Global Solar concentrated photovoltaic market will grow at a CAGR of 34.1 percent over the period 2014-2018.
The solar CPV market can be divided into High Concentrated photovoltaic, Medium Concentrated Photovoltaic and Low Concentrated Photovoltaic depending on the degree of concentration of CPV systems.
Countries like Spain, Australia, the U.S, China and India that receive high solar radiation have higher number of solar CPV installations, the research said.
Compared to other PV systems, CPV is a relatively immature technology. As per the research forecast they are expected to gain lower Levelized Cost of Electricity (LCOE) reduction in future.
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