Global CVP Setting Up for Explosive Growth

The solar market has been dominated by traditional rooftop and utility-scale photovoltaic systems for years now, systems reliant solely upon solar panels to be situated in stationary positions to capture the most sunlight possible. However, according to information company IHS, the solar industry may soon see a new technological-player develop prominence over the rest of this decade.

According to IHS, “the global market for concentrated photovoltaic (CPV) systems is entering a phase of explosive growth” — growth that IHS predicts will see installations boom by 750% by the end of 2020.

Concentrated PV is a technology which uses optics to focus sunlight onto photovoltaic cells in an effort to increase the intensity and reliability of the sunlight hitting the solar panels. This means that fewer panels are required to generate electricity, because the same amount of sunlight can be focused into a smaller area, reducing the need to build larger farms.

IHS believe that CPV installations are set to rise to 1,362 MW in 2020, up from their current number of 160 MW.

Global CVP Setting Up for Explosive Growth