The production capacity of concentrated solar power is projected to increase by 87% between 2018 and 2023

Posted on January 23, 2019

Global production capacity of concentrated solar power projects is projected to increase by 87% or 4.3 gigawatts between 2018 and 2023, according to a recent report by the International Energy Agency. This represents a faster increase of 32% than in 2012-2017.

Collected solar energy systems produce energy using mirrors and other means to assemble a large amount of sunlight or solar thermal energy in a small area. So far, these technologies can not compete with conventional PV panels at cost. By 2017, Spain was responsible for half of global production capacity, but growth in the sector is expected to rise globally, as the report says.
The conservative scenario includes 1.9 gigawatts of new capacity in China, 1 gigawat of new projects in Morocco and South Africa, another 1 gigawat in the Middle East, and extra capacity from projects in Australia and Chile.
According to a scenario of faster development of the projects announced, solar power plants could produce an additional 2.6 gigawatts of power over the next five years, according to the report.
Saudi Arabia intends to build projects worth a total of 2.7 gigawatts by 2030, according to a new plan announced by the government of the major oil producing country on 9 January. Saudi Arabia seeks to reduce its dependence on hydrocarbons as part of a wider diversification plan for its economy.
In total, Saudi Arabia plans to build renewable projects of 58.7 gigawatts by 2030, including solar giant 40 gigawatts and wind giant 16 gigawatts. Projects worth around 27.3 gigawatts of this production capacity are expected to be completed by 2023. This target is much higher than the previous one set by the Arab country, which was 9.5 gigawatts by 2023.

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