Energy in February 2017 announced to offer equipment for the first commercial integrated solar-wind hybrid power generation project in the industry. It is the 4.6MW community based project in Red Lake Falls, Minnesota, developed by Juhl Energy which uses two 2.3-116 wind turbines from GE Renewable Energy’ s portfolio. Other players are similarly involved in innovations for their strategic growth.
Market Segmentation:
Based on the components, the market is segmented as, solar field, power block and thermal energy storage system. Solar field block includes the reflector surfaces and pipes that collect sunlight. The power block consists of heating system and pipe through which the fluid is passed, whereas the energy storage system stores the generated energy for the future application. The solar field segment is projected to be the largest market; due to the major presence of large number of complex and costly subcomponents included within the segment. The global concentrated solar power market, based on end users are bifurcated as, residential, commercial & utilities and industrial. The commercial & utilities segment is anticipated to account to the largest market share, owing to the favorable government regulations towards increasing the adoption of renewable sources of energy and rising number of medium to large scale projects, which are under advancement and in pipeline globally
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Region Analysis:
Geographically, the concentrated solar power market is bifurcated into North America, Europe, Asia Pacific, Middle East and Africa and Latin America. North America region is anticipated to dominate the market, in terms of revenue. However, Asia Pacific region is expected to be the fastest growing market, owing to the rising demands of electricity supply due to increasing population during the forecast period. Moreover, Middle East and African region is also anticipated to grow substantially, owing to governments’ intervention in solar powered projects.
Major Points from Table of content:
• Executive Summary
• Research Methodology
• Market Dynamics
• Industry Overview
• Global Concentrated Solar Power Market, By Product( 2017-2025)
• Global Concentrated Solar Power Market, By Regions( 2017-2025)
• Market Competition Analysis
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