Concentrated photovoltaic technological advances set to ignite market development

Whilst only 90 MW are estimated to be installed in 2012, installations are predicted to increase rapidly over the next four years.

11/30/2012


IMS Research (acquired by IHS)On-going, significant technological advances from  companies such as Solar Junction and Amonix will help drive concentrated photovoltaic (CPV) installations to almost 1.2 GW by 2016,  according to a new report from IMS Research (recently acquired by IHS Inc.).

The report, The World Market for Concentrated PV (CPV) - 2012, predicts that the cost of a CPV system will decline on average by 16 percent per year until 2016. In parallel to this cost reduction, leading suppliers are also making major technological advancements that will help make CPV more attractive in a number of markets.  “With companies such as Solar Junction breaking cell efficiency records and Amonix capable of producing 34.2 percent efficient commercial modules, and focused on driving down system prices, acceptance of CPV as a utility-scale generation method is predicted to accelerate,” explained report co-author and IMS Research Analyst Jemma Davies.

Whilst the upfront cost of a CPV system will always remain higher than a conventional PV system, as cell and module efficiencies increase, producing higher electricity yield, the levelized cost of electricity (LCOE) will fall considerably in the target regions for CPV systems (ground mount systems with a direct normal irradiance above 6kWh/m2/day). “It is important to focus less on up-front module prices and more on LCOE and what it means for the PV market. If a CPV system is capable of producing more electricity at a lower cost over its lifetime, surely it should be a viable option for a PV installation,” added report co-author and IMS Research Analyst Sam Wilkinson.

According to the report, one of the main issues that CPV suppliers face is the lack of proven and existing CPV systems to prove viability, however one of the most effective ways to prove the suitability of a CPV system is to install pilot systems. Soitec has proven the value of such installations after signing a PPA with Eskom in South Africa for a 44 MW system, which follows from a pilot installation close to the proposed power plant.  

These supplier announcements are evidence of the increasing understanding of the benefits CPV systems can provide in the target regions and the potential for this growing market. Whilst only 90 MW are estimated to be installed in 2012, installations are predicted to increase rapidly over the next four years.

IMS Research’s report The World Market for Concentrated PV (CPV) – 2012 was published in September and contains forecasts and analysis for this fast growing segment of the PV industry.



Consulting-Specifying Engineer's Product of the Year (POY) contest is the premier award for new products in the HVAC, fire, electrical, and...
Consulting-Specifying Engineer magazine is dedicated to encouraging and recognizing the most talented young individuals...
The MEP Giants program lists the top mechanical, electrical, plumbing, and fire protection engineering firms in the United States.
2017 MEP Giants; Mergers and acquisitions report; ASHRAE 62.1; LEED v4 updates and tips; Understanding overcurrent protection
Integrating electrical and HVAC for energy efficiency; Mixed-use buildings; ASHRAE 90.4; Wireless fire alarms assessment and challenges
Integrated building networks, NFPA 99, recover waste heat, chilled water systems, Internet of Things, BAS controls
Transformers; Electrical system design; Selecting and sizing transformers; Grounded and ungrounded system design, Paralleling generator systems
Commissioning electrical systems; Designing emergency and standby generator systems; VFDs in high-performance buildings
Tying a microgrid to the smart grid; Paralleling generator systems; Previewing NEC 2017 changes
As brand protection manager for Eaton’s Electrical Sector, Tom Grace oversees counterfeit awareness...
Amara Rozgus is chief editor and content manager of Consulting-Specifier Engineer magazine.
IEEE power industry experts bring their combined experience in the electrical power industry...
Michael Heinsdorf, P.E., LEED AP, CDT is an Engineering Specification Writer at ARCOM MasterSpec.
Automation Engineer; Wood Group
System Integrator; Cross Integrated Systems Group
Fire & Life Safety Engineer; Technip USA Inc.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
click me