Building Integrated Photovoltaic is one of the promising renewable energy technologies that help in onsite production of electricity. BIPV technology generates electricity from the sunlight without depleting natural resources .For the last few years, Photovoltaic (PV) elements are integral part of the building constructions, as demand of solar electric architecture is rising. Lack of natural resources such as gas and oil are some of the driving forces to adopt BIPV technology in various construction applications. Increasing trend of green and “Leadership in Energy and Environment Design (LEED)” also helps in increasing the adoption of BIPV as a long-term management option.
Government is providing subsidies and economic incentives to increase adoption of BIPV as renewable energy source. The American government is closely monitoring BIPV as it is one of the promising technologies that will help in generating electricity using alternate source of energy. Due to the technology’s efficiency, Department of Energy in the U.S has approved $145 million for BIPV programs. Conventional energy sources have higher percentage of carbon emission that is contributing to pollution. Increasing environmental concerns is also one of the key factors impacting positively to an increased adoption of BIPV market.
Cost and availability of raw materials are major restraining factors that are hindering the market growth. Limited awareness of BIPV technology in Asia Pacific and Row regions are hindering the revenue of BIPV market.
Key companies profiled in this report are Dow Solar, Centrosolar AG, First Solar, Powerfilm Inc, Schott Solar AG, Sharp Corporation, United Solar Ovonic, Wruth Solar GMBH &Co. KG, Ertex Solar GMBH, and Ascent Solar technologies Inc.
KEY MARKET SEGMENTS
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