhesives and framing and flashing materials, which may further increase the cost of installation. BIPV roofing also faces some performance issues. BIPV roofing may witness higher operating temperatures, degrading the semiconducting material and decreasing its efficiency.
Reduction in installation cost, enhanced aesthetic appeal for roofing, increase in technical potential of BIVP systems, interest from players in the solar industry for investing in BIVP roofing, and favorable government support are some of the opportunities that may contribute to the market size for BIPV roofing. Increased PV-suitable space on buildings and BIPV-specific incentives in select international markets can aid in growth of the market. Established players in the solar industry should focus to expanding their business in BIPV roofing. Moreover, increasing regulations and government targets to meet zero emission is expected to boost market share of players.
Bipv Roofing Market Report Snapshots
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