Study: Global installed BIPV to hit 2.4 GW by 2016

This, said the company, is compared to just 215 megawatts (MW) of installed capacity last year.

Furthermore, it believes that both BIPV and building-applied photovoltaics (BAPV) market dynamics will begin to change this year.

In light of its predictions, Pike Research added that this growth will generate annual wholesale market revenues of USD$4 billion by 2016, under a base case scenario.

“Rapidly falling cost per watt will be a major driver of BIPV and BAPV installations in the coming years,” commented senior analyst, Dave Cavanaugh. “In addition, rooftop installations are becoming much easier with the market entry of new, high-efficiency CIGS-technology panels and shingles.

“At the same time, the aesthetic appeal of BIPV and BAPV is improving with the introduction of solar crystalline-silicon modules and thin film tiles and shingles that blend into building facades, atria and rooftops.”

Cavanaugh continued by outlining other key growth drivers, which include newly instituted generous BIPV/BAPV feed-in tariffs in countries such as Italy, Japan, France, the U.K. and Ontario. He also believes it is likely the U.S. will institute BIPV/BAPV incentives beginning next year.

Additional factors that are likely to fuel adoption of BIPV/BAPV, said Pike Research, are efficiency improvements in both c-Si modules and flexible thin film panels and shingles, an enhanced supply chain for BIPV/BAPV solar products, much easier rooftop installation, and an increasing desire to “go green” by owners of residences and commercial buildings.