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.
Currently, CPV tracking with sufficient accuracy and reliability is required.
Improper tracking of CPV system results into less energy output and hence
stands unfeasible in major regions, across the globe.
Key
Players:
The
key players of global concentrated photovoltaic (CPV) market are Radical Sun
Systems, Inc. (U.S.), SolAero Technologies Corp. (U.S.), Arzon Solar LLC.
(U.S.), Cool Earth Solar (U.S.), Morgan Solar Inc. (Canada), ARIMA Group
(Taiwan), Suncore Photovoltaic Technology Company Limited (China), and
Guangdong Redsolar Photovoltaic Technology Co. Ltd (China). Sumitomo Electric
Industries, Ltd. (Japan), Saint-Augustin Canada Electric Inc. (STACE) (Canada),
Sanan Optoelectronics Technology Co., Ltd (China), Suntrix Company Ltd (China),
and Macsun Solar Energy Technology Co., Ltd. (China), are among others.
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Segmental Analysis:
For
study, 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). HCPV accounted for the largest
market share of 93.14% in 2016, with a market value of USD 950.3 million and is
anticipated to grow at the highest CAGR of 11.63% during the forecast period.
This technology uses low cost, concentrating optics in place of large areas of
silicon to capture and transform the sun’s radiant power into electricity. HCPV
technology performance advantages are maximized in geographical locations,
which are warm and have high levels of sunshine, measured by Direct Normal
Irradiance (DNI). Currently, more than 90% of the capacity installed, is in the
form of HCPV with two-axis tracking.
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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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Future:
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