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 PhotovoltaicMarket – 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.
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.
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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 Marketand 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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