Concentrated Solar Power (CSP) technologies to grow rapidly — 44.9% CAGR to 2016. 2016 installed solar energy capacity: 8.6 GW (CSP) and 219 GW (solar photovoltaic).
Compared with other renewable energy sources, solar power is proving one of the most viable alternatives to fossil fuel use. Sunlight is an inexhaustible source of energy, and the equipment used to harness the sun’s power can be less intrusive and easier to deploy than other types of renewable energy.
The solar energy technologies addressed within this research piece are: concentrated PV, concentrated solar power / solar thermal, solar PV and solar thermal.
The European solar power market is by far the largest, boosted by Germany’s 44% share of the world PV market. Asia Pacific and North America follow, and there is increasing interest in emerging regions which enjoy regular high intensity sunlight.
One explanation behind the substantial growth noted in the solar PV market is the drop in prices associated with the technology.
In the last five years concentrated solar power saw an 8% growth, but is forecast to increase by almost 45% p/a throughout the reporting period. Spain and the US are due to install large scale CSP systems in the near future, while strong CSP market gains are also expected in the Brazilian, Canadian, Chinese, French and German markets.
The comprehensive 465 page report was published in August 2011 to provide the reader with a detailed insight into the lucrative solar power market. The report investigates the competitive landscape, referencing historical and forecast market data for the period 2009-2016. Analysis of solar power technologies, products, innovations, M&A, collaborations, and other influencing factors is included, along with profiles of thirty key players in the global solar energy market.