CPV installations to surge to 1.36 GW/year by 2020 - IHS
Dec 11, 2013 - Annual additions of concentrated photovoltaic (CPV) capacity will jump to 1,362 MW in 2020 from 160 MW in 2013, expanding at double-digit percentages per year by the end of the decade, IHS Inc (NYSE:IHS) projects.
In a new report on CPV released Tuesday, the market analytics provider explains that CPV costs are falling thanks to technology improvements. The decline is expected to continue in the following years. According to Karl Melkonyan, photovoltaic analyst at IHS, this year the CPV market is “on the verge of a breakthrough in growth”.
Already, the average installed price for high-concentration PV (HCPV) has contracted to USD 2.62 (EUR 1.91) per watt, or 25.8% less than a year ago, on the back of higher volumes and enhanced efficiencies. Between 2012 and 2017 prices will fall at an annual compound rate of 15%, IHS calculates, arriving at USD 1.59/W at end-2017. CPV suppliers need to focus on achieving economies of scale and reducing soft costs.
IHS pointed out that CPV is actually more competitive with photovotlaics (PV) for large ground-mounted projects in hot, dry climates if the levelised cost of electricity (LCOE) for the two technologies is compared.