Amid skyrocketing demand, increasing fossil fuel extraction costs, and tighter controls on CO2 emissions, rising energy prices are a reality that is here to stay. Energy producers are thus shifting to more sustainable models — in which solar energy will play a key role.
The solar energy market is growing rapidly, fueled by industry efforts to bring solar-generated electricity costs to grid parity. In fact, solar energy is becoming increasingly competitive in the world’s sunnier regions, to the extent that solar energy is already less expensive than oil-fired power plants for daytime peak electricity generation in these regions.
CPV Market Forecast
Source: SPV Market Research ‘2012 ; Conservative Scenario
Over the past few years the photovoltaic market has seen a clear trend towards systems with larger power outputs. Soitec’s concentrator photovoltaic (CPV) systems are designed for these new power plant installations.
Soitec provides innovative solar power plant technology for the energy challenges facing hot, dry regions.
Soitec provides the world’s most advanced solar power plant technology for the energy challenges facing hot, dry regions.
The CPV Consortium, the world’s leading CPV industry organization, predicts that CPV will grow to represent 5% to 10% of the total PV market by 2015.
Because it does not require the use of cooling water, CPV offers a clear competitive advantage in hot, dry regions.
In terms of converting solar energy into electricity, CPV modules are the most efficient on the market when used in high DNI regions like the Southwestern United States, North and South of Africa, the Middle East, part of South America and Australia, where Direct Normal Irradiation (DNI) is high.
CPV is perfectly suited for high ambient temperatures