PVC does not have the pressure rating that CPVC has. PVC is better suited for drain and waste pipes.
PVC can be used for supply, but it runs the risk of deterioration sooner. Why would one want to take the risk of water damage, when CPVC is as available and not much more expensive?
I’ve read somewhere PVC is OK for cold water lines. It is generally not allowed for distribution plumbing because it is hard to tell which lines are supposed to be hot and cold just by looking at them, so you do not know if they are plumbed corrrectly.
I don’t know how much truth there is to this, but it makes sense to me.
Schedule 80 pvc will work but may not be legal in your area depending on the plumbing code. When I worked under the UPC it was not legal to use in a distribution system.
Depending on where you live pvc can cause problems in cold weather. PVC expands and contracts a lot so any large temperature differentials may not be good.
It appears to me to be allowed by per IRC Table P2904.5. (ASTM D 2464; ASTM D 2466; ASTM D 2467; CSA B137.2) (Schedule 80, Schedule 40) I don’t see where there is any distinction between hot and cold water supply piping and the allowed use of PVC. Would like hear more on this.