In the increasing trend to generate electrical power from renewable sources, solar PV cells were one of the first technologies considered for the conversion of solar energy to usable electrical energy. PV technology initially had to contend with issues such as low conversion efficiency and high initial investment. However, power output has significantly improved through the development of new technologies involving mirrors/reflectors that focus sunlight falling over a huge area onto a small set of PV cells.
CPVs are also often equipped with trackers following the sun’s position so that sun rays directly hit the panel of reflectors and are then redirected to the PV cell arrays. As CPV reflectors require huge open areas, the technology often has to contend with the issue of water shortage for cooling CPV cells. Air or the hybrid wet-dry cooling technology enables the use of CPV cells in deserts and isolated places. The CPV cells market is set for high growth with government initiatives in place for renewable power. The market also holds promise for new entrants as it currently has only a few players.
Scope of the report
The report covers all the major types of concentrated PV (CPV) cells – i.e., of low, medium, and high concentration. The report also includes an in-depth analysis of solar PV submarkets, such as those for crystalline, thin film, and other PV cells. The report estimates and analyzes the markets for different cooling techniques, such as air and water cooling, which are extremely vital for the functioning of CPVs. Issues like grid-parity have been also been explained and discussed in-depth.
The report includes an analysis of the global solar power market and the total energy scenario. The report identifies factors that drive or inhibit market growth, in order to support the market trends and forecasts made herein for each sub-segment. More than 45 company profiles are provided for a deeper insight into the competitive landscape. The market tables are categorized as per geographies, products, and applications. An in-depth geographic analysis is conducted for each of the sub-segment in the major regional markets of Americas, Europe, Asia, and ROW.
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Table of Contents
Executive summary Global Concentrated Photovoltaic market Global Solar Photovoltaic Market Global Solar Tracking solutions Market Geographical Analysis
3. Market overview 3.1. Global Power Market 3.1.1. Global electrical power requirement 3.1.2. Share analysis of different sources of electrical power 3.1.3. Growth in demand of renewable power till 2030 3.1.4. Renewable power Vs Conventional power 3.1.5. Market overview for CPV 3.2. Evolution of concentrated photovoltaic 3.3. Market forces ANALYSIS 3.3.1. increasing efficiency & government incentives 3.3.2. geographical limitations 3.3.3. grid parity to offer market opportunity 3.3.4. innovation holds key to market success 3.3.5. Market definition 3.4. High Direct Normal Irradiance – key to CPV success 3.5. CPV component cost breakup 3.6. CPV: Cost Comparison with Other Energy Sources 3.6.1. Drivers 3.7. Environmental concerns 3.8. Low system cost 3.8.1. High efficiency of the CPV systems 3.8.2. Effective usage of land area 3.8.3. Easily scalable 3.8.4. Government initiatives 3.9. Restraints 3.9.1. Grid Parity 3.9.2. Limited locations with high direct normal irradiation 3.9.3. Acceptance of technology 3.10. Opportunities 3.10.1. Vast project pipeline
4. Concentrated Photovoltaic Market 4.1. High concentration photovoltaic 4.1.1. Drivers 4.1.1.1. Lower cost of energy output 4.1.1.2. Increasing Efficiency to Reduce Cost 4.1.1.3. Faster achievement of grid parity 4.1.2. Restraints 4.1.2.1. System complexity and risks 4.2. Medium concentration cpv 4.2.1. Drivers & Restraints 4.2.1.1. High modularity, scalability and increased energy output 4.2.1.2. Less requirement of optical material 4.2.1.3. Requires precise tracking and cooling 4.3. Low concentration cpv 4.3.1. Drivers & Restraints 4.3.1.1. Used in wider climatic conditions 4.3.1.2. Varied applications 4.3.1.3. Low tracking and cooling requirements 4.3.1.4. Lower efficiency 4.4. Types of CPV technology 4.4.1. Lens refractor CPV Technology 4.4.1.1. Drivers & restraints 4.4.1.1.1. Requires less material & gives high energy efficiency 4.4.1.1.2. Reduction in lens efficiency over time 4.4.2. Mirror reflector CPV Technology 4.5. CPV Technologies based on concentrator arrangement 4.6. CPV applications 4.6.1. Space applications 4.6.2. Telecommunications 4.6.3. Grid connected residential power supply 4.6.4. Water Pumping 4.6.5. Rooftop applications 4.7. Grid Parity 4.7.1. Challenges for grid parity - Increasing cost of silicon and lack of investment 4.7.1.1. Possible means of achieving grid parity 4.7.1.1.1. Increasing efficiency & mass production 4.7.1.1.2. Improvement in the basic subsystem design 4.7.1.1.3. Subsidising solar power
5. Solar Photovoltaic Market 5.1. Market Overview 5.2. Asia dominating the supply side market for solar photovoltaic cell 5.2.1. Market Definition 5.2.1.1. Drivers 5.2.1.1.1. Environmental concerns & emission regulations 5.2.1.1.2. Reduction in cost differential 5.2.1.1.3. High price of grid electricity 5.2.1.1.4. Progress in materials and processing technology 5.2.1.1.5. Small-scale applications 5.2.1.1.6. Huge potential in the EU 5.2.1.1.7. Rural electrification programs 5.2.1.2. Restraints & Opportunities 5.2.1.2.1. Slow and long certification process 5.2.1.2.2. Low efficiency 5.2.1.2.3. Government incentives for solar energy 5.2.2. CRYSTALLINE SILICON PV CELLS 5.2.3. Monocrystalline Silicon PV Cells 5.2.3.1. Drivers & Restraints 5.2.3.2. Longevity & reliability of mono crystalline PV cells 5.2.3.3. Complex and costly manufacturing process 5.2.4. Multi-crystalline Silicon PV Cells 5.2.4.1. Drivers & Restraints 5.2.4.1.1. Low cost of PV cells 5.2.5. Thin Film PV cells 5.2.5.1. Drivers 5.2.5.1.1. Low cost mass production 5.2.5.1.2. Harvests infrared light spectrum 5.2.5.2. Restraints 5.2.5.2.1. Low efficiency of silicon based thin film cells 5.2.5.2.2. Toxicity and humidity issues with CdTe and CIS 5.2.5.3. Opportunity 5.2.5.3.1. Development of new, improved light absorbing material 5.2.5.4. Amorphous silicon (a-Si) thin film PV cells 5.2.5.4.1. Drivers 5.2.5.4.1.1. Variety of a-Si solar cells drives the market 5.2.5.4.1.2. High sensitivity 5.2.5.4.1.3. Low cost of a-Si thin film PV cell 5.2.5.4.2. Restraints 5.2.5.4.2.1. Anomalous electrical behavior 5.2.5.5. Cadmium Telluride (CdTe) thin film PV cells 5.2.5.5.1. Drivers 5.2.5.5.1.1. Superior light absorption ability 5.2.5.5.1.2. Better performance under high temperature 5.2.5.5.1.3. Fastest energy payback time 5.2.5.5.2. Restraints 5.2.5.6. Copper Indium (Gallium) Diselenide (CIS or CIGS) 5.2.5.6.1. Drivers 5.2.5.6.1.1. High conversion efficiency 5.2.5.6.1.2. Low material requirement 5.2.5.6.1.3. Low or no requirement of deposition substrate 5.2.5.7. Restraints 5.2.5.7.1. Reliability 5.2.6. Other Thin Film PV Cells 5.3. Solar Photovoltaic Applications 5.3.1. Consumer Products 5.3.1.1. Drivers 5.3.1.1.1. Reduction in energy expenditure 5.3.1.1.2. Long life of power unit 5.3.1.2. Restraints 5.3.1.2.1. Limited duration of solar irradiation 5.3.2. Automotive applications 5.3.3. Space applications 5.3.4. Grid connected power supply 5.3.5. Residential power supply 5.3.5.1. Drivers 5.3.5.1.1. Reduce dependency on natural resources 5.3.5.1.2. Quick turnaround time 5.3.5.1.3. Incentive offered by government 5.3.5.2. Restraints 5.3.5.2.1. Expensive installations 5.3.6. Commercial Lightings 5.3.7. Solar PV Water Pumping 5.3.7.1. Drivers 5.3.7.1.1. Suitability in remote locations 5.3.7.1.2. Reliability of power 5.3.7.1.3. Flexibility of the system 5.3.7.2. Restraints 5.3.7.2.1. High capital investment 5.3.8. Others 5.3.8.1. Electric Fences 5.3.8.2. Gate Openers 5.3.8.3. Telecommunications 5.3.8.4. Water Tank De – Icers 5.3.8.5. Solar evaporative cooling units
6. Solar Tracking solutions Market 6.1. CPV-ready dual axis tracker has highest growth potential 6.2. Pricing analysis of Trackers show upward trend 6.3. Innovations and governmental support to raise the market potential 6.3.1. Drivers 6.3.1.1. Increase in energy output 6.3.1.2. Emerging solar & tracking technologies 6.3.1.3. Inexpensive 6.3.2. Restraints & Opportunities 6.3.2.1. Higher investment in land and space constraint 6.3.2.2. Limited use in thin-film solar panels 6.3.2.3. Large project pipeline for CPV & CSP markets 6.3.3. Innovations to drive the solar tracking solutions market 6.3.4. Dual axis trackers 6.3.4.1. Efficiency of dual axis tracking 6.3.4.2. Light sensor dual axis trackers 6.3.4.3. Software-operated dual axis trackers 6.4. Applications of Dual Axis Trackers 6.4.1. CPV-ready dual axis trackers 6.4.2. Non CPV-ready dual axis tracking 6.4.3. Single axis trackers 6.4.3.1. Drivers 6.4.3.1.1. Lower land requirements 6.4.3.1.2. Requires lower input energy & yields higher ROI 6.4.3.2. Single axis polar 6.4.3.3. Single axis horizontal 6.4.3.4. Single axis fixed tilt azimuth 6.5. Types of trackers based on motion drive 6.5.1. Active drive trackers 6.5.2. Passive drive trackers 6.6. Active drive tracking has technological advantage over passive drive tracking
7. Competitive landscape
8. Geographical Analysis 8.1. Global CPV Market Scenario 8.1.1. Americas Concentrated PV market 8.1.1.1. Revised tax structure and financial assistance 8.1.1.2. Development in technology and need of economies 8.1.2. European Concentrated PV market 8.1.3. Asian Concentrated PV market 8.1.4. ROW Concentrated PV market 8.2. Global Solar PV Market Scenario 8.2.1. AMericas Solar photovoltaic market 8.2.1.1. Utilities drive growth 8.2.1.2. Renewable Energy Standards and Federal Incentives 8.2.1.3. Renewable Portfolio Standards 8.2.1.4. U.S. SOLAR POLICY AND POLICY PRIORITIES 8.2.2. European Solar photovoltaic market 8.2.2.1. Re-tooled Feed-in-Tariffs 8.2.2.2. Environmental concerns boosting EU Solar PV market 8.2.2.3. Permitted Regulations 8.2.2.4. Emerging new markets 8.2.3. Asian Solar photovoltaic market 8.2.4. ROW Solar photovoltaic market
9. Patents
10. COMPANY PROFILE 10.1. Abengoa Solar 10.2. Amonix 10.3. Arima Photovoltaic & Optical Corp 10.4. Atlantis Energy Systems, Inc 10.5. Avancis GmbH & Co. KG 10.6. Azur Space 10.7. Concentrix Solar Gmbh 10.8. Cool Earth Solar 10.9. Cyrium Technologies 10.10. Emcore Corp. 10.11. Energy Innovations 10.12. Entech Solar Inc 10.13. ES System 10.14. Evergreen Solar 10.15. Everphoton Energy 10.16. GreenVolts 10.17. GT Solar International, Inc 10.18. Guascor Foton 10.19. Isofoton 10.20. Kyocera Solar 10.21. Mecasolar 10.22. Morgan Solar 10.23. Opel Solar, Inc. 10.24. Prism Solar Technologies Inc 10.25. Pyron Solar Inc 10.26. QuantaSol 10.27. Schott Solar 10.28. Silicon CPV Plc 10.29. Skyline Solar 10.30. SolaPoint 10.31. Sol3g 10.32. Solar Systems 10.33. Solel Solar Systems 10.34. SolFocus Inc. 10.35. Soliant Energy Inc. 10.36. Spectrolab Inc. 10.37. Spire Solar 10.38. Stellaris Corp. 10.39. SunPower Corp. 10.40. Terra Solar 10.41. Unirac 10.42. Uni-solar 10.43. Whitfield Solar 10.44. Zytech Solar
Appendix 1. Kyoto Protocol 2. Protocol Provisions 3. Comparative Cost-Efficiency Study of PV cells 4. U.S. patents 5. Europe patents 6. Asian patents
List of Tables
Table 1 Global Concentrated photovoltaic market, by products 2007-2014 ($Thousands) Table 2 Comparison between renewable and conventional energy Table 3 Global High Concentration CPV market, by Geography 2007-2014 ($Thousands) Table 4 Global Medium Concentration CPV market, by Geography 2007-2014 ($Thousands) Table 5 Global Low Concentration CPV market, by Geography 2007-2014 ($Thousands) Table 6 Comparative CPV Technologies Table 7 Global Solar photovoltaic market, by products 2007 – 2014 ($millions) Table 8 Global Solar photovoltaic market, by geography 2007 – 2014 ($millions) Table 9 major players and recent developments Table 10 Mergers and Acquisitions Table 11 Global CRYSTALLINE SILICON PV CELLS market by Products 2007 – 2014 ($millions) Table 12 Global CRYSTALLINE SILICON PV CELLS market by geography 2007 – 2014 ($millions) Table 13 major players and recent developments Table 14 Mergers and Acquisitions Table 15 Global MONOCRYSTALLINE SILICON PV CELLS market by geography 2007 – 2014 ($millions) Table 16 major players and their developments Table 17 Global MULTI-CRYSTALLINE SILICON PV CELLS market by geography 2007 – 2014 ($millions) Table 18 major players and their developments Table 19 Global THIN FILM PV CELLS market, by products 2007 – 2014 ($millions) Table 20 Global THIN FILM PV CELLS market, by geography 2007 – 2014 ($millions) Table 21 major players and their developments Table 22 Global Amorphous silicon (a-Si) thin film PV cells market, by geography 2007 – 2014 ($millions) Table 23 Global CdTe thin film PV cells market by geography 2007 – 2014 ($millions) Table 24 Global Copper indium diselenide market by geography 2007 – 2014 ($millions) Table 25 Global OTHER THIN FILM PV CELLS, by geography 2007 – 2014 ($millions) Table 26 Global SOLAR PHOTOVOLTAIC market, by applications 2007 – 2014 ($millions) Table 27 Global solar tracking solutions market, by products 2007 – 2014 ($thousands) Table 28 Major players and their recent developments Table 29 Major players and their recent developments Table 30 R&D and agreements and Collaborations (2007 – 2009) Table 31 Mergers and Acquisitions (2007 – 2009) Table 32 Global Concentrated photovoltaic market, by Geography 2007-2014 ($Thousands) Table 33 AMericas Concentrated photovoltaic market, by Segments 2007-2014 ($Thousands) Table 34 European Concentrated photovoltaic market, by Segments 2007-2014 ($Thousands) Table 35 Asian Concentrated photovoltaic market, by Segments 2007-2014 ($Thousands) Table 36 ROW Concentrated photovoltaic market, by Segments 2007-2014 ($Thousands) Table 37 Global Solar photovoltaic market, by Geography 2007-2014 ($Millions) Table 38 AMericas Solar photovoltaic market, by Segments 2007-2014 ($Millions) Table 39 European photovoltaic market, by Segments 2007-2014 ($Millions) Table 40 Asian Solar photovoltaic market, by Segments 2007-2014 ($Millions) Table 41 ROW Solar photovoltaic market, by Segments 2007-2014 ($Millions)
List of Figures
Figure 1 Shares of different sources of energy Figure 2 parental structure of CPV Figure 3 Evolution of CPV Figure 4 market forces ANALYSIS for CPV Figure 5 Global Average Direct Normal Irradiance Figure 6 Cost components of CPV Figure 7 Cost comparison of different sources of energy Figure 8 market potential for CPV Figure 9 Future Attractiveness of CPV applications Figure 10 Global Suppliers of Solar Photovoltaic, By Geography Figure 11 Solar photovoltaic production capacity, By Company in 2008(MW) Figure 12 Comparison of the solar tracking solutions Figure 13 Growth of the solar tracking solutions Figure 14 Parametric comparison of trackers Figure 15 Pricing trend of single axis trackers Figure 16 Pricing trend of dual axis trackers Figure 17 Market dynamics chart Figure 18 Single Axis Polar Trackers Figure 19 Single Axis Horizontal Trackers Figure 20 Motion drive comparison Figure 21 Industry growth strategies Figure 22 GEOGRAPHic SEGMENTATION OF CPV patents (2004 – 2009) Figure 23 year wise comparison OF CPV patents Figure 24 Segmentation of patents on the basis of cell types (2004-2009) Figure 25 american SEGMENTATION OF solar PV and CPV patents Figure 26 European SEGMENTATION OF solar PV and CPV patents Figure 27 Asian SEGMENTATION OF solar PV and CPV patents Figure 28 Cost-efficiency Analysis
Global Concentrated Photovoltaic Market
The Concentrated Photovoltaic (CPV) market includes Low Concentration Photovoltaic (LCPV), Medium Concentration Photovoltaic (MCPV) and High Concentration Photovoltaic (HCPV). The CPV market is still in a nascent stage but is developing rapidly due to the finite nature of non-renewable sources of energy, and the increasing demand for higher output and green energy. The CPV market is estimated to reach $266.0 million in 2014 from about $63.9 million in 2009.
The global rise in population and industrial automation have significantly increased the demand for electricity. These factors have also increased the pressure on natural resources and the level of greenhouse gas emissions. The CPV market is thus growing rapidly due to increasing environmental concerns and the resultant governmental incentives for green energy.
Although CPV technology still has to contend with issues such as reliability and durability, technology developments have significantly increased the conversion efficiency of CPV systems. With growing investments and large pipeline of projects, the total installed CPV installed capacity is expected to reach 1 GW by 2013.
Among all segments, HCPV commands the largest share of global CPV market, and is also expected to have the highest CAGR of 39.1% from 2009 to 2014. The conversion of HCPV systems lowers land requirement, and facilitates higher energy output at lower costs. HCPV technology is thus expected to achieve cost parity with conventional sources of electricity at a faster rate than other CPV technologies.
Modules account for 40% to 60% of the overall cost of CPV systems. Currently, CPV-generated electricity is used mainly in utilities. However, once CPV power reaches grid parity, its range of applications will expand to space, telecommunication, water pumping, and grid-connected residential power supply.
The initial high growth opportunity for the CPV market lies in regions with high direct normal irradiance (DNI) or direct solar radiation and high cost of grid electricity. These regions include southwest America, southwest Europe, western and central Australia, the Middle East, and northern Africa. While technology developments in the CPV systems market are currently concentrated in Spain, Germany, and the U.S.; government support for CPV technologies in countries such as India, China, Japan, and Australia are expected to drive future market growth.
The R&D conducted by the Instituto de systemas fotovoltaicos de concentrancion (ISFOC) of Spain has played a significant role in the development of CPV technology. The global CPV market is yet to be diversified and currently witnesses only limited competition. Some of the key players in this field are SolFocus, Concentrix Solar, Emcore, Spectrolab, Guascor Photon, Silicon CPV etc. New startups such as Semprius, Cyrium Technologies, GreenVolts, Sol3g etc have also begun making significant contributions in the development of CPV market. Resource-sharing collaborations and new technology developments are the two most popular strategies being adopted by companies in this field to gain competitive edge in the market.
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