Both the building industry, which is still plagued by low housing starts and new builds, and the global solar industry, which is facing severe reductions in financial subsidies in key markets, have been under stress in recent years. The emergent market for building integrated photovoltaics (BIPV) offers a new way to develop revenue streams for these two industries.
According to a recent report from Pike Research, the total capacity of BIPV systems worldwide will grow from just over 400 MW in 2012 to 2,250 MW in 2017, a more than five-fold increase. The annual value of the BIPV market is expected to quadruple over the next five years, growing from $606 million in 2012 to more than $2.4 billion in 2017, the study concludes.