Global Concentrated Photovoltaic (CPV) installed capacity will increase more than fourfold from 282.5 Megawatts (MW) in 2014 to reach 1.3 Gigawatts (GW) by 2020, across the seven major markets of the US, China, South Africa, Australia, Portugal, Italy and Spain, according to research and consulting firm GlobalData.
The company’s latest report states that while China and the US are the largest CPV markets globally, South Africa is expected to make a significant impact on the global arena over the course of the forecast period.
Harshavardhan Reddy Nagatham, GlobalData’s Analyst covering Power, says: “South Africa’s climatic conditions are highly suited to CPV technology, due to high Direct Normal Irradiance (DNI) rates throughout most of the country and the availability of vast expanses of land.
“South Africa’s first CPV plants were commissioned in 2010 and had a combined capacity of 0.2 MW, but the country now has the world’s third-largest installed CPV capacity, despite only having an installed Photovoltaic capacity of 1.5 GW.”
While GlobalData forecasts that South Africa’s CPV installed capacity will hit 193.3 MW by 2020, China will lead the world with 582.3 MW by the end of the forecast period.
Nagatham continues: “China remains the fastest growing CPV market in the world, high DNI concentration levels in the western part of the country combined with China’s manufacturing capacity, has made it home to the largest existing CPV plants and the highest number of upcoming large-scale plants.
“The government has targeted 100 GW of installed solar capacity by 2020, but there has been speculation that the target will be revised to 200 GW. While only a small portion of this upcoming capacity would be in the form of CPV installations and the rest would be regular PV installations, China would still represent a major part of the global installed CPV capacity in 2020,” the analyst concludes.
Like our Facebook Page
7 Benefits of Purchasing Sustainable Housing
Our Top Five Sustainable Home Renovations For 2023
6 Ways Eco-Friendly Photographers Can Take Beautiful Natural Pictures
Emerging Research In Seagrass Restoration: What Does The Future Hold?
Sustainable Bites: How To Make Your Diet Eco-Friendly
Coffee Farms & Cloud Forests: Colombia’s New Eco Initiatives
Electric Cars: Are They Worth The Switch?
Maximizing the Efficiency of Deliveries: Strategies for Sustainable Businesses
The Rise of Sustainable Cloud Computing
Navigating Towards A Greener Future: Sustainable Practices In Maritime
The Future of Sustainability In The Logistics Industry
Can Eco-Friendly Businesses Embrace VPNs to Bolster Cybersecurity?
Eight Different Eco-Friendly Developments in the Food Industry
UK Lags EU in Installing Heat Pumps to Slow Climate Change
5 Key Areas to Look at When It Comes to Business Sustainability
Addressing Leadership Challenges in Green Entrepreneurship
Holding Eco-Friendly Coins is Greener and More Profitable
5 Reasons That Diamonds Can Be Excellent Green Investments
Eco-Friendly Airlines Use Weather Models to Make Safer Flights
Why Should We Invest in Eco-Friendly Homes?
- Features3 months ago
What is the Eco-Friendliest Option to Wash Your Dishes?
- Environment7 months ago
6 Home Improvements You Can Make to Help the Environment
- Environment11 months ago
How to Ensure Your Home’s Eco-Friendly During Construction?
- Business10 months ago
The Pulp & Paper Industry is Reaching its Sustainability Goals