According to a new market research report, “Global Building Integrated Photovoltaics (BIPV) Market, By Products, Technologies & Applications (2011 - 2016)”, published by MarketsandMarkets (www.marketsandmarkets.com), the total BIPV market is expected to reach $12.73 billion by 2016 at a CAGR of 16.9% from 2011 to 2016.
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The market for BIPV-based solutions is expected to grow in an exponential manner. Mandate for all the new buildings to be zero emissions by the year 2016 in regions such as Europe is largely driving its adoption level. Installation on commercial rooftops offers larger opportunities that reach several megawatts while it is comparatively lesser for residential rooftops.
With respect to technology, thin film technologies are favored as compared to crystalline silicon technology mainly due to their physical flexibility, comparably low cost, aesthetic factor and the wide range of options provided for installation. Products based on DSSC and OPV are expected to be available in the commercial market in the next 2 to 3 years.
The entire BIPV market is expected to reach $12.73 billion in 2016 from just about $5.82 billion in 2011 at a CAGR of 16.9% from 2011 to 2016. The roofing product is observed to have the highest growth potential in the BIPV market at a CAGR of 17.0% from 2011 to 2016.
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