DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Concentrated Solar Power Market Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023" report to their offering.
Concentrating solar power technologies utilizes several mirror configurations to focus the sunlight on a receiver to transform it in heat energy. The heat generated can be utilized to generate steam to make a turbine rotate to generate electricity. CSP systems can be utilized by means of combined cycle power plants. This results in hybrid power plants. Growing environmental issues on carbon emissions and focus on reduction of air pollution, rising awareness of global warming, and rising government support are the factors which are contributing to the growth of the concentrated solar power market.
Geographically, the Global concentrated solar power market is segmented into North America, Europe, APAC and ROW. Europe is anticipated to lead the market. Rise in usage, increasing number of installation, and new projects are contributing to the growth of CSP market in Europe region. Concentrated solar power market companies are undertaking mergers and acquisition and innovation in technology, which are growing the market share of the key players. Bright Source Inc. has adopted various strategies to withstand the competition in the market such as, they have launched a new solar field technology recently. Thus, giving its contribution to the robust growth of the concentrated solar power market.
Moreover, there are some factors which are hindering the growth of concentrated solar power market such as high generation cost in comparison to other renewable sources. According to International Renewable Energy Agency (IREA), Levelised cost of electricity (LCOE) from concentrating solar power plants is presently high. Supposing the cost of capital (COC) is 10%, LCOE of parabolic trough plants lies in the range of $ 0.20 to $ 0.36/kWh and on the other hand solar towers range between USD 0.17 and USD 0.29/kWh. The LCOE depends mainly on the local solar resources and cost of capital.
- Rising Government Support in Adoption of Renewable Technologies
- Increasing Energy Demand And Capability to Supply Dispatch Able Power
- Increasing Environmental Issues On Carbon Emissions And Focus to Decrease Air Pollution
- Rising Awareness of Global Warming.
- High Generation Cost in Comparison to Other Sustainable Sources
- Rising Investment from Mining Industries in Renewable Sources
- Growing Adoption of Heat Storage Systems
- Hybridization of Csp Coupled With Conventional Thermal Plants.
- Water And Land Requirement
- Lack of Cutting-Edge Technology
- Aalborg Csp A/S
- Abengoa Solar, S.A.
- Acwa Power
- Archimedes Solar Energy
- Baysolar Csp
- Brightsource Energy, Inc.
- Cobra Energia
- Esolar, Inc.
- Frenell Gmbh
- Siemens Ag
- Solar Reserve, Llc
For more information about this report visit http://www.researchandmarkets.com/research/9pvxtr/global