The report provides in-depth analysis of the global solar thermal market and provides forecast estimates up to 2020. The research analyzes the key trends, major issues and growth opportunities in the global solar thermal market. The report contains in depth analysis of the key countries and provides forecast estimates up to 2020. The research analyzes the key trends, drivers, major issues and growth opportunities in the key countries. The report also gives insights on market development of solar thermal in emerging markets. The report provides detailed analysis on the technology trends and cost break up for solar thermal. Information on the regulatory framework and key policies governing the industry has also been dealt with in detail. Elaborate profiling of major industry participants coupled with detailed analysis of important news and deals provide a comprehensive understanding of the global solar thermal market.

Report Highlights
Solar Thermal Power Market Forecast to 2020 - Utilities to Drive Future Developments in the Concentrated Solar Power (CSP) Market

The report provides in-depth analysis of the global solar thermal market and provides forecast estimates up to 2020. The research analyzes the key trends, major issues and growth opportunities in the global solar thermal market. The report contains in depth analysis of the key countries and provides forecast estimates up to 2020. The research analyzes the key trends, drivers, major issues and growth opportunities in the key countries. The report also gives insights on market development of solar thermal in emerging markets. The report provides detailed analysis on the technology trends and cost break up for solar thermal. Information on the regulatory framework and key policies governing the industry has also been dealt with in detail. Elaborate profiling of major industry participants coupled with detailed analysis of important news and deals provide a comprehensive understanding of the global solar thermal market.

Green Stimulus: A Crucial Support to Renewable Energy

Global carbon emissions have become a central focus of developed nations in attaining the twin goals of energy security and sustainability. In order to achieve this twin target of security and sustainability, there is an acute need to produce energy from the sustainable sources such as wind, solar, geothermal and biomass.

The global financial crisis has provided opportunities to governments to move forward in altering the present energy generation mix. The financial stimulus packages announced by the major developed nations have allotted almost $512 billion to green energy. On the basis of announced stimulus packages to 31st March 2009, the observation can be drawn that the Asian nations, especially China, have contributed the most to the green energy projects. South Korea has allotted the maximum amount to the green energy, followed by China.

Global Solar Thermal Market – Impressive Growth in Installations from 2010 Onward

Global Solar Thermal market was concentrated in the US only till Spain joined in 2007. Since 2007, the sector has broadened its geographical reach and Australia and Morocco has also started the solar thermal plants. Due to the high energy efficiency, the technology is gathering the interest of the other nations with the planned projects coming online from 2010.

Global solar thermal cumulative installed capacity has grown from 354 MW (Megawatts) in 2001 to 697 MW in 2009 at a CAGR of 9% per annum. However, the planned projects that are coming online from 2010 onwards are anticipated to accelerate the CAGR to 46% per annum during 2010 to 2020. In 2020, the solar thermal power capacity is expected to reach at 122,252 MW from 2,715 MW in 2010.

The annual installations capacity is expected to witness a big surge in the coming decade, primarily due to the significant capacity additions in the US and Spain. Additionally, the capacity addition will be supported, as many other countries like Australia, China, the United Arab Emirates (UAE), Algeria and Italy are coming up with the CSP (Concentrated Solar Power) projects.

Global Solar Thermal Market, Cumulative Installed Capacity, MW, 2001-2020

Source: GBI Research

The US Solar Thermal Market – Large Scale Projects to Boost Installed Capacity

The US solar thermal market grew at a CAGR of 2% per annum from 2001 to 2009. However, the government encouragement for the sector is expected to lift CAGR to astonishing levels of 46% per annum for the period 2010 to 2020. The installations are expected to pick up pace as high capacity plants come online during the period.

California is expected to lead the CSP installations with almost nine projects with a capacity of more than 500 MW expected to come online during the period of which one project is having capacity of 1,000 MW. The sector growth will continue to be robust till 2020 as the RPS (Renewable Portfolio Standards) targets for the states will continue encouraging solar thermal power generation in the country.

Utilities Owned Projects – A Strategic Driver of CSP Installations

The utilities in the US are on a new endeavor that will act as a catalyst for the Solar Thermal Market installations. The utilities are considering the option to establish own solar thermal facility with grid connectivity in order to lure benefit of the extended ITC to the industry and hedging volatile energy prices scenario. Unlike Solar PV system, Solar Thermal technology has higher efficiency and higher potential to generate the base load power provided sufficient back up and storage facility.

During 2009, installations on the Utility side of the meter grew more than two and half time from the previous year. In 2008, the utilities side of meter was around 18 MW that reached to 65MW in 2009. By 2016 an estimated 16 GW plants are anticipated to come in service largely supported by the large scale installations and extension of PTC and ITC to the solar sector.

Spanish Solar Thermal Market – Envisions Bright Future through 2020

With the strong government backing to the CSP technology, the installed capacity is expected to leap during 2010 to 2020. The CSP installations are expected to cumulate at 44,515 MW in 2020 from 891 MW in 2010.

In 2010, the installed capacity is expected to increase more than three and half times as almost 13 50 MW projects are expected to be operated in the country. By 2011, the installations are expected to double from the levels of 2010, largely contributed by the installations of almost 27 50 MW plants.

Despite the regulatory cap on installations and the registry system in the country, installations are expected to surge, largely due to favorable feed-in tariffs. In light of the ambitious plans of the Spanish government to adhere to EU 2020 agenda, the Spanish CSP sector envisions bright future.

Asia and the Middle East – Future Hot Spots for CSP Market

The cumulative installation capacity in the hotspot destinations for the solar thermal market is anticipated to reach nearly 9,000 GWh, representing 7% of the global installed capacity in 2020. Among the destinations, the highest share (on a global basis) will be occupied by Australia (2.73%), UAE (1.69%), India (0.98%) and China (0.82%). By 2020, the overall cumulative installed capacity in these nations is projected to increase at a CAGR of 37% per annum from 2010 to 2020.

With the increase in the installations the power generation from the CSP technology in the emerging destinations is expected to grow at a CAGR of 42% during 2010 to 2020. The power generation in 2020 is expected to total at 35,096 GWh in these nations up from 1,035 MW in 2010.
[Studien Infos ausblenden]

1 Table of Contents 3
1.1 List of Tables 5
1.2 List of Figures 6
2 Introduction 7
2.1 Global Carbon Emission, Overview 7
2.2 Green stimulus: A crucial support to the Renewable Energy 9
3 Solar Thermal Power – An introduction to technology 11
3.1 Parabolic Trough System 11
3.2 Solar Tower System 12
3.3 Parabolic Dish System 13
3.4 Linear Fresnel Reflectors 13
4 Global Solar Thermal Market 14
4.1 Overview 14
4.2 Global Solar Thermal Market, Installed Capacity, MW, 2001-2020 14
4.3 Global Solar Thermal Market, Power Generation, MW, 2001-2020 17
4.4 Global Solar Thermal Market, Installed Capacities by country, 2009 19
5 Key Drivers and Challenges of the Solar Thermal Market 20
5.1 Key Drivers 20
5.1.1 Government support – a key determinant 20
5.1.2 Renewable Portfolio Standards – a CSP market catalyst 20
5.1.3 Financial Support – Booster for CSP investment 20
5.2 Key Challenges in the Solar Thermal Market 21
5.2.1 Grid Connectivity – a serious concern 21
5.2.2 Plant Cooling Requirements – Reducing Power Generation 21
6 Global Solar Thermal Market, Cost trends 22
6.1 Large scale installations to benefit through Economies of Scale 22
6.2 Investment cost to decline in long term 22
6.3 Aluminum Solar Trough Technology – A Step Forward to Reduce Solar Field cost 22
6.4 Power generation cost to decline 22
7 The US Solar Thermal Market – 2001 to 2020 23
7.1 Overview 23
7.2 The US Solar Thermal Market, Installed Capacity, MW, 2001-2020 23
7.3 The US Solar Thermal Market, Power Generation, GWh, 2001-2020 25
8 The US Solar Thermal Market, Utilities Trends, 2009 27
8.1 Utilities Owned Projects – A strategic driver of CSP installations 27
8.2 Utilities Eyeing CSP Plants with Storage Backup 28
8.3 Building and up gradation of New Transmission Lines 28
9 The US Solar Thermal Market – Regulatory framework 29
9.1 The US Renewable Energy Market – Major Policies 29
9.1.1 Overview 29
9.1.2 Federal Financial Incentives 29
9.1.3 State incentive Programs 33
9.2 The US Solar Thermal Power, Regulatory Framework – Major policies 35
9.2.1 The Solar America Initiative (SAI) 35
9.2.2 Investment Tax Credit 35
9.2.3 The US Solar Thermal, Financial Incentives, State Wise 35
10 Spain Solar Thermal Market, 2001-2020 41
10.1 Overview 41
10.2 Spain Solar Thermal Market, Installed Capacity, MW, 2001-2020 41
10.3 Spain Solar Thermal Market, Power Generation, GWh, 2001-2020 43
10.4 Spain Renewable Market, Regulatory Framework, Major Policies 44
10.4.1 Overview 44
10.4.2 Spain Renewable Market, Major Policies 44
10.5 Spain Solar Thermal Market, Regulatory Framework, Major Initiatives 46
10.5.1 Overview 46
10.5.2 Spain Solar Thermal Market, Major Regulations 46
10.5.3 Implications of New Subsidy Regime in Spanish CSP Market 47
11 Future Hot Spot for the Solar Thermal Market, 2010 to 2020 49
11.1 Overview 49
11.2 Solar Thermal Market, Future hot spots, Installed Capacity, Country Wise, MW, 2010 to 2020 49
11.3 Solar Thermal Market, Future Hot Spots, Power Generation, country wise, GWh, 2010 to 2020 51
12 Global Solar Thermal Market, Financial Deals, 2009-2010 53
12.1 Deals volume versus Deal Value Analysis, 2009-2010 53
12.2 Global Solar Thermal Market, Deals by Type, 2009 54
12.3 Global Solar Thermal Market, Major Deals, 2009-2010 56
12.3.1 Enel Completes Rights Offering Of $10 Billion 56
12.3.2 Solar Trust Of America Announces Project Financing Of $6,000 Million For Solar Thermal Power Plants, U.S. 58
12.3.3 Iberdrola Completes Debt Offering Of 5-Year Bonds for $1,894.83 Million 59
12.3.4 Enel Completes Private Placement Of 5.125% Senior Notes Due 2019 for $1.75 Billion 60
12.3.5 Eskom Holdings to Invest $805 Million in Upington Solar Power Plant, South Africa 61
12.3.6 Siemens Acquires 63% Stake in Solel Solar Systems 62
12.3.7 Siemens Energy Acquires Additional 17% Interest in Archimede Solar Energy 63
12.3.8 AREVA Acquires 100% Interest In Ausra 64
12.3.9 BrightSource Energy Announces Project financing of $1.37 billion for Ivanpah Solar Thermal Plant in California, the US 65
12.3.10 JSC Atomenergoprom Completes Bond Offering for $1,713.56 Million 66
13 Appendix 67
13.1 List of Abbreviation 67
13.2 Methodology 67
13.2.1 Coverage 68
13.2.2 Secondary Research 68
13.2.3 Primary Research 68
13.2.4 Expert Panel Validation 69
13.3 Contact Us 69
13.4 Disclaimer 69
[Inhaltsverzeichnis ausblenden]

1.1 List of Tables
Table 1: Global CO2 Emissions, Million Metric Tons, 2001-2009 8
Table 2: Global Green Stimulus packages by major countries, Amount ($bn) and % share of total stimulus, 2009 10
Table 3: Capital Cost Break up of Solar Trough System, % Share of Total Cost, 2009 12
Table 4: Capital Cost Break up of Solar Tower System, % Share of Total Cost, 2009 13
Table 5: Global Solar Thermal Market, Installed Capacity, MW, 2001-2020 16
Table 6: Global Solar Thermal Power Generation, GWh, 2001-2020 18
Table 7: Global Solar Thermal Market, Installed Capacity by Country, % Share, 2009 19
Table 8: The US Solar Thermal Market, Installed Capacity, MW, 2001-2020 24
Table 9: The US Solar Thermal Market, Power Generation, GWh, 2001-2020 26
Table 10: The US Solar Thermal Market, Proposed Cumulative Capacity Additions by Top Utilities, MW, 2010 to 2016 28
Table 11: The US, State Renewables Portfolio Standards and Policy Incentives, 2010 34
Table 12: Spanish Solar Thermal Market. Installed Capacity, MW, 2001-2020 42
Table 13: Spanish Solar Power Market, Power Generation, GWh, 2001-2020 43
Table 14: Spanish Solar Market, Feed-in Tariffs, € / kWh, 2007-2008 46
Table 15: Spanish Solar Market, New Feed-in Tariff, € / kWh, 2009 47
Table 16: Spanish Solar Market, Tax Rebate, By Year, 2008-2010 47
Table 17: Global Solar Thermal Market, Hotspot Destinations, Installed Capacity, MW, 2010 to 2020 50
Table 18: Global Solar Thermal Market, Hot Spot Destinations, Power Generation, GWh, 2010 to 2020 52
Table 19: Global Solar Thermal Market, Deal Volume versus Deal Value ($m) Analysis, 2004-2009 53
Table 20: Global Solar Thermal Market, Deal Volume by type, % share of total, 2009 54
Table 21: Global Solar Thermal Market, Deal Value by type, % share of total, 2009 55
Table 22: Enel Completes Rights Offering Of $10 Billion 56
Table 23: Solar Trust Of America Announces Project Financing Of $6,000 Million 58
Table 24: Iberdrola Completes Debt Offering Of 5-Year Bonds For $1,894.83 Million 59
Table 25: Enel Completes Private Placement Of 5.125% Senior Notes Due 2019 For $1.75 Billion 60
Table 26: Eskom Holdings To Invest $805 Million In Upington Solar Power Plant, South Africa 61
Table 27: Siemens Acquires 63% Stake In Solel Solar Systems 62
Table 28: Siemens Energy Acquires Additional 17% Interest In Archimede Solar Energy 63
Table 29: AREVA Acquires 100% Interest In Ausra 64
Table 30: BrightSource Energy Announces Project Financing Of $1.37 billion for Ivanpah Plant 65
Table 31: JSC Atomenergoprom Completes Bond Offering For $1,713.56 Million 66
1.2 List of Figures
Figure 1: Global CO2 Emissions, Million Metric Tons, 2001-2009 7
Figure 2: Global Green Stimulus packages by major countries, Amount and % share of total stimulus, 2009 9
Figure 3: Capital Cost Break Down of Solar Trough Systems, % Share of Total Cost ,2009 11
Figure 4: Capital Cost Break up of Solar Tower System, % share of Total Cost , 2009 12
Figure 5: Global Solar Thermal Market, Cumulative Installed Capacity, MW, 2001-2020 15
Figure 6: Global Solar Thermal Power Generation, GWh, 2001-2020 17
Figure 7: Global Solar Thermal Market, Installed Capacity by Country, % share, 2009 19
Figure 8: The US Solar Thermal Market, Installed Capacity, MW, 2001-2020 24
Figure 9: The US Solar Thermal Market, Power Generation, GWh, 2001-2020 25
Figure 10:The US Solar Thermal Market, Proposed Cumulative Capacity Additions by Top Utilities, MW, 2010 to 2016 27
Figure 11: Spanish Solar Thermal Market. Installed Capacity, MW, 2001-2020 41
Figure 12: Spanish Solar Power Market, Power Generation, GWh, 2001-2020 43
Figure 13: Global Solar Thermal Market, Hotspot Destinations, Installed Capacity, MW, 2010 to 2020 50
Figure 14: Global Solar Thermal Market, Hot Spot Destinations, Power Generation, GWh, 2010 to 2020 51
Figure 15: Global Solar Thermal Market, Deal Volume versus Deal Value ($m) Analysis, 2004-2009 53
Figure 16: Global Solar Thermal Market, Deal Volume by type, % share of total, 2009 54
Figure 17: Global Solar Thermal Market, Deal Value by type, % share of total, 2009 55
Figure 18: GBI Research Methodology 67
[Tabellenverzeichnis ausblenden]