Concentrated Solar Power Continues to Attract Sizeable Investments

Researched by Industrial Info Resources (Sugar Land, Texas)--Concentrated solar power (CSP), contrary to conventional photovoltaic (PV)-based solar generation, harnesses sunlight by using mirrors and lenses to generate thermal energy, which in turn propels a heat engine that converts it into electricity. According to the U.S. Department of Energy, single dish/engine systems can produce 5 to 25 kilowatts (kW) per dish and can be used in distributed applications. CSP also offers enhanced energy storage, as well as more consistent power generation and distribution.

Unlike PV, which directly generates electricity and lacks the ability to produce or store thermal energy, CSP's adaptability through various critical, mechanical and chemical components ensures operation, even in unpredictable conditions. Although PV stands as the favored option for tapping into solar energy, the considerable advantages of CSP, despite its elevated costs, continue to attract substantial investments.

Despite CSPs being more efficient, a significant percentage of energy investors have opted for PV to generate renewable power. This is because PV is becoming cheaper, partly due to feed-in tariffs implemented by the governments worldwide.

Industrial Info is tracking about 50 operational CSP plants globally. Presently, 45 capital-spending projects, totaling more than US$48 billion of investment, are geared toward constructing and installing CSPs that use solar thermal energy. About 52% of the total spending is attributed to Africa, where about US$25 billion is spread across 20 projects. Located in Morocco's Sahara Desert, the world's largest CSP plant, Noor Complex, boasts a 580 MW capacity.

Tunisia, Oman and South Africa are driving the global CSP market, with investments across the three countries totaling more than US$15 billion. Other countries with significant plans for CSP include the United Arab Emirates (UAE), Chile, Saudi Arabia, Morocco, Egypt, Botswana, Kuwait, Namibia, China, Australia, Lebanon, the U.S., Greece and Brazil.

The leading investor, TuNur Limited (Tunis, Tunisia), is expanding its TuNur (Kebili) CSP Solar Power Complex in phases. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project and Plant databases can learn more from detailed project reports on Phase I and Phase II, and a plant profile.

With 73% of the projects in the planning phase, 18% being engineered and 9% under construction, the future trajectory of CSPs hinges upon technological progress, governmental policies and shifts in global energy trends, with most set to become operational between 2024 and 2030.

Subscribers can click here for a list of detailed project reports for CSP capital-spending projects globally, and click here for a list of related plant profiles.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).