Global Concentrated Solar Thermal Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2025

Published - Aug 2018 | Category - Energy and Power | No. of Pages - 108 | Published By - ARC

Introduction

Concentrated solar thermal energy is generation of heat or electricity via mirrors to concentrate the sunrays to the temperature between 400 and 1,000C. This energy is then usually employed to heat a fluid, mainly water or oil, which in turn produces steam or hot air. The steam produced is used to drive a turbine connected to a generator to generate electricity. There are different types of mirror shapes and sun-tracking methods, all of them work under a same principle of driving a heat engine to generate electricity that can then be fed into the grid. The four major CSP technologies comprise of a parabolic trough, linear Fresnel reflector, solar tower and solar dish. The CSP technology has an ability to store energy so as to provide electricity as and when required and thus help reduce the development cost of new power plants. Concentrated solar thermal energy is a carbon-free source of electricity and is best suited to regions with strong irradiation such as Southern Europe, Northern Africa and Middle East, South Africa, parts of India, China, Southern U.S., and Australia.

Market Drivers

Increasing awareness among countries and their governments about the benefits of concentrated solar thermal energy has tremendously affected this industry. Government incentives for CSP industry encourage the growth of CSP market. Several countries including China, US, India introduced feed-in tariff, federal incentives, and tax benefits to promote CSP projects. Also, due to its high cost, most of the solar projects have switched from the CSP technology to PV technology resulting in a considerable decrease in the cost of PV panels and growing concerns about depletion of fossil fuel and strict government regulations regarding carbon footprint reduction will drive the CSP market.


 

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