Spain and the US Shine the Brightest in the Global Solar Thermal Power
Market.
An increase in the cost of fossil fuels and supporting government policies (as
well as enviable weather) has seen Spain and the United States dominate the
global solar thermal market, explains a new report by renewable energy experts
GBI Research.
According to the intelligence firm’s latest research*, in 2011 Spain was the
primary stakeholder in the global concentrated solar power (CSP) market with a
massive 65% of the total installed capacity, with the US coming in second at
33%.
Spain only entered the CSP market in 2007, with the construction of the 11
Megawatt (MW) capacity PS10 solar tower. Since then the country has raced ahead
of the pack and in 2011 boasted a total installed CSP capacity of 1,002.2 MW –
the largest amount in the world by a significant margin.
The obvious advantage of abundant sunshine combined with impressive government
support has seen CSP boom in Spain. In 2005 the country’s government enacted an
ambitious plan for its renewable sector, the Renewable Energy Plan (PER). This
plan outlined particular attention to the solar power industry, and as the Spanish
government has declared a commitment to adhere to the European Union 2020
agenda on emissions and renewable energy shares, the Spanish solar thermal
sector is expected to have a strong future.
The US set up its first solar thermal plant in 1985 and so became to the first
country to produce solar thermal electricity with commercial viability. Growth
has been relatively modest since this pioneering effort, but GBI Research
predicts that, with redoubled commitment, the country’s CSP market will
increase from 508.5 MW in installed capacity in 2011 to 25,815 MW by 2020,
climbing at a Compound Annual Growth Rate (CAGR) of 63%.
This huge predicted increase is the result of US plans to commission numerous
major CSP plants throughout the next decade, including the La Posa Solar
Thermal plant and the Ranegras plant – both based in Arizona.
*Solar Thermal Power Market to 2020 - Asia-Pacific Continues to See Increased
Investments While Effective FITs in the Middle East and Africa Create Lucrative
Solar Power Destinations
This report provides in-depth analysis of the global solar thermal market and
provides forecast estimates up to 2020.
This report was built using data and information sourced from proprietary
databases, primary and secondary research, and in-house analysis conducted by
GBI Research’s team of industry experts.
Get your copy of this report @ http://www.reportsnreports.com/reports/184125-solar-thermal-power-market-to-2020-asia-pacific-continues-to-see-increased-investments-while-effective-fits-in-the-middle-east-and-africa-create-lucrative-solar-power-destinations.html
