9 March 2011

CPV installed capacity to grow at CAGR of 174% through 2015

Concentrated photovoltaic (CPV) installed capacity will grow at a compound annual growth rate (CAGR) of 174% to just over 4% of global solar installations in 2015, forecasts the Strategy Analytics GaAs and Compound Semiconductor Technologies (GaAs) service report ‘CPV Technology Market Status Update and Future Prospects’, which is to be presented at the Solartech World 2011 event in Gwangju, Korea (16–17 March).

Solar installations have continued to grow strongly, with new installations reaching 16.3GW globally in 2010, market research firm Strategy Analytics estimates. Approaches using crystalline silicon continue to be the primary technology, followed by strong momentum behind thin-film technologies including cadmium telluride (CdTe) and copper indium gallium (di)selenide (CIGS). CPV technology remains behind these.

“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,” says Asif Anwar of Strategy Analytics. “While this has limited early deployment, the benefits of CPV will translate into rapid growth in these locations,” he adds.

“In 2010, some significant projects came into play in the southwestern United States, the Middle-East, Africa and Australia,” notes Eric Higham, director of the Strategy Analytics GaAs and Compound Semiconductor Technologies Service.

Tags: CPV CdTe CIGS

Visit: www.strategyanalytics.com

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