Press release
Whats Driving the Concentrated Solar Power Market Growth? Acciona Energy, GE Renewable Energy, Enel Green Power, Suntrace, CSP Services, Atlantica Yield PLC, Shams Power, SolarReserve LLC, ACWA Power, Chiyoda Corporation
Concentrated Solar Power Market
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Escalating electricity demand coupled with rising investments toward improvement of efficiency index will significantly influence the CSP market growth. For instance, according to the Australian Energy Council, the global electricity demand by 2030, will witness a growth of over 30% when compared to 2017 level. In addition, increasing demand for decentralized electricity production across remote locations will enhance the industry outlook.
Key Players Of Concentrated Solar Power Market:
o Abengoa Solar
o S.A
o Acciona Energy
o GE Renewable Energy
o TSK Flagsol Engineering GmbH
o Enel Green Power
o Suntrace
o BrightSource Energy Inc
o CSP Services
o Atlantica Yield PLC
o Shams Power
o SolarReserve LLC
o ACWA Power
o Therminol
o Chiyoda Corporation
Reduction in Levelized Cost of Electricity (LCOE) primarily driven by reverse auction of projects along with reduced operations and maintenance costs will stimulate the CSP market. For instance, as per the International Renewable Energy Agency, by 2020, the LCOE of concentrated solar power projects are predicted to fall under the range of USD 0.06 - 0.10 per kWh. Nevertheless, high capital cost when compared to solar photovoltaic project with comparable capacity may hinder the industry growth in coming years.
Favorable government initiatives coupled with rising adoption of energy efficient systems will drive the power tower concentrated solar power market share. The technology is set to gain prominence on account of its ability to offer less energy transfer steps, lower thermal loss and high working temperature when compared to other alternatives. Moreover, rising focus toward thermal energy storage system along with its enhanced suitability with power tower systems will augment the technology deployment.
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Middle East and Africa CSP market will witness robust growth on account of increasing investments to meet the needs of the stagnation across the North America and Spain solar industry. Rising focus of the eminent industry players toward the development of new associations with the regional players with an aim to expand the market penetration will significantly contribute toward industry growth. Countries comprising South Africa, China, Saudi Arabia, Morocco and the UAE will promote the requirement of local content across the regional concentrated solar power programs.
>100 MW concentrated solar market is set to witness robust growth on account of growing demand for electricity along with relatively lower specific cost distinguished by economies of scale. According to the International Renewable Energy Agency, the cost of a 100 MW concentrated solar power project is approximately 12% lower than a 50 MW project deploying the same technology. Furthermore, larger reflecting area associated with the large project provide higher operating temperatures resulting in an improved overall efficiency of the plant.
Table of content:
Chapter 4 Concentrated Solar Power Market, By Technology
4.1 Concentrated solar power market share by technology, 2018 & 2025
4.2 Parabolic trough
4.2.1 Global CSP market from parabolic trough, 2014 - 2025
4.2.2 Global CSP market from parabolic trough, by region, 2014 - 2025
4.3 Linear fresnel reflector
4.3.1 Global CSP market from linear fresnel reflector, 2014 - 2025
4.3.2 Global CSP market from linear fresnel reflector, by region, 2014 - 2025
4.4 Power tower
4.4.1 Global CSP market from power tower, 2014 - 2025
4.4.2 Global CSP market from power tower, by region, 2014 - 2025
Chapter 5 Concentrated Solar Power Market, By Capacity
5.1 Concentrated solar power market share by capacity, 2018 & 2025
5.2 100 MW, by region, 2014 - 2025
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