A recent forecast has estimated the concentrated solar thermal power industry is set to go from strength to strength with estimated $8.6 billion revenue by 2020.
This is no surprise as in recent weeks the industry has been boasting positive news about the industry. This week Abengoa a leading developer involved in a number of major concentrating solar power (CSP) projects in the US, including the 280 MW Solana in Arizona and Mojave Solar in California reported a profit rise for the first quarter with the Americas accounting for almost half of the company’s revenues in the period.
In addition The Renewable Energy Division of 3M and Gossamer Space Frames have revealed a competitive CSP solution that will play a key role in significantly reducing the cost of a solar technology. With costs at the heart of the CSP battle the announcement signifies that companies are taking vital steps to reduce equipment and installation costs for CSP systems used in power generation.
There is a lot at stake for CSP companies in the next 12 months with anticipated industry revenue set to rise from $2.1 billion this year to $5.1 billion in 2013, with the US and Spain leading the installed capacity. The companies expected to make the biggest wins and see profit rise will be those that have managed to plan ahead for the industry’s boom, and Abengoa and 3M are just a few examples of how the industry will evolve.
Heidi Hafes, Senior Research & Event Director of CSP Today USA 2012 on June 27-28 in Las Vegas, said ‘CSP companies have a decision to make, how they are going to position their business in 2012 in this highly competitive market to profit from the industry’s expansion? Otherwise they will see millions and even billion dollar opportunities pass them by. With this in mind CSP Today USA 2012 is focused on helping businesses with guidance and expert opinion so they can align their business strategy with the industry’s.’