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Future customers will opt for CPV systems due to their high efficiency . The global concentrator photovoltaic market is split according to concentration levels , technologies , applications , and regions . By concent ration levels , the industry is bifurcated into high and low . High led with respect to demand in 2014 . It should exhibit ‘ greater than average ’ growth over the next eight years .
Refractors and reflectors constitute the technologies . The former is further divided into fresnel lens and luminescent concentrators . Reflectors and parabolic mirrors are the sub-segments of reflectors . Fresnel lenses in circular shapes have a concentration ratio of 500 , while lenses in cylindrical shapes have lower concentration ratios . Luminescent concentrators use refraction to direct the light towards solar cells . SolFocus has achieved a concentration ratio of 500 using parabolic mirrors on dual-axis tracking systems . Reflectors have a concentration ratio of 1.5-2.5 .
Applications comprise utility-scale , commercial , and others . Commercial is predicted to grow the fastest due to high demand for power across Asia Pacific . Utility-scale CPV plants can supply power to businesses at peak hours . This could facilitate the growth of solar energy industry .
Regions encompass Latin America , North America , Asia Pacific , Europe , and the Middle East & Africa ( MEA ). China and Southeast Asia are projected to reign during the forecast period . Both these regions accounted for energy consumption between 80-90 MW ( megawatt ) in 2015 . They were followed by the U . S ., South Europe , and Central America .
Combined installations of the U . S ., South Europe , and Central America added up to nearly 110 MW the same year . Europe dominated the concentrator photovoltaic market in 2014 , with Spain at the forefront . Spain received high direct normal irradiance ( DNI ) in 2014 . Delay in the construction of energy plants by ‘ Tenaska Solar ’ has led to low demand in the U . S .
Some of the prominent players in the worldwide concentrator photovoltaic market are Morgan Solar , Amonix Inc ., Zytech Solar , SunPower Corporation , and Semprius Inc . Mergers & acquisitions and collaborations are common expansion strategies employed by them . For instance , ‘ Morgan Solar ’ has allied with ' Enbridge ’ to build a solar plant ( in Alberta ) with a capacity of 10 MW . The project is said to raise the company ’ s annual capacity to 100 MW .
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