“CPV installations will grow at a CAGR of 174% to account for just over 4% of global solar installations in 2015.”
Solar energy installations have continued to grow strongly, with Strategy Analytics estimating that new global installations reached 16.3 GW in 2010. Approaches utilizing crystalline silicon continue to be the primary technology, followed by strong momentum behind a host of thin film technologies including cadmium telluride (CdTe) and copper indium gallium selenide (CIGS). Concentrated PV (CPV) technology remains behind these other technologies.
“While potentially offering 100% improvement in efficiencies compared to other solar technologies, CPV is only really effective where there is high direct normal solar irradiation,” noted Asif Anwar at Strategy Analytics. “While this has limited early deployment, the benefits of CPV will translate into rapid growth in these locations.”
“In 2010, some significant projects came into play in the southwestern United States, the Middle-East, Africa and Australia,” noted Eric Higham Director, GaAs service. “CPV installations will grow at a CAGR of 174% to account for just over 4% of global solar installations in 2015.” Strategy Analytics will be presenting these findings at Solartech World 2011, March 16-17, Gwangju, Korea.