February 8, 2011 -- According to the Concentrated Photovoltaics Industry Report, concentrated photovoltaic (CPV) installations in the US will grow from 1.5MW to 75MW in the next 5 years. CPV in the US is predicted to see a compound annual growth rate (CAGR) of 75% in the 5 year period. If installation patterns in the PV industry are anything to go by, this will represent just 8% of total CPV installations by 2015.
Findings from the Concentrated Photovoltaics Industry Report show that the CPV industry has emerged stronger in recent years. Both new projects and the entry of more players into the CPV market indicate a renewed interest in this technology.
The most ambitious project is planned for Taiwan, where Guascor Foton and Ya-Fei Green Energy are set to install a 100% CPV powered 59MW plant. Should this project materialize, it will become the largest solar PV installation worldwide, setting a milestone for the potential of CPV as a large-scale power generation technology. Elsewhere, Solfocus will add another project to its portfolio by beginning construction on a new 8.5MW in Portugal and Compsolar has announced that it will complete a 5MW project in China.
The number of CPV module manufacturers continues to grow. Many of these new entrants are exploring new approaches to CPV, such as rooftop installations and innovative optics that reduce the need for precise tracking systems. CPV technology advances promise to reduce costs and open up the commercial and residential rooftop market segments for CPV. Another indicator of renewed enthusiasm for this sector is the entry of new cell manufacturers -- including start-ups such as Cyrium, Quantasol -- as well as established semiconductor companies such as JDSU.
The latest information on CPV costs, current projects and industry analysis is available in the Concentrated Photovoltaics Industry Report. Visit http://www.cpvtoday.com/photovoltaic-solar-panels/index.shtml for more information.