Concentrated Solar Power (CSP) is a technology that helps gather energy using. The technology was designed to develop alternate technologies to meet the rising energy demand across the globe. Various nations are collaborating to enhance the technology in order to reduce the dependency on non-renewable fuels. The success of this technology is dependent on meeting the energy targets outlined by the respective countries. The four major technologies categorized under CSP are parabolic troughs, power tower, linear Fresnel, and dish.
Encouraging the Development of Energy-Resourceful Technologies
Parabolic technology accounted for the largest market share in 2016 due to its use in major solar power plants by various countries. A popular instance includes the Nevada Solar One plant that powers up nearly 14,000 homes annually. Thermal oil is normally used as a Heat Transfer Fluid (HTF) in order to absorb sunlight at a rapid rate. But the use of molten salts as an HTF has led to successful results in two CSP plants in Sicily.
This has led to the commissioning of additional 50 megawatt (MW) plants by Archimede Solar Energy. The adoption of molten salts is essential in keeping operating expenses at a minimum and meeting safety standards regarding flashpoint and flammability. Power tower technology is expected to exceed a valuation of USD 955 million by 2025 on account of better efficiency and performance ratings.
The technology is expected to reach an extended energy capacity on account of using heliostat mirrors for energy conversion. It can be used for large solar energy generation plants. China, one of the biggest user of this technology, is expected to build additional solar power generation plants by 2020. Dubai is also planning to build a 200 MW solar power tower by 2020 that would have a capacity of 1000 MW.
Market Outlook
The global concentrated solar power market is anticipated to attain USD 8.92 billion by 2025, according to a report by Grand View Research, Inc. The market is driven by the adoption of clean energy policies by various economies to reduce carbon emissions. Supportive government regulations along with consumer awareness regarding green energy policies are expected to drive market growth.
Financial incentive schemes by governments are also expected to attract a larger consumer base over the forecast period (from 2018 to 2025). Prominent market players include Abengoa S.A.; Areva NC, Inc.; Siemens AG; and Brightsource Energy, Inc.
In-Depth Research Report On Concentrated Solar Power Market:
https://www.grandviewresearch.com/industry-analysis/concentrated-solar-power-csp-market
No comments:
Post a Comment