Federal Subsidies Lower Costs in BIPV Market Growth
A new technology that could potentially revolutionize the renewables industry, building integrated photovoltaics (BIPV) are solar power generating systems that integrate into the building itself, thereby replacing traditional materials. BIPVs convert solar energy into electricity and provide buildings with daylight illumination, safety, and thermal insulation. BIPVs harness solar energy directly without polluting the environment and generate electricity with virtually non-existent transmission losses. The two main benefits are zero pollution and material depletion, thereby contributing to a more sustainable future by replacing conventional fossil fuels. The three primary application areas of BIPVs comprise roofs, facades, and externally integrated systems. The main BIPV types available in the building integrated photovoltaics market include complete solar roof panels, thin film solar panels, solar facades, in-roof solar panels, and solar carports.
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Versatility of BIPV Systems Could Make Shine as Solar Power Mandates Loom Large
As the requirement of working spaces increases manifold, the demand for renewable energy is acutely felt in airports, hospitals, and other commercial spaces. There is every indication that solar power could become mandatory in the near future. BIPV systems can be deployed in the construction phase or even retrofitted when an existing component needs to be replaced. PV designers and innovations specialists are looking at new ways of incorporating solar energy into their designs, boosting the overall building integrated photovoltaics market.
BIPVs Deliver ROI and Improve Visual Appearance of Projects Making Them Lucrative
Green roofing plays a major role in minimizing air pollution and saving energy, making it unsurprising that the segment should gain popularity in the forecast period. BIPV has a very high ROI and opens limitless opportunities for designers and architects to enhance the aesthetic appeal of buildings. Crucially, building owners benefit from lesser utility bills and increased goodwill as they are spearheading the adoption of an innovative approach.
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Urgent Need for Government Support to Shift BIPV Market from Niche to Mainstream
Governments already offer various promotional policies to foster growth in the building integrated photovoltaics market with financial and economic incentives being commonplace. Solar roofing becomes highly cost-effective and beneficial after the introduction of federal subsidies, tax credits and other programmes. At present, BIPV is a niche market accounting for less than 1% of the photovoltaic market and is installed in flagship ventures. The importance of building integrated photovoltaics in architecture can scarcely be overstated and is only expected to rise in the days ahead. A model example of building integrated photovoltaics integration is the Copenhagen International School’s KROMATIX project.
Standardization and Workforce Training is the Need of the Hour in BIPV Market
Nonetheless, challenges such as differing technical regulations, the lack of a skilled workforce, and higher costs due to lower automation must be addressed in the building integrated photovoltaics market. For e.g. – Europe has the European Energy Performance of Buildings Directive but its implementation differs from country to country across the continent. In addition, the lack of harmonisation amongst building codes inhibits growth in the building integrated photovoltaics market.
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