China Concentrated Photovoltaic Market is expected to grow at a CAGR of 14.03%
China
Concentrated Photovoltaic Market is expected to grow owing to subsidies to CPV
manufacturers, project developers, and end-users throughout the forecast
period.
According
to TechSci Research report, “China
Concentrated Photovoltaic Market –
By Region, Competition, Forecast and Opportunities, 2018-2028”, the China
Concentrated Photovoltaic Market is expected to register robust
growth during the forecast period. CPV systems commonly employ multi-junction solar
cells, known for their superior efficiency in converting sunlight into
electricity. This is particularly advantageous in areas with high levels of
direct solar irradiance. These cells are meticulously designed to capture a
wider spectrum of sunlight, thereby optimizing energy production.
The integration
of Concentrated Photovoltaics (CPV) with the grid offers valuable prospects for
energy companies and grid operators. As CPV technology continues to advance and
grid infrastructure evolves, the demand for efficient solutions to seamlessly integrate
CPV-generated electricity into the grid will increase. Grid management, demand
response, and energy storage technologies will play a pivotal role in
facilitating this integration.
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over XX market data Figures spread through XX Pages and an in-depth TOC on the "China
Concentrated Photovoltaic Market."
Based
on product, the
Refractors segment is expected to dominate the market during the forecast
period. Continuous research and development endeavors are propelling
technological advancements in refractors. Chinese manufacturers and researchers
are dedicated to enhancing the design, material quality, and optical efficiency
of refractors. These innovations contribute to elevated energy conversion
efficiencies and overall system performance. The primary objective of
refractors is to effectively concentrate sunlight onto solar cells. Attaining
high optical efficiency is of utmost importance as it directly influences the
overall energy conversion efficiency of CPV systems. Enhancements in refractor
design, such as improved optical surfaces and anti-reflective coatings, bolster
efficiency levels. China boasts a robust manufacturing ecosystem, with many
refractor components being domestically produced. This not only supports the
local CPV industry but also grants manufacturers greater control over quality
and production costs. Collaborations between refractor manufacturers, CPV
system integrators, and research institutions have the potential to drive
innovation and foster the development of optimized refractor solutions.
Partnerships with CPV companies and universities facilitate knowledge exchange
and technological advancements. With the escalating focus on sustainability and
environmental concerns, refractor manufacturers are prioritizing the use of
environmentally friendly materials and production processes. This aligns with
global efforts to minimize the environmental impact of renewable energy
technologies.
Based
on application, the Utilities segment is projected to dominate the market
throughout the forecast period. The utilities segment in the China CPV market
has experienced significant growth over the years. Utilities are increasingly
integrating CPV technology into their renewable energy portfolios due to its
high energy conversion efficiency. As China continues its transition towards
cleaner energy sources, the utilities segment is expected to further expand.
Government policies and incentives play a crucial role in this segment. China's
central and provincial governments provide subsidies, feed-in tariffs, and preferential
grid access to promote CPV project development. These incentives make CPV
projects financially appealing to utility companies. CPV systems are renowned
for their energy conversion efficiency, which can exceed 40%, making them
particularly attractive to utilities aiming to maximize energy production from
limited land resources. Effective grid integration is crucial for utility-scale
CPV projects. The intermittent nature of solar power generation necessitates
sophisticated grid management techniques, energy storage solutions, and demand
response mechanisms to ensure a stable and reliable energy supply to the grid.
Utility-scale CPV projects face competition from conventional energy sources,
particularly coal and natural gas. While CPV offers clean and sustainable
energy, its cost competitiveness with fossil fuels remains a consideration for
utilities.
Key
market players in the China Concentrated Photovoltaic Market are:-
- Suncore
Photovoltaic Technology Co., Ltd.
- Xi'an
Herui New Energy Technology Co., Ltd.
- Arzon
Solar LLC
- Shanghai
Concentrix Solar Energy Technology Co., Ltd.
- NexPower
Technology Corporation
- SolFocus Inc
- Sanan
Optoelectronics Co., Ltd.
- ZTE
Corporation
- Huawei
Technologies Co., Ltd.
- JinKo
Solar Co., Ltd.
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“The
China Concentrated Photovoltaic Market in Riyadh is poised to be the dominant
force in the industry. Ongoing advancements in CPV technology, encompassing
higher efficiency solar cells and more precise tracking systems, are
anticipated to bolster the competitiveness of CPV in East China. Research and
development endeavors are expected to prioritize the reduction of manufacturing
costs and the enhancement of energy conversion efficiency.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“China
Concentrated Photovoltaic Market Segmented By Product (Reflectors and
Refractors), By Concentration (High Concentration Photovoltaic and Low
Concentration Photovoltaic), By Application (Commercial, Utilities and Others),
By Region, and By Competition, 2018-2028,” has evaluated the future growth
potential of China Concentrated Photovoltaic Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in China Concentrated Photovoltaic Market.
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