Research report Global Market Report for Concentrated Solar Power

| Editor: Susanne Hertenberger

The Concentrated Solar Power (CSP) industry is bound to be one of the biggest and most efficient in the coming times ahead.

The Concentrated Solar Power (CSP) industry is bound to be one of the biggest and most efficient in the coming times ahead.
The Concentrated Solar Power (CSP) industry is bound to be one of the biggest and most efficient in the coming times ahead.
(Pixabay)

If utilized to its full potential, it could end up providing for 25 per cent of the world’s energy needs by 2050. Currently, there is 679 MW of installed CSP capacity worldwide and more than 2,000 MW under development states Aruvian Research, an agency specializing in providing research and consulting solutions for a diverse multitude of industries from across the world.

Technology boon

The report further says that the solar field makes for the largest share of the cost of any solar plant. Depending on the technology this cost could vary from around 43 per cent for Tower and Fresnel technology, to almost 60 per cent for Parabolic Trough and Dish Stirling CSP plants. The most significant cost reduction is likely to come about by innovation in solar field design, which could bring down the cost of energy (LOCOE) by 15 to 28 per cent depending on the technology. Whilst much attention on the future of clean energy is focused on the competition from ‘cheaper’ fossil fuel alternatives, it should be noted that if a clean technology is actually the more profitable option, that becomes a massive driver for change. In a sense this is a positive feedback mechanism that comes into play as soon as a technology is competitive in even a few market segments.

Cost reduction

Rather than simply subsidizing CSP, technology-neutral market-based measures should target the clean energy characteristics and strong correlation of generation to real time demand that CSP provides. Rewards linked to competitive market time of day pricing or equivalent firm capacity contributions should be considered. Towards this, energy sector agencies should build on this study and model future prices of both energy and ancillary services in the NEM, to calculate future CSP value under scenarios that include high penetration intermittent renewable resources.

The CSP industry must continue to focus on lowering cost through deployment and technology improvement, particularly efficiency. Those cost reductions must also be clearly demonstrated to stakeholders. Major cost reductions will be achieved through capturing the lessons of early deployment. The CSP industry should work pro-actively to leverage the lessons gained from publically funded early deployment to ensure they flow to the widest possible base within the constraints of competitive markets.

Concentrating solar power’s relatively low cost and ability to deliver power during periods of peak demand—when and where it's needed—means that it can be a major contributor to the world’s future needs for distributed sources of energy.

About the report

Aruvian Research analyzes the Global Market for Concentrated Solar Power. This research report is a comprehensive analytical compilation which analyzes the global market for CSP along with an analysis of the key markets.

The report begins by taking a look at solar power and the impact of global climate change as well as the challenge of carbon emissions facing the world. It introduces the concept of concentrated solar power and also explains the various types of CSP technologies available today.

An analysis of the global market for CSP includes an industry analysis through statistics, a look at industry size, power generation from CSP worldwide as well as the installed capacity of CSP in key markets. Investments in the industry are also looked at, followed by an analysis of the major industry trends and challenges.

Download the full report on ReportLinker.

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