Photovoltaics market to grow to $1.6 billion in 2017


High-concentrating photovoltaics (HCPV) – a decades-old technology to tap more of the sun’s energy than other solar methods – is poised to finally hit its stride with a 31% compound annual growth rate until 2017.

That’s according to a Lux Research report – which predicts the growth will be driven by emerging markets with high solar resources.

The report continues and predicts the market for HCPV will grow to 697 MW in 2017, creating a system market worth $1.6 billion and a module market worth $700 million, reaching a system price of $2.33/W.

This boom in HCPV could have a positive effect on the industrial gas market as it is used in the production of many components used in the construction of solar panels.

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