A solar CPV system concentrates sunlight on solar cells with the help
of an optical device, increasing the efficiency of photovoltaic cells
that convert energy from sunlight directly into electricity. The optics
used concentrates the sunlight by a factor of 500 to 1,000 and focuses
it on the solar cells, which are reduced to a small fraction of the CPV
module. This helps in the cost-efficient use of highly efficient
multi-junction solar cells. Solar CPV requires a high level of radiation
concentration to increase its output and solar trackers help to monitor
the sun’s rays during the day so as to focus the sunlight falling over a
huge area onto a small set of PV cells. Solar CPV is gaining
competitiveness in areas with high direct normal irradiation (DNI). The
solar CPV installations are increasing in countries such as Spain, the
US, Australia, China, and India, which receive high solar radiation.
Solar CPV is a relatively immature technology compared to other PV
technologies and an increase in concentration and efficiency will lead
to its LCOE (Levelized Cost of Electricity) reduction. It is expected to
gain lower LCOE than PV technologies in the forecast period. Moreover,
lower land requirements for solar CPV provide an advantage compared to
PV. Analysts forecast the Global Solar Concentrated Photovoltaic market will grow at a CAGR of 34.1 percent over the period 2013-2018.
The
Report recognizes the following companies as the key players in Global
Solar Concentrated Photovoltaic Market: Abegoa Solar, Amonix Inc., Arima
EcoEnergy, Emcore Corp., Soitec SA , C Power SRL, Circadian Solar, Cool
Earth Solar, ES System, Everphoton Energy Corporation, Inc., Green and
Gold Energy Pty., Ltd., Guascor Foton, Heliotrop, JX Crystals, Opel
International Inc., Pacific Solar Tech Inc., Prism Solar Technologies,
Inc., Pyron Solar, Semprius, Silicon CPV Plc, Sol 3G, Solar System Pty,
Solar Tec International AG, Sunrgi, Suncore Photovoltaic Technology
Company Limited, Whitfield Solar, Zytech Solar.
The major focus of
solar CPV companies across the world is to increase the efficiency of
CPV systems, which will help to reduce the overall system costs. The
efficiency of CPV modules is around 30 percent, which is already higher
than solar PV and CSP technologies. However, there is still a huge scope
for improvement to further reduce the overall cost. With increased
efficiency and declining overall costs, solar CPV technology will
shortly achieve grid parity in many countries across the world.
The
Global Solar CPV market can be segmented into three divisions: High
Concentrated Photovoltaic, Medium Concentrated Photovoltaic and Low
Concentrated Photovoltaic. This division is based upon the degree of
concentration of CPV systems.
Global Solar Concentrated
Photovoltaic Market 2014-2018, has been prepared based on an in-depth
market analysis with inputs from industry experts. The report covers the
Americas, and the EMEA and APAC regions; it also covers the Global
Solar CPV market landscape and its growth prospects in the coming years.
The report also includes a discussion of the key vendors operating in
this market.
According to the report, one of the major drivers in
this market is the reduction in average installation prices of solar CPV
systems. With solar CPV manufacturing companies achieving economies of
scale and obtaining government support, the average prices of these
systems are declining. This has resulted in solar CPV systems becoming
affordable, leading to an increase in the number of installations across
the world.
Further, the report states that one of the major
challenges in this market is the lack of standardization of solar CPV
components. Without set standards, it is difficult for manufacturers to
reduce the production cost of solar CPV systems.
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