North America Concentrated Solar Power (CSP) Market

North America Concentrated Solar Power Market Analysis

The North America Concentrated Solar Power Market is expected to register a CAGR of greater than 2.5% during the forecast period.

• The Power tower project is expected to dominate the market during the forecast period. This technology accounts for 60% of the projects. The system provides higher efficiency as the concentration of light is onto a one single receiver which yields higher temperature.
• According to the International Renewable Energy Agency, Mexico is expected to provide opportunities for CSP market in the near future. The country has potential to generate 60 GW of wind and solar energy by 2030. Futhermore, the country is also aiming to utilize 21% of its the renewable enegry by 2030. To achieve this Mexico need annual addition of 1.7 GW of wind energy, 1.5 GW of solar photovoltaic PV and 100 MW concentrated solar power.
• The United States has dominated the concentrated solar power market. The government's supportive policies for the research and development of concentrated solar power plants are expected to drive the market in the country.

North America Concentrated Solar Power Market Trends

The Power Tower is Expected to Dominate the Market

• The power tower systems are expected to witness higher demand during the forecast period.These systems could efficiently achieve high temperatures with the help of high concentration ratios by using different configurations of the collector field and receiver. Solar power towers have high-temperature cycles, which permit higher efficiency in converting solar radiation to electricity; this could result in the reduction of the Levelized energy cost.
• These systems have the potential to operate in temperatures higher than 1000°C. However, there are few technological barriers due to which CSP companies can only use CSP plants at temperatures in the range of 600-800°C. Thus, the companies are developing CSP, which could utilize higher temperatures than the current CSP plants. This increase in efficiency would further reduce the Levelized energy cost.
• The presence of concentrated solar power projects in North America since the 1980s. Increased focus and investment in renewable energy projects to limit carbon and greenhouse gases emission is expected to drive the concentrated solar power market in the region. In 2010 the total CSP capacity was around 535 MW, and in 2020 the CSP capacity was around 1818 MW.
• Hence, the power tower systems are expected to dominate the market for concentrated solar power during the forecast period.

The United States to Dominate the Market

• North America is one of the leading regions in installing concentrated solar power projects. The region witnessed 1st concentrated solar power in 1979 near Albuquerque, New Mexico, the United States. The project's total capacity is 5 MW and is still operational.
• The United States is the leading country in the region regarding the project installed and the overall capacity of concentrated solar power projects. In 2021, the United States contributes more than 95% market share in North America's concentrated solar power market.
• In 2021, the United States had 26 projects which generated around 1,810 MW of energy from concentrated solar power, whereas in 2010, concentrated solar power generation was about 535 MW.
• The U.S. Department of Energy Solar Energy Technologies Office (SETO) provides financial and technical support for CSP research and development projects. In this, the department focuses on improving performance, reducing operational cost, and improving the life & reliability of materials, components, and integrated solutions for CSP technologies. Therefore, in total concentrated solar power is expected to have significant growth in the market.

North America Concentrated Solar Power Industry Overview

North America concentrated solar power market is moderately fragmented. Some of the key players in the market include CSP Ultra Lite Solar. , BrightSource Energy, Inc., EnergyNest AS., ENGIE, and ACCIONA.

North America Concentrated Solar Power Market Leaders

North America Concentrated Solar Power Market News

No recent developments since the market is stagnant from 2017 till now