Press release
Concentrating Solar Power Market By 2025 Detail Analysis of all Top Industry Players: NextEra Energy Resources, BrightSource Energy, Solar Millennium, Siemens, Abengoa, Areva, eSolar, Acciona, Solar Reserve, TSK Flagsol
Concentrated Solar Power Market
Decreasing component cost along with favorable government initiative including REC and carbon credits will propel the concentrating solar power market. Easy grid integration makes this system favorable over other alternatives. As per U.S. Department of Energy’s SunShot initiative, estimated LCOE of CSP plants fell from USD 210/MWh to USD 120/MWh from 2010 to 2015.
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Ability to store solar energy as heat, CSP can deliver low emission power, even after the sun sets. Reliably and flexibly of power supply help to mitigate the supply and demand mismatch. However, high capital cost compared to other available sustainable energy may act as restraint over the forecast timeline.
Power tower accounted for over 10% of the global concentrating solar power market share in 2015. Effective capacity factor, improved heat storage and low cost are some of the features which will favor the business landscape. Crescent Dunes solar power tower facility in U.S. has the storage of 10 hours and it provide energy to 75,000 homes.
Spain concentrating solar power market is set to expand owing to its high direct normal irradiance rate and favorable climatic condition fir solar plants. Rising concern to replace conventional power generation technology with clean energy will further boost the industry outlook.
Parabolic troughs accounted for over 70% of the global concentrating solar power market in 2015. Low cost with matured technology are some of the advantages over other available thermal systems will may positively impact the business growth. Global concentrated solar power market size from power tower for 2015 was valued over USD 2.8 billion. Improved heat storage, high efficiency, low cost, and effective capacity factor may favor the business landscape.
Concentrating Solar Power Market size was over USD 30 billion in 2015 and will surpass USD 120 billion by 2025.
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U.S. concentrating solar power market is set to expand significantly over the forecast timeline. Federal and state government initiatives including financial assistance, net metering and tax rebate will complement the industry outlook. The U.S. DOE introduced SunShot Initiative in 2011 which encourage and support adoption of solar energy by making it affordable through research and development in collaboration with private and public partners. Global concentrating solar power market from parabolic trough for 2015 was valued over USD 27 billion. Low cost and high efficiency with matured technology makes this technology favorable over other alternatives.
Chile concentrating solar power market revenue is set to witness strong growth of over 25% over the forecast timeframe. Favorable climatic conditions with strong pipeline projects will boost the business. Morocco is set to exceed USD 5 billion by 2025. Noor solar plan targets of 2 GW of solar capacity addition by 2020 will positively favor the industry growth.
Spain concentrated solar power market size for 2015 was valued over USD 15 billion. Government emphasis to replace conventional fossil fuel technology with efficient clean energy technology will augment the industry landscape.
Key industry players in concentrating solar power market include Siemens, TSK Flagsol, NextEra Energy Resources, eSolar, Solar Millennium, Areva, Acciona, Solar Reserve, BrightSource Energy, and Abengoa.
Browse key industry insights spread across 117 pages with 149 market data tables & 11 figures & charts from the report, concentrating solar power market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/concentrated-solar-power-market
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