Concentrated Solar Power Market Size, Demand, Growth, COVID 19 Impact Analysis

New York, Concentrated solar power (CSP) technology uses mirrors or lenses to concentrate sunlight onto a small area to produce heat. This heat is then used to generate electricity in a steam turbine or engine. CSP systems can be used to power a single home or business, or they can be used on a much larger scale to power entire cities.

There are several different types of CSP technology, each with its own advantages and disadvantages. The most common type of CSP is parabolic trough technology, which uses long, curved mirrors to concentrate sunlight onto a central receiver tube. Parabolic trough systems are the most mature CSP technology, and they are currently the only type of CSP in commercial operation at utility-scale.

Key Trends
The main advantage of CSP over other solar power technologies is that it can be used to store energy, in the form of heat, which can then be used to generate electricity even when the sun is not shining. This makes CSP an attractive option for providing power at night or during periods of cloudy weather.

A number of different CSP technologies are currently in use or under development. The most common are parabolic troughs, solar towers, and parabolic dishes.

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Key Drivers
The key drivers of the CSP market are the same drivers that are driving the growth of the renewable energy market as a whole: the declining cost of renewable energy technology, the need to reduce greenhouse gas emissions, and the need to diversify the energy mix.

The declining cost of CSP technology is making it increasingly competitive with other forms of generation, such as natural gas. In some cases, CSP is already the cheapest option for new generation. The levelized cost of electricity from CSP is expected to continue to decline as technology improves and more projects are built.

Market Segments

By Technology:

  • Solar Power Tower
  • Linear Concentrating Systems
  • Stirling Dish technology

By Operation Type:

  • Stand-alone Systems
  • With Storage

By Capacity:

  • Less than 50 MW
  • 50 MW to 99 MW
  • 100 MW and above

By Ownership:

  • Captive
  • Independent Power Producer
  • Utility

Key Players

  • Abengoa Solar
  • BrightSource Energy
  • First Solar
  • SolarReserve
  • Schott Solar
  • Solar Millennium

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