Key players in the global building applied photovoltaics (BAPV) market include Ascent Solar Technologies Inc., First Solar, Inc., Pythagoras Solar Ltd., Sapa Solar, and Centrosolar AG. These four companies collectively accounted for 40% of the global market in terms of revenue in 2012. Transparency Market Research (TMR) reports in a new study that the market for building applied photovoltaics is driven by growing awareness and government initiatives for the use of renewable sources of energy. At the same time, the lack of local competition is expected to allow the four leading companies to dominate the BAPV market from 2013 to 2020, which is the forecast period of this report.
Eco-friendly Aspects Give Clear Edge to BAPV
Governments of several countries have taken a note of the rising pollution levels and are taking efforts to mitigate the same. The report highlights the subsidy schemes announced by various governments across the world to encourage the use of renewable energy sources, of which building applied photovoltaics are key. The growing global concern to reduce carbon emissions and increased focus on bringing a paradigm shift in electricity generation from conventional to renewable sources is among the other major factor driving the BAPV market globally.
Additionally, owing to high efficiency of BAPV as well as its lower costs as compared to other renewable technologies, first-generation technologies such as C-Si are experiencing a significant rise in demand. Silicon, which is one of the primary raw materials utilized in manufacturing C-Si BAPV modules, is available in abundance and resulting in significant drop in C-Si BAPV module prices. The evolution of second- and third-generation BAPV technologies also depend on silicon and are receiving a major boost. Lower raw material costs makes C-Si BAPV modules quite affordable for end users and hence the demand for these products is expected to surge in the next few years. Recently introduced second-generation technologies demonstrate even higher efficiencies as compared to first-generation technologies. The amount of flexibility and ease of integration offered by thin film technology is likely to attract more consumers, hence driving the growth of the thin film technology segment. The third-generation technologies such as OPV and DSC are still in the development phase.
High Initial Cost Curtailing Progress of BAPV Market
BAPV products have a proven track record as far as return on investment is concerned but the high initial cost of installation is the key factor that is confining the growth of the BAPV market. The report notes that commercial and residential buildings that are currently under construction are more likely to invest in BAPV products than the existing establishments fitted with conventional sources of energy. However, impending government incentive schemes and the influx of financial incentives from various local and global associations have somewhat mitigated this restraint. Plummeting prices of BAPV products have also aided in overshadowing the challenge.
Authors of this study note that the rooftop segment had witnessed a sudden surge in demand in 2013. However, as the usage of building applied photovoltaics is majorly seen in facades, this segment will outpace the former.
The information presented in this review is based on a Transparency Market Research report, titled, “Building Applied Photovoltaics (BAPV) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2013 – 2020.”
Key Segments of the Building Applied Photovoltaics Market
BAPV Market: Product Analysis
BAPV Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)
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