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Follow on Google News | Concentrated Solar Power (CSP)Global Cumulative Installations to Reach 70.8 GW by 2020
By: Rajesh Gunnam improved efficiency. The global CSP market is highly concentrated, with the US and Spain dominating the market. Strong government support through financial incentives has driven market growth in these nations. The Southwest US has the most potential for CSP generation. Other areas with significant potential include the Middle East, Mediterranean countries, and areas in Eastern and Central Asia. Aside from land and environmental constraints, high capital costs and grid infrastructure play an important role in deciding the future growth of the CSP market. Utility companies play an important role for CSP producers, as they purchase electricity produced at a premium A key determinant for CSP market trends is government policies, as the market is relatively young. Presently, the CSP market is characterized by the high cost of power generation and the challenges of achieving economies of scale. However, government support through FIT is driving investment in the market. Additionally, regulations which require utility companies to purchase a certain portion of electricity from renewable sources, particularly solar sources, encourage private entities to enter the CSP market. Government support is a critical determining factor for the future of the CSP market due to a number of limiting factors. These factors include: grid infrastructure, high capital costs, the availability of land and environmental issues. For Sample Pages, please click or add the below link to your browser: http://www.globaldata.com/ The global CSP market is highly concentrated, with the US and Spain dominating the market. Strong government support through financial incentives has driven market growth in these nations. Spain is global leader for CSP technology through use of the country’s abundant sunlight resources. Spain entered the CSP market in 2007 with establishment of the PS10 solar tower, which has a capacity of 11MW. Until 2010, cumulative installed capacity in Spain reached 582.4MW and Spain became the highest CSP installed country in the world. The US is the second largest CSP market in the world and represented over 44% of global total installed capacity in 2010. The first CSP plant, SEGS 1, came into operation in 1985 with an installed capacity of 14MW in the Mojave Desert, California. This was an ideal location for CSP power generation as it had the highest solar installation potential in the country. The high cost of installation results in elevated power generation costs, and this is a challenge for investment in renewable sources such as CSP. However, financial incentives such as fixed premium payments for power generated from solar thermal energy will encourage industry investments. Furthermore, the US and Spanish governments are encouraging investors through the offer of loans and grants to establish a plant. "Concentrated Solar Power (CSP) - Global Market Size, Competitive Landscape, Regulations & Investment Analysis to 2020" is the latest report from GlobalData, the industry analysis specialists that offer comprehensive information and understanding of the Global Concentrated Solar Power market. The research provides an understanding of the technology, key drivers and challenges in the global concentrated solar power market. It also provides historical and forecast data to 2020 for installed capacity and power generation. The report details the cost analysis and investment analysis in the global concentrated solar power market. The report analyses concentrated solar power initiatives with policy framework in key countries such as the US, Spain and Australia. The report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s Team of industry experts. For further details, please click or add the below link to your browser: http://www.globaldata.com/ Visit our report store: http://www.globaldata.com/ For more details contact: pressreleases@ North America: +1 646 395 5477 Europe: Asia Pacific: # # # GlobalData is a UK-based company with presence across North America, Europe and Asia Pacific and has a broad product offering that ranges from interactive databases, reports and custom solutions. It is a comprehensive source of insights and analysis with coverage including oil & gas, power, alternative energy, nuclear power, petrochemicals, medical equipment and healthcare industries. End
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