Global Concentrated Solar Power Market to Gain Impetus from Rising Demand for Alternative Sources of Energy

As the demand for energy from alternative sources increases, the solar energy industry is expected to gain substantial impetus. Solar energy can be used to harness electricity in two distinct ways. One is by using photovoltaic systems and the other, by using solar concentrators. The basic approach of converting solar energy into serviceable electricity remains the same in both techniques. With several nations across the world going solar, having understood the importance of generating energy from renewable sources, an increasing number of homes and commercial buildings are likely to have solar panels installed in their roofs.

What Makes Concentrated Solar Power Unique?

Concentrated solar power (CSP) refers to the technology of harnessing the Sun’s energy and has the ability to provide electricity to hundreds of thousands of buildings, even when the sun is not shining. One of the most distinct characteristics of concentrated solar power is that once deployed with thermal energy storage, the technology produces electricity on demand. Furthermore, CSP, when deployed with thermal energy storage, allows the use of other renewable energy sources (such as solar photovoltaic and wind) to provide intermittent or variable electricity generation.

According to a report published by Transparency Market Research, the global concentrated solar power market, which in 2013 stood at US$2.5 bn, is expected to reach US$8.7 bn by the end of 2020. The ability of CSP technology to easily integrate with fossil-fuel-based energy sources in “hybrid” configurations significantly fuels the demand from the global market for concentrated solar power.

How does Concentrated Solar Power Work?

Concentrated solar power technology generates power from focused sunlight. Solar concentrators focus sunlight either in a photovoltaic or solar thermal system. The technology generally uses mirrors fitted with tracking systems to focus the dispersed sunlight onto a smaller area. A CSP plant can be classified into three sections, comprising the power block, thermal energy storage, and solar field. A solar field includes chains of parabolic fashioned mirrors. These mirrors are arranged in a distributed system in order to transfer the heating fluid from each dish into a central conversion station. The thermal energy system stores the generated energy for later use. The heating fluid is then transferred to the power block, where it is used for boiling water. The steam generated from the process is used by conventional steam generators to generate electricity.

Rising Awareness about Global Warming Fuels Demand for Concentrated Solar Power

The rising awareness regarding global warming, coupled with the heightened concerns pertaining to carbon emissions from power stations generating electricity from fossil fuels, has impelled industries and policy makers alike to focus on alternative sources of energy. Governments from various nations have also started adopting appropriate measures for reducing greenhouse gas emissions. Exploring alternative sources of power is touted as a major step taken towards reducing the overall carbon footprint. The rising government support has thus become a crucial factor bolstering the demand for concentrated solar power around the world.

Browse Research Press Release: http://www.transparencymarketresearch.com/pressrelease/global-concentrated-solar-power-market.htm

Concentrated Solar Power Market Led by Innovations in Portability, Efficiency

Concentrated solar power (CSP) is a way of maximizing the energy generated from solar power. As the name suggests, concentrated solar power plants work by collecting sunlight in a large radius and concentrating it onto a small point, which alone carries the potential for conversion of solar power into electricity. This not only makes energy generation from solar power more cost-effective, due to the lack of energy conversion material in all collection points, but also makes it more efficient in terms of the actual generation of usable electric power.

The need for an efficient and renewable energy source in the modern world is driving the global concentrated solar power market. According to research recently published by leading market analysis company Transparency Market Research, the global market for concentrated solar power is expected to grow more than threefold between 2014 and 2020, rising from a valuation of US$2.5 bn in 2013 to an estimated US$8.6 bn in 2020 at a dazzling 19.4% CAGR.

Browse Concentrated Solar Power Market Report with Full TOC at http://www.transparencymarketresearch.com/concentrated-solar-power-market.html

Parabolic Trough Concentrated Solar Power Generators Leading Demand for CSP

Of the various types of solar power generators used in concentrated solar generators, parabolic trough generators dominate demand from the global concentrated solar power market. Parabolic trough generators work much like a concave mirror, with a curved slab of mirrors concentrating sunlight onto a central node, which then transmits the solar energy to be used in generation of electricity. Due to the simplicity of this design, parabolic troughs are expected to remain dominant in the concentrated solar power market.

Incorporation of Thermal Energy Storage to Propel CSP Market

The major difficulty for concentrated solar power generation has been the same hindrance that has plagued all renewable power sources: what happens when the sunlight stops?

Like wind farms becoming useless when the wind stops blowing and tidal energy generation delivering an inconsistent output, concentrated solar power can be difficult to harness at times when sunlight isn’t at its brightest, or absent altogether. However, the addition of thermal energy storage to concentrated solar power generators represents a major step to CSP becoming a viable source of power all over the world.

‘Plonk-down’ CSP Generators Offer Lifeline to Global Concentrated Solar Power Market

In August 2015, researchers at the Stellenbosch University came up with a masterstroke in concentrated solar power generator design. Instead of constructing the conventional massive and thus cost-intensive CSP generator complex, the Helio100 project concentrated on making the CSP generators more portable.

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The device consists of six mirrors, triangular in shape, connected to a remote system that keeps the concentrated sunlight focused regardless of the position of the sun. The mirrors on this device don’t need concrete support, which is the key aspect helping its portability.

Designed in South Africa, where electricity is infrequent but the supply of solar power is abundant, this heliostat can be of great use in other regions with similar conditions, such as Southeast Asia. Europe, which accounted for 43% of the global concentrated solar power market in 2013, is also set to be a major regional player in the coming years, due to the ease of harnessing solar power in Southern European countries.