Demand for Concentrated Solar Power Systems to Increase owing to Rising Awareness for Global Warming

Solar energy is used to produce electricity in two different ways namely, using photovoltaic systems and solar concentrators. In concentrated solar power technology, mirrors with tracking systems are used to focus sunlight to a small area from a large area. This forms heat which is then used for the generation of power. The concentrated solar power plant consists of thermal energy storage, solar field, and power block. Where the demand for power generation is increasing across the globe, governments of many nations are focusing on promoting environment-friendly ways to generate power. The rising awareness of global warming can be credited to be the most important factor expected to propel the global concentrated solar power market. Transparency Market Research (TMR), in its new report, states that the global concentrated solar power market stood at US$2.51 bn in 2013 and is predicted to reach US$8.67 bn by 2020, progressing at a 20.30% CAGR between 2014 and 2020. View exclusive Global strategic Business report : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1898

Demand for Concentrated Solar Power Systems to Increase owing to Rising Awareness for Global Warming

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