Concentrated photovoltaics (CPV) work well
in high heat regions. It has been of most interest for power generation in
sunny regions with DNI values of more than 2000 kWh/(m^2a). CPV electricity
generation is dependent on DNI as it does not absorb any diffuse from the sun.
This made CPV system more feasible in the high DNI region across the globe. It
is expected that a high number of the CPV systems will be deployed in these
sunlight rich regions. However, CPV tracking system synchronisation is the
major challenge for the market. Tracking permits CPV systems to generate a
greater amount of energy throughout the day in sun rich regions, notably during
the late part of the day when electricity demand peaks.
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Segmentation
The global concentrated photovoltaic (CPV)
market is segmented by type and application.
On the basis of type, the market is
divided into high concentrated photovoltaic (HCPV) and low concentrated
photovoltaic (LCPV).
On the basis of application, the market
has been divided into commercial and utilities. Utilities is a major
application of the concentrated photovoltaic market. It accounted for the
largest market share of 85.16% in 2016, with a market value of USD 868.84
million and is projected to grow at the highest CAGR of 11.70% during the
forecast period.
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Competitive Landscape
The major players adopted several
strategies to retain or expand their market share. The key strategy followed by
most companies within the global concentrator photovoltaic (CPV) market was
that of mergers & acquisitions, followed by partnership &
collaboration.
Industry News
Saint-Augustin Canada Electric Inc.
(STACE), a major supplier of large electrical equipment in the power generation
industry announced the acquisition of Soitec’s Concentrated Photovoltaic (CPV)
System technology. This acquisition helped the company increase their presence
in the renewable industry and complete their offering in the solar energy
market.
EnerTech signed a strategic investment and
partnership agreement with Morgan Solar Inc. Under the agreement, EnerTech has
planned to invest in MSI, and transferring solar concentrated photovoltaic
technology to Kuwait and the Middle East region.
In December 2017 Silfab Solar Inc., has
formed a joint venture with Morgan Solar Inc., to develop and produce a
disruptive low-cost PV module, designed specifically for large commercial and
utility-scale projects. This JV brings two of the most innovative and
technologically innovative companies in the solar industry, to share their
knowledge and experience to produce great quantities of high quality
photovoltaic modules at internationally competitive costs.
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