Concentrated solar power Market Technology:
There are several different types of CSP technology, including:
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Parabolic Trough Systems: These systems use parabolic mirrors to concentrate sunlight onto a tube filled with a fluid that is heated to generate steam, which powers a turbine to generate electricity.
Power Tower Systems: These systems use a large field of mirrors, called heliostats, to reflect sunlight onto a central tower. A heat transfer fluid is heated in the tower and used to generate steam to power a turbine.
Dish/Stirling Systems: These systems use a parabolic dish to concentrate sunlight onto a receiver at the focal point, which heats a fluid that is used to power a Stirling engine. The engine drives a generator to produce electricity.
Fresnel Systems: These systems use flat mirrors arranged in a way that allows them to focus sunlight onto a receiver. The receiver heats a fluid that is used to generate steam to power a turbine.
The Concentrating Solar Power Market is broadly segmented into [parts of Asia-Pacific like South Korea, China and India. The market demand also exceeds in parts of North America and Europe. Parts of Russia, Spain, Italy and the UK are also dominated.
- In Dec 2019: One of the California-based Concentrating Solar Power Market firms developed an electronic coating with solar-cured materials that provided improved efficiency to the outputs when seen in CSP. The coating was also helpful while reducing the O and M costs.
Some vital key players in the industries were Solar Reserve (US), ACWA Power (Saudi Arabia), Aalborg CSP (Denmark), and BrightSource Energy (US). They have been actively functioning in the market dynamics to enhance the growth and development of the same.
Concentrating Solar Power Market Overview
Concentrating Solar Power Market is expected to be valued at USD 16.41 Billion, with a CAGR of 17.1% Forecast by 2030.
The rising adoption of renewable sources of energy has driven a large number of consumers into utilizing solar power. The increased pollution levels across certain regions of the world have driven their governments into imposing the stringiest rules for the usage of solar power. The involvement of advanced technology like parabolic troughs and Fresnel reflectors has contributed positively towards driving the Concentrating Solar Power Market.
The Concentrating Solar Power Market is segmented into technology, components and end-use.
By technology, the market was segmented into power towers, parabolic troughs and engine systems. By components, the market is again segmented into power block, thermal storage and solar field. The divisions of the market are also utilities and enhanced oil recovery depending on its end-use.