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China to dominate concentrated solar power renaissance



"Concentrate solar power plants," explains the Solar Energy Industries Association, "use mirrors to concentrate the sun's energy to run traditional steam turbines or electricity-generating engines. The heat energy concentrated in a CSP plant can be stored and used to produce electricity when needed , day or night. "However, despite the promise of the technology reflected by SEIA, CSP plants have become too pale from the existence of the United Kingdom.

SEIA continues to say that "Today, approximately 1,815 megawatts (MWac) of CSP plants are operating in the United States." This number pales in comparison to what happens to concentrated solar energy around the world. Although the CSP is relatively stagnant in the United States, it is supposed to make a recurring and already global recovery. The global CSP capacity around the world rose by a significant 11 percent last year, mainly due to Spain and Morocco. CSP is putting itself back on the global energy map in a big way – and for very good reasons.

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"A new analysis of the power generation costs of the International Renewable Energy Agency (IRENA)", reports Greentech Media ", showed that CSP fell more steeply in the cost last year than any other renewable technology, dropping 26 percent year-on-year, twice as much as in wind and PV, and has decreased by 46 percent since 2010. "

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The sudden and extreme reduction in the cost of the CSP has led to a real renaissance for the former obscure technology, making it more competitive with more traditional solar technology. While IRENA has secured its investments in the reduction of CSP prices and pointed out that current low interest rates may be unsustainable as there is not a large number of CSP projects in the near future, there is hope that the technology will be broadened in a hurry. In fact, Greentech continues to say that the "CSP expansion will rise in China this year, making a recovery in average global costs unlikely. Instead, IRENA predicts that average CSP costs will continue to fall by 2020 and hit $ 60. and $ 100 per megawatt hour, or about the same level as offshore wind. " Related: Is this the beginning of the end for Teslas Solar Business?

IRENA and Greentech are not the only organizations that anticipate a big year and a great comeback for concentrated solar energy around the world. Market intelligent company Visiongain recently released a massive 155-page report on the issue, called Concentrated Solar Power (CSP) Market Report 2019-2029, which found that the global CSP market will be $ 37.3 this year. The report's details, "Demand for CSP is expected to increase over the next few years due to supportive government regulations on renewable energy and growing electricity consumption. Spain, the United States, South Africa and India are the major CSP countries."

The leading fee already exists in a large Spanish-led CSP project in Dubai. Suitable for a city full of the world's highest and greatest wonders, the Spanish company Refractaris is involved in building the world's tallest solar tower. "With a height of 260 meters and capable of generating 100 megawatts, Spanish renewable energy news source Reve reports," The solar thermal project is expected to be fully operational by the end of 2020. "

While Spain and the US remain at the top of the CSP capacity charts, this ranking can be short-lived. Much of the reason why CSP has become so affordable is China's sudden involvement at various levels in the CSP supply chain, both independently and in collaboration with various Middle East projects. China's CSP market is expanding with a serious cut and with their obvious interest being involved at all levels, we can more than likely expect China to dominate the CSP markets in the near future.

By Haley Zaremba for Oilprice.com

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