Concentrating Solar Power Market Scope
Concentrating solar power which is also known as concentrating solar power, concentrated solar thermal as well as CSP. These systems generate solar power by using lenses, mirrors which are placed in a concentrates larger area of sunlight. Then the solar energy gained through mirrors and lenses consume solar energy and then the solar energy is converted into the thermal energy which is later converted to electrical energy. Due to increasing awareness about the renewable energy sources the global concentrating solar power market will show a favorable growth in the forecasting years.
The market study is being classified, by Application (Residential, Commercial and Industrial) and major geographies with country level break-up. According to AMA, the Global Concentrating Solar Power market is expected to see growth rate of 20.6%
Research Analyst at AMA predicts that European and United States Manufacturers will contribute to the maximum growth of Global Concentrating Solar Power market throughout the predicted period.
Abengoa Solar (Spain), Aalborg CSP (Denmark), ACWA Power (Saudi Arabia), Bright Source Energy (United States), Esolar Inc. (United States), NextEra Energy Resources LLC (United States), Ibereolica Group (Spain), Engie (France), TSK Flagsol (Germany) and SCHOTT Solar AG (Germany) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Solar Millennium AG (Germany), SolarReserve LLC (United States), Acciona, S.A. (Spain), SkyFuel Inc. (United States) and Areva Solar (United States).
AdvanceMarketAnalytics has segmented the market of Global Concentrating Solar Power market by Type, Application and Region.
On the basis of geography, the market of Concentrating Solar Power has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2018. North America on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
On 4 April 2018, Aalborg CSP has minimized the price gap between fossil fuels as well as solar heat in order to meet the increasing demand for cheaper and cleaner energy solutions. Moreover, The Company has optimized its concentrated solar power technology (CSP), which has resulted in significant cost reduction.
Since January 2011, The National Tariff Policy (NTP) of India 2006 requires the State Electricity Regulatory Commissions (SERCs) to fix a minimum percentage of Renewable Purchase Obligation (RPO) from such sources taking into account availability of such resources in the region and its impact on retail tariffs and procurement by distribution companies at preferential tariffs determined by the SERCs. NTP has further elaborated on the role of regulatory commission; mechanism for promoting renewable energy and
- Declining Cost Curves for Renewable Energy Deployments
- Increasing Automation in Solar Energy Infrastructures
- Up surging Demand for Renewable Energy Sources such as Solar Energy and Wind Energy
- Increasing Generation of Electrical Energy from Solar Energy
- Growing Government Assistance for Concentrated Solar Energy Projects
- Increasing Adoption of Concentrated Solar Energy in Numerous Applications
- High Cost of Solar Energy Conversion Panels
- Working Efficiency Differs by Weather Conditions
- Expensive and Complex Solar Energy Storage
- Inclusion of Toxic and Hazardous Materials in Manufacturing Solar Photovoltaics
Key Target Audience
Thermal Energy Storage Manufacturers, CSP Component Manufacturers, Concentrating Solar Power Solution Providers, Solar and Wind Energy Associations, Industry associations and experts, Research Organizations and Consulting Companies and Others
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