CPV surges through 2015, says Strategy Analytics

Concentrated photovoltaic (CPV) technology, which produces solar energy by concentrating sunlight onto a photovoltaic cell, is set to grow at a 174% CAGR through 2015, says Strategy Analytics’ new report, “CPV Technology Market Status Update and Future Prospects.” But that doesn’t mean it will be an easy road.

March 9, 2011 – Business Wire — Concentrated photovoltaic (CPV) technology, which produces solar energy by concentrating sunlight onto a photovoltaic cell, is set to grow at a 174% CAGR through 2015, says Strategy Analytics’ new report, “CPV Technology Market Status Update and Future Prospects.” But that doesn’t mean it will be an easy road.

CPV faces numerous challenges, such as lacking installation space. Most effective in areas with direct sunlight, CPV technology has the potential for strong growth. 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 Solartech World 2011, March 16-17, in Gwangju, Korea, predicts CPV installed capacity will grow at a compound annual growth rate (CAGR) of 174% through 2015.

New global solar energy installations reached 16.3GW in 2010, according to the analyst firm. Crystalline silicon solar cells 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 the pack.

“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 US, 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, Inc. provides market intelligence focused on opportunities and disruptive forces in the areas of Automotive Electronics and Entertainment, Broadband Connected Home, Mobile & Wireless Intelligent Systems and Virtual Worlds. For more information, please visit http://www.strategyanalytics.com/

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