Concentrated Solar Power Market Showing Impressive Growth Due to increasingly competitive with other forms of generation - Abengoa Solar (Spain), BrightSource Energy (US), First Solar (US), SolarReserve (US)

New York, Global Concentrated Solar Power Market report from Global Insight Services is the single authoritative source of intelligence on Concentrated Solar Power Market . The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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Concentrated solar power (CSP) technology uses mirrors or lenses to concentrate sunlight onto a small area to produce heat. This heat is then used to generate electricity in a steam turbine or engine. CSP systems can be used to power a single home or business, or they can be used on a much larger scale to power entire cities.

There are several different types of CSP technology, each with its own advantages and disadvantages. The most common type of CSP is parabolic trough technology, which uses long, curved mirrors to concentrate sunlight onto a central receiver tube. Parabolic trough systems are the most mature CSP technology, and they are currently the only type of CSP in commercial operation at utility-scale. Other types of CSP include central tower systems, which use a central tower with mirrors or lenses to concentrate sunlight onto a receiver at the top of the tower, and Fresnel lens systems, which use a series of flat mirrors or lenses to concentrate sunlight onto a central receiver.

CSP technology has a number of advantages over other renewable energy technologies. CSP plants can be designed to store heat energy, which can then be used to generate electricity even when the sun is not shining. This makes CSP an ideal technology for providing baseload power. CSP plants can also be designed to provide dispatchable power, which means they can be turned on and off as needed to meet changing electricity demand.

CSP technology also has a number of disadvantages. CSP plants require a large amount of land, and they can have significant environmental impacts. In addition, CSP technology is still relatively new and expensive, and it is not yet widely deployed.

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COVID-19 Impact

The COVID-19 pandemic has impacted the concentrated solar power market in a number of ways. Firstly, the outbreak of the pandemic has led to a decrease in global demand for electricity, as businesses and factories have been forced to close and people have been asked to stay at home. This has led to a decrease in the demand for solar power, as solar power plants require a high level of electricity demand to operate effectively. Secondly, the pandemic has led to a decrease in the availability of finance for solar power projects, as investors are hesitant to invest in new projects during such uncertain times. Thirdly, the pandemic has caused delays in the construction of new solar power plants, as supply chains have been disrupted and workers have been unable to travel to site. Finally, the COVID-19 pandemic has resulted in a decrease in the demand for solar panels, as manufacturers have been forced to close their factories.

Market Segments

The Concentrated Solar Power Market has been segmented into Technology, Capacity, and Region. Based on the Technology, the Concentrated Solar Power Market is bifurcated into Solar Power Tower, Linear Concentrating Systems, and Stirling Dish Technology. Based on Capacity, the market is segmented into Less than 50 MW, 50 MW to 99 MW, and 100 MW and Above. Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and the Rest of the World.

Key Players

Some major key players of Concentrated Solar Power Market are Abengoa Solar (Spain), BrightSource Energy (US), First Solar (US), SolarReserve (US), Schott Solar (Germany), ACS Cobra (Spain), Acciona (Spain), Areva Solar (US), SunPower (US), and Q-Cells (South Korea).

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Key Trends

The main advantage of CSP over other solar power technologies is that it can be used to store energy, in the form of heat, which can then be used to generate electricity even when the sun is not shining. This makes CSP an attractive option for providing power at night or during periods of cloudy weather.

A number of different CSP technologies are currently in use or under development. The most common are parabolic troughs, solar towers, and parabolic dishes.

Parabolic troughs are the most mature CSP technology, with commercial plants in operation for over 20 years. They consist of long, curved mirrors that focus sunlight onto a receiver tube, which contains a fluid that is heated to a high temperature. The hot fluid is then used to generate steam, which drives a turbine to produce electricity.

Solar towers use a large number of mirrors (heliostats) to focus sunlight onto a receiver at the top of a tower. The receiver contains a fluid that is heated to a high temperature, which is then used to generate electricity.

Parabolic dishes are similar to solar towers, but instead of using a tower, they use a large parabolic dish to focus sunlight onto a receiver. The receiver contains a Stirling engine, which converts the heat from the fluid into electricity.

The main trends in CSP technology are towards larger plants with higher capacities, and towards the use of storage to provide power at night or during periods of cloudy weather.

Key Drivers

The key drivers of the CSP market are the same drivers that are driving the growth of the renewable energy market as a whole: the declining cost of renewable energy technology, the need to reduce greenhouse gas emissions, and the need to diversify the energy mix.

The declining cost of CSP technology is making it increasingly competitive with other forms of generation, such as natural gas. In some cases, CSP is already the cheapest option for new generation. The levelized cost of electricity from CSP is expected to continue to decline as technology improves and more projects are built.

The need to reduce greenhouse gas emissions is driving the growth of the CSP market as countries look to meet their climate goals. CSP is a low-carbon technology, and can help countries transition away from fossil fuels.

The need to diversify the energy mix is also driving the CSP market as countries look to reduce their reliance on any one particular fuel. CSP can provide power when the sun is shining, even when the wind isn’t blowing, making it a complementary technology to other renewable energy sources.

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