Concentrated Solar Power Market will cross 24 GW by 2025
Published Date: March 2, 2017 Author: Global Market Insights, Inc.
Concentrated Solar Power Market size will exceed 24 GW by 2025, as reported in the latest study by Global Market Insights, Inc.
Growing adoption of clean energy fuel over conventional fuel will drive the global concentrated solar power market size over the forecast timeframe. Government measure towards carbon footprints and greenhouse gas emissions may further compliant the industry growth.
Rising electricity demand coupled with increasing investments to raise efficiency index will foster the concentrated solar power market share. In July 2016, U.S. federal government funded USD 9 million towards research and development of six CSP projects with an aim to reduce the overall project cost through technological advancements.
Declining component cost coupled with favorable government incentives including carbon credits, and renewable energy certificates will upsurge the global concentrated solar power market by 2025. Easy integration with grid makes it most cost-effective energy alternatives for large scale power generation.
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.
Parabolic troughs accounted for over 70% of the global concentrated 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.
Browse key industry insights spread across 117 pages with 149 market data tables & 11 figures & charts from the report, “Concentrated Solar Power Market Size, By Technology (Parabolic, Linear Fresnel, Power Tower, Dish), Industry Analysis Report, Regional Outlook (U.S., Spain, Italy, Australia, Morocco, China, India, South Africa, Chile, Saudi Arabia, the UAE), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2025” in detail along with the table of contents:
U.S. concentrated solar power market share will see growth, of over 8% by 2025. Federal government initiatives including tax rebate, financial assistance and net metering will complement the industry outlook.
Chile concentrated 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.
China concentrated solar power market is predicted to exceed 7 GW by 2025. The Government of China in its 13th five year plans aim to install 110GW solar power plants, of which 5GW will be accounted from CSP. Favorable initiatives including feed in tariff and tax benefits may further boost the business.
Key industry players include Siemens, TSK Flagsol, NextEra Energy Resources, eSolar, Solar Millennium, Areva, Acciona, Solar Reserve, BrightSource Energy, and Abengoa.
Concentrated solar power market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in MW and revenue in USD Million from 2014 to 2025, for the following segments:
Global Concentrated Solar Power, By Technology
- Linear Fresnel
- Power Tower
The above information is provided country basis for the following:
- South Africa
- Saudi Arabia