Factors such as the increasing awareness regarding global warming and the growing greenhouse gas emissions are driving the overall market for CSP. Soaring cost of electricity generation may come up as a roadblock in the growth of the global concentrated solar power market. Segments Of the CSP market into dish stirling, linear freshnel, solar tower, and parabolic trough. Of these, parabolic trough is the most matured technology. The segment of tower and fresnel trailed parabolic trough, respectively. Of these, the tower technology is expanding at an exponential rate owing to the integration of technology with traditional thermal power plants, while the technology of dish sterling is employed for pilot projects and demonstration. Today, over 1,800 megawatts (MW) of CSP plants operate in the United States. Concentrated Solar Power market to be worth US$8.67 bn by 2020.
The generation of power through solar energy is still at its nascent stage due to the lack of advanced technology. The overall market has a huge opportunity to grow with the adoption of heat storage systems and hybridization of concentrated solar power plants with conventional thermal plants. The report further provides insightful information about the key players including their business strategies, product portfolio, and recent developments.
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Pros – Renewable energy, Carbon-free, Can serve as a drop-in replacement for conventional fuels to make steam, Operating costs are low, Can utilize thermal storage to better match supply with demand, High efficiency, Scalable to the 100MW+ level