Title: Global Concentrated Solar Power Market to reach 24 GW by 2025
1Global Concentrated Solar Power Market share to
reach 24 GW by 2025 Global Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
2Key Insights from Concentrated Solar Power Market
- Growing adoption of clean energy fuel over
conventional fuel will drive the global
concentrated solar power market size over the
forecast timeframe. Government measure towards
carbon footprints and greenhouse gas emissions
may further compliant the industry growth. - Rising electricity demand coupled with increasing
investments to raise efficiency index will foster
the concentrated solar power market share. In
July 2016, U.S. federal government funded USD 9
million towards research and development of six
CSP projects with an aim to reduce the overall
project cost through technological advancements. - Declining component cost coupled with favorable
government incentives including carbon credits,
and renewable energy certificates will upsurge
the global concentrated solar power market by
2025. Easy integration with grid makes it most
cost-effective energy alternatives for large
scale power generation.
3Continued...
- Ability to store solar energy as heat, CSP can
deliver low emission power, even after the sun
sets. Reliably and flexibly of power supply help
to mitigate the supply and demand mismatch.
However, high capital cost compared to other
available sustainable energy may act as restraint
over the forecast timeline. - Parabolic troughs accounted for over 70 of the
global concentrated solar power market in 2015.
Low cost with matured technology are some of the
advantages over other available thermal systems
will may positively impact the business growth. - Global concentrated solar power market size from
power tower for 2015 was valued over USD 2.8
billion. Improved heat storage, high efficiency,
low cost, and effective capacity factor may favor
the business landscape. - U.S. concentrated solar power market share will
see growth, of over 8 by 2025. Federal
government initiatives including tax rebate,
financial assistance and net metering will
complement the industry outlook.
4Global Concentrated Solar Power (CSP) Market
installed capacity, by technology 2016 2025 (GW)
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6Continued...
- Chile concentrated solar power market revenue is
set to witness strong growth of over 25 over the
forecast timeframe. Favorable climatic conditions
with strong pipeline projects will boost the
business. Morocco is set to exceed USD 5 billion
by 2025. Noor solar plan targets of 2 GW of solar
capacity addition by 2020 will positively favor
the industry growth. - Spain concentrated solar power market size for
2015 was valued over USD 15 billion. Government
emphasis to replace conventional fossil fuel
technology with efficient clean energy technology
will augment the industry landscape. - China concentrated solar power market is
predicted to exceed 7 GW by 2025. The Government
of China in its 13th five year plans aim to
install 110GW solar power plants, of which 5GW
will be accounted from CSP. Favorable initiatives
including feed in tariff and tax benefits may
further boost the business. - Key industry players include Siemens, TSK
Flagsol, NextEra Energy Resources, eSolar, Solar
Millennium, Areva, Acciona, Solar Reserve,
BrightSource Energy, and Abengoa.
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