A new market study, titled “Discover Global Building Applied Photovoltaics Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
Introduction
Global Building Applied Photovoltaics Market
Building applied photovoltaics refers to a photovoltaic technology that retrofitted on building structures generally during the construction stage. It is relatively less detrimental to the environment and enables the generation of energy at a lower cost, as compared to the conventional energy generation sources. The primary raw materials used in the production of building applied photovoltaics systems comprise amorphous silicom (a-Si), cadmium telluride (CdTe), and copper indium gallium selenide (CIGS). These materials are known to aid in the transformation of solar energy into electricity. Solar cells refer to intermediate products that are embedded in glass sheets used for the manufacture of BAPV panels.
BAPV products generally include facades and rooftops. Zero energy building policy, which is strictly practiced in the US and many European countries are known to achieve effectively by retrofitting BAPV products on old/new building structures. Feed-in-Tariff (FIT) rates are implemented in various regions, which is expected to fuel the global building applied photovoltaics market over the forecast period. Further, supportive introduction of government subsidis is also likely to attract a larger number of consumers, which in turn, is likely to provide traction to the growth of the building applied photovoltaics market.
Apart from this, the growing concern towards the reduction of carbon footprint and aiding a shift in electricity generation from the conventional sources of energy to renewable energy sources is also driving the global building applied photovoltaics market. Owing to high efficiency and lower costs, as compared to alternative renewable technologies, first-generation technologies such as C-Si technology are expected to experience major demand. However, impending government incentive schemes, an influx of financial incentives from various associations, and plummeting prices have led to an ascension of the global building applied photovoltaics market. All these factors are expected to set the global building applied photovoltaics market on an impressive growth trajectory.
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Key Players of Global Building Applied Photovoltaics Market =>
First Solar, Ascent Solar Technologies, Pythagoras Solar, Sapa Solar, Centrosolar AG, Power Film, Inc., Suntech Holding LLC, and United Solar Ovonic LLC
Market Segmentation
The building applied photovoltaics market is segmented by product type, application, material, and region. Based on product type, the global building applied photovoltaics market is segmented into rooftop and facades. Based on materials, the global building applied photovoltaics market is segmented into amorphous silicon, mono crystalline, poly crystalline, cadmium telluride adn copper indium gallium selenide solar cell. Based on type of application, the global building applied photovoltaics market is segmented into industrial, residential and commercial applications. New environmental norms and regulations regarding the use of renewable energy and subsidies over solar energy are estimated to propel the growth of the commercial segment.
Regional Analysis
The global building applied photovoltaics market is segmented into the regions of North America, Asia Pacific, the Middle East & Africa, Europe, and Latin America. Among these regions, North America is assessed to account for the highest share of the global building applied photovoltaics market. Europe on the other hand, Europe is expected to garner the second place in the market over the forecast period. Moreover, the Asia Pacific is expected to witness fastest growth rate over the forecast period owing to the enhanced financial support from solar power energy systems in India and China.
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