Global Concentrating Solar Power Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 – 2025

Published - Aug 2018 | Category - Energy and Power | No. of Pages - 115 | Published By - ARC

Introduction

The global concentrated solar power market size is anticipated to grow significantly owing to the electricity crisis coupled with diminishing non-conventional energy resources for electricity generation. Several prominent players operating in the global concentrated solar power (CSP) market are tapping into expanding avenues generated by the ever-rising demand for energy worldwide. Concentrated solar power is a technology that harnesses the sun’s energy potential and provides reliable renewable energy. It produces electricity on demand as well as provides dispatchable source of renewable energy. Concentrating solar power are widely used in residential, commercial, and industrial areas. Moreover, growing environmental concerns over carbon emissions. The demand for concentrated solar power technologies is driven by the rising worldwide thrust to increase the share of renewable energy such as the solar energy in a sustainable way.

Market Drivers

Concentrated efforts of various developing and developed nations to reduce their greenhouse emissions have led a substantial impetus to the growth of the market. The burgeoning demand for energy in various sectors, coupled with efforts to reduce the reliance on conventional energy sources in several countries, is a crucial factor propelling the market growth. The massive funding support by governments in emerging and developed economies to support the commercial generation of electrical energy using CSP technologies is providing a sustained fillip to the their adoption. However, the high cost of energy generation using concentrated solar power plants in some regions is a crucial factor that has restrained the growth of the market.


 

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