Global solar thermal cumulative installed capacity has grown from 354 MW (Megawatts) in 2001 to 697 MW in 2009 at a CAGR of 9% per annum.
However, the concentrating solar power planned projects that are coming online from 2010 onwards are anticipated to accelerate the CAGR to 46% per annum during 2010 to 2020.
In 2020, the solar thermal power capacity is expected to reach at 122,252 MW from 2,715 MW in 2010. The annual installations capacity is expected to witness a big surge in the coming decade, primarily due to the significant capacity additions in the US and Spain.
Additionally, the capacity addition will be supported, as many other countries like Australia, China, the United Arab Emirates (UAE), Algeria and Italy are coming up with the CSP (Concentrated Solar Power) projects.
The US solar thermal market grew at a CAGR of 2% per annum from 2001 to 2009. However, the government encouragement for the sector is expected to lift concentrating solar power to astonishing levels of 46% per annum for the period 2010 to 2020.
The installations are expected to pick up pace as high capacity plants come online during the period. California is expected to lead the concentrating solar power (CSP) installations with almost nine projects with a capacity of more than 500 MW expected to come online during the period of which one project is having capacity of 1,000 MW.
The sector growth will continue to be robust till 2020 as the RPS (Renewable Portfolio Standards) targets for the states will continue encouraging solar thermal power generation in the country.
Global carbon emissions have become a central focus of developed nations in attaining the twin goals of energy security and sustainability. In order to achieve this twin target of security and sustainability, there is an acute need to produce energy from the sustainable sources such as wind energy, solar energy, geothermal and biomass.
The global financial crisis has provided opportunities to governments to move forward in altering the present energy generation mix. The financial stimulus packages announced by the major developed nations have allotted almost $512 billion to green energy.
On the basis of announced stimulus packages to 31st March 2009, the observation can be drawn that the Asian nations, especially China, have contributed the most to the green energy projects (wind power, solar energy). South Korea has allotted the maximum amount to the green energy, followed by China.
The report provides in-depth analysis of the global solar thermal market and provides forecast estimates up to 2020. The research analyzes the key trends, major issues and growth opportunities in the global solar thermal market. The report contains in depth analysis of the key countries and provides forecast estimates up to 2020.
The research analyzes the key trends, drivers, major issues and growth opportunities in the key countries. The report also gives insights on market development of solar thermal in emerging markets. The report provides detailed analysis on the technology trends and cost break up for solar thermal. Information on the regulatory framework and key policies governing the industry has also been dealt with in detail. Elaborate profiling of major industry participants coupled with detailed analysis of important news and deals provide a comprehensive understanding of the global solar thermal market.