23 Apr 2019
Market intelligence firm GlobalData revealed that China will boast the most concentrated solar power capacity additions from now until 2030, surpassing Chile.
GlobalData said that China is forecast to increase its capacity of concentrated solar power from 5.6 gigawatt (GW) in 2018 to 22.4GW in 2030.
The report revealed that Chile and several Middle Eastern and North African countries will follow close behind China, while pitching in to improved efficiencies, energy storage and cost reduction.
As Compelo reports, the progress relies heavily on competitive bidding, the widespread development of crossover photovoltaic and concentrated solar power systems.
“The concentrated solar power industry added around 601MW annual capacity in 2018 with projects being operational in countries such as Morocco, China, South Africa, Saudi Arabia and Kuwait,” said Power analyst Pavan Kumar Vyakaranam.
“China added around 200MW of concentrated solar power capacity in 2018 which is almost seven times its cumulative installed capacity at the end of 2017.”
He went on to say: “China’s concentrated solar power market gained momentum after the announcement of 20 projects as part of the first batch of demonstration projects, which will get a feed in tariff (FIT) of RMB1.15/kWh (£0.132/kWh).”