London, UK [RenewableEnergyWorld.com] The European Building Integrated Photovoltaics (BIPV) market is showing great investment and growth potential as it spreads through Europe, a recent Frost & Sullivan report shows.
According to the research, the European BIPV market in 2007 was estimated at €143 million [US $188.59] with a total installed capacity of 25.7 megawatts (MW) for the commercial, residential, industrial and public markets combined.
The largest market for BIPV in Europe is currently Germany, followed by France, Italy and Spain. The stronger BIPV markets in Europe are paving the way for European BIVP expansion, Frost says.
The firm added that countries such as Greece, Portugal and Switzerland are moving in the same direction. Although still in the preliminary stages, these markets are something for investors to keep their eyes on as they are emerging into potential BIPV hotspots.
“The common factor to all the best regions for investment in BIPV has been the level of legislative support…usually through feed-in tariffs, although easy availability of loans, solar PV ordinances and other such supportive legislations are also important to grow and sustain the market. Manufacturers have traditionally gravitated towards such regions,” said Akhil Sivanandan, Frost & Sullivan research analyst.