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Disruptive Technologies Accelerating the Growth of Concentrated Solar Power

Energy Disruptive Technologies Accelerating the Growth of Concentrated Solar Power

Improved operational efficiency and integration with thermal energy storage technology will enhance competitive intensity

INDUSTRY
Energy

RELEASE DATE
17-Oct-2022
REGION
Global
DELIVERABLE TYPE
Technology Research

RESEARCH CODE
DA57-01-00-00-00
SKU
EG02269-GL-TR_26991
Yes
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SKU
EG02269-GL-TR_26991

Disruptive Technologies Accelerating the Growth of Concentrated Solar Power
Published on: 17-Oct-2022 | SKU: EG02269-GL-TR_26991

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Description

This research service focuses on new and disruptive technologies in the concentrated solar power (CSP) industry. Solar energy technology has witnessed consistent improvements in terms of energy and cost efficiency. While solar photovoltaics is currently the most widely adopted method of solar energy utilization, CSP technology has several features which make it an attractive alternative at the utility scale for energy generation and heating applications. The key advantage of a CSP system is its ability to store excess electricity in the form of thermal energy. CSP technologies generate electricity by utilizing mirrors to reflect, concentrate, and direct incident sunlight onto a specific point to create thermal energy. This thermal energy can then be either stored in thermal energy storage devices or used to create steam to drive turbines for electricity generation. This enables CSP to be the source of both electrical and thermal energy and find applications in heat recovery. However, despite the ability to offer better conversion efficiencies, the capital expenditure of CSP technology is hindering deployment.
This study provides the following:
•     An overview of new and disruptive CSP technologies along with their benefits, drawbacks, and applications
•     A comparison of different types of CSP technologies in terms of energy efficiency and overall costs
•     A patent analysis of CSP technologies
•     An analysis of the factors driving and restraining the growth of the CSP industry
•     An analysis of the growth opportunities emerging in the CSP industry that stakeholders and market players can leverage

Table of Contents

Why Is It Increasingly Difficult to Grow?The Strategic Imperative 8™: Factors Creating Pressure on Growth

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Concentrated Solar Power (CSP) Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Research Methodology

Scope of Analysis

Segmentation of CSP

Growth Drivers Enhancing the Adoption of CSP

Growth Restraints Hindering the Adoption of CSP

CSP Adoption Likely to Increase, Driven by Performance Parameters Superior to that of PVs

CLFR Systems Likely to be the Prominent CSP Technology in the Coming Years

TES and Green Hydrogen to Pave the Way for a Zero-emission Future

Global Status of Solar Energy Generation Technologies

Levelized Cost of Electricity (LCOE) Comparison of Various Renewable Energy Generation Technologies

Total Capital Costs and LCOE Trends for CSP

Total Installed Costs by Components: Types of CSP Plants, 2021

Total Operations & Maintenance Costs for CSP by Region

Cost Competitive Solar Tower Power Plants Using Heliostats to Generate Renewable Solar Power

Next-generation Parabolic-trough-based CSP with High Optical Efficiency

AI-powered Solar Tower Power Plants for Renewable Energy and Industrial-grade Heat Generation

Linear Fresnel Collectors for Air Conditioning and Industrial Heating Applications

Molten-salt-based CSP Tower Plants that Convert Direct Normal Irradiation to Renewable Energy

Parabolic Solar Collectors for Generating Heat used for Industrial Processes

Paraboloidal Solar Collectors with High Solar-to-Electric Conversion Efficiency

United States Leads in CSP R&D Activity as of 2021

Growth Opportunity 1: Integration of Molten-salt-based TES

Growth Opportunity 1: Integration of Molten-salt-based TES (continued)

Growth Opportunity 2: R&D Investments and Partnerships

Growth Opportunity 2: R&D Investments and Partnerships (continued)

Growth Opportunity 3: Integration of CSP with High-temperature Hydrogen Production Technologies

Growth Opportunity 3: Integration of CSP with High-temperature Hydrogen Production Technologies (continued)

Technology Readiness Levels (TRL): Explanation

Your Next Steps

Why Frost, Why Now?

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This research service focuses on new and disruptive technologies in the concentrated solar power (CSP) industry. Solar energy technology has witnessed consistent improvements in terms of energy and cost efficiency. While solar photovoltaics is currently the most widely adopted method of solar energy utilization, CSP technology has several features which make it an attractive alternative at the utility scale for energy generation and heating applications. The key advantage of a CSP system is its ability to store excess electricity in the form of thermal energy. CSP technologies generate electricity by utilizing mirrors to reflect, concentrate, and direct incident sunlight onto a specific point to create thermal energy. This thermal energy can then be either stored in thermal energy storage devices or used to create steam to drive turbines for electricity generation. This enables CSP to be the source of both electrical and thermal energy and find applications in heat recovery. However, despite the ability to offer better conversion efficiencies, the capital expenditure of CSP technology is hindering deployment. This study provides the following: • An overview of new and disruptive CSP technologies along with their benefits, drawbacks, and applications • A comparison of different types of CSP technologies in terms of energy efficiency and overall costs • A patent analysis of CSP technologies • An analysis of the factors driving and restraining the growth of the CSP industry • An analysis of the growth opportunities emerging in the CSP industry that stakeholders and market players can leverage
More Information
Deliverable Type Technology Research
Author Sharath Thirumalai
Industries Energy
No Index No
Is Prebook No
Podcast No
WIP Number DA57-01-00-00-00