Building-integrated Photovoltaics Market Size

Building-integrated Photovoltaics Market size was over USD 28.46 billion in 2024 and is projected to exceed USD 296.29 billion by the end of 2037, growing at over 19.5% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of building-integrated photovoltaics is evaluated at USD 32.95 billion. The market expansion is attributed to the staggering development of global government initiatives and investments to meet the huge demand for renewable energy sources. Governments from across the world are providing financial subsidies, tax credits, or rebates to reduce the upfront costs of installing BIPV systems. These incentives make BIPV more financially viable for building owners and developers.

Additionally, governments allocate funds for research and development in solar photovoltaic (PV) technology. This investment supports innovation, efficiency improvements, and cost reductions in integrated PV systems. The World Energy Investment 2023 report by the International Energy Agency (IEA) stated that USD 2.8 trillion was invested in energy. More than USD 1.7 trillion was allocated to clean energy, which includes renewable power, nuclear, grids, storage, low-emission fuels, efficiency improvements, end-use renewables, and electrification.