+44 (0)24 7671 8970
More publications     •     Advertise with us     •     Contact us
 
Loading...
{megaLeaderboard}
{normalLeaderboard}
News Article

CPV creeps towards 100MW

News

The concentrated photovoltaic (CPV) market is forecast to double in 2012 and reach almost 90 MW or $325 million, according to a new report from IMS Research. Furthermore, IMS Research predicts installations of this emerging technology will grow rapidly over the next five years to reach almost 1.2 GW by 2016.

IMS Research's recently released report The World Market for Concentrated PV (CPV) - 2012 revealed that the CPV market is predicted to reach almost 90 MW in 2012 and at the same time revenues are predicted to increase by more than 60 percent to reach $325 million. The research firm predicts that despite strong competition from conventional PV systems, there is still an attractive market for CPV in its target regions. "CPV suppliers are being forced to continually decrease costs in order to compete with the rapidly falling cost of PV systems. The technology is still relatively new and faces bankability issues. Despite this, CPV suppliers have made significant progress in the USA market, with a forecast 13 percent share of the target market in 2012, rising to a predicted 27 percent by 2016" explained report co-author and IMS Research Analyst Jemma Davies.

Whilst CPV is forecast to remain a niche in the overall PV landscape, in the long-term, the report found that the outlook for CPV remains positive. Installations forecast to capture an 18 percent share of its target market (ground mount systems with a direct normal irradiance DNI above 6kWh/m2/day) by 2016. High concentration PV (HCPV) systems are forecast to dominate the market in 2012, however low concentration PV (LCPV) installations are forecast to accelerate over the next five years, capturing a 20 percent share of the CPV market by 2016. "Currently LCPV suppliers have not entered the market aggressively, however with recognised companies such as SunPower poised to install a significant amount from 2013, these products are set to gain market share as a result" added report co-author Sam Wilkinson.

According to the report, the most attractive markets for CPV will be the U.S. and Central America as well as Middle East and Africa (excl. S. Afr.), which will see CPV capturing up to a 27 percent share of the high DNI target markets by 2016. In particular, regions such as South West U.S., Chile, Saudi Arabia and Morocco are predicted to see high growth, with conditions in these regions suited to CPV.

The research profiled over 30 CPV suppliers, however in 2011 the market was dominated by the top five suppliers, which accounted for almost 90 percent of installations. Amonix was found to be the largest supplier to the market, however since the closure of its operations earlier this year and as the number of suppliers commercializing their products increases, the competitive landscape is expected to shift considerably. Suppliers such as Soitec and SolFocus  are expected to gain market share in 2012 according to the report.

Schletter Group: 48 MWp Project in Italy
ENCAVIS Acquires Two More Solar Parks In Spain and Surpasses The Planned Expansion
Maximum profitability with KACO advanced technology for complex solar roofs
Enviromena wins contract to re-power three major solar farms ahead of the summer energy peak
New Swansea University Collaboration to Support Sustainable, Locally Manufactured Solar PV
New Swansea University Collaboration to Support Sustainable, Locally Manufactured Solar PV
Next2Sun Builds World's Largest Vertical PV Plant at Frankfurt Airport
DNV Publishes Bankability Study of Solcast Satellite Irradiance Data
Steel company SSAB switches to fossil-free energy in Italy with PV solution from Solnet
janom Investments enters the Croatian solar energy industry by investing in a 30 MW power plant project
Trina Solar Vertex S+ 505W n-type dual-glass modules enter mass production
BayWa r.e. and 3E sign partnership agreement for monitoring & analytics of global PV portfolio
Accelerating Spain's Energy Transformation: LONGi to supply Naturgy with 1 million modules in new deal
NTR announces corporate PPA with Almac Group to buy energy from Murley Wind Farm, Northern Ireland
Oxford PV sets new solar panel efficiency world record
Order Intake for the Construction of Wind Turbines in Turkey
Trilantic Europe acquires stake in AEROCOMPACT Group
Octopus Energy makes solar farm debut in Germany
Austria-based KOGA Energy, a solar EPC solutions provider, has kicked off.
Exus to acquire 625MW New Mexico solar portfolio
Capcora Accompanies SUSI Partners In Raising Senior Debt For a Polish Renewables Portfolio
Qualitas Energy acquires a 96 MW wind energy project pipeline in Germany
Nordex Group receives orders from the UK for approx. 150 MW
Trina Solar gains EPD certification from UL Solutions and EPDItaly for industry leading modules
Mandarin Oriental Hyde Park, London instals innovative solar tech to decarbonise heating
Efficiency First: The Road to Electrification
SCHLETTER Supplies Austria's Largest PV Roof System
E.ON partners with UK renewable heat innovator Naked Energy
Sonnedix signs innovative EUR500 million loan facility to finance construction of its renewable electricity pipeline in Europe and UK
Construction begins on Glennmont and Ørsted’s Borkum Riffgrund 3 offshore wind farm in Germany
ABB shores up reliable power supply at Southeast Asia’s largest floating solar plant
Sonnedix starts construction of 300MW UK solar PV portfolio

×
Search the news archive

To close this popup you can press escape or click the close icon.
Logo
×
Logo
×
Register - Step 1

You may choose to subscribe to the Solar + Power Magazine, the Solar + Power Newsletter, or both. You may also request additional information if required, before submitting your application.


Please subscribe me to:

 

You chose the industry type of "Other"

Please enter the industry that you work in:
Please enter the industry that you work in: