According to the International Renewable Energy Agency (IRENA), global installed solar power currently stands at 390 GW. Of that figure, 385 GW is solar PV, while the remaining 5 GW comprises concentrated solar power (CSP).
While installed solar PV capacity vastly outpaces CSP, it must be noted that the majority of the 5 GW of CSP capacity is already coupled with storage, whereas PV+storage is a comparatively nascent industry. Furthermore, there are conditions where the business case for CSP makes more sense, when compared to PV.
And as more and more solar installations are being collocated with some form of energy storage technology, CSP combined with molten salt thermal storage is a growing industry. Indeed, according to the U.S. Department of Energy, grid-tied molten salt storage volumes, worldwide, were higher than grid-tied battery volumes at the midway point of 2017, outperforming electrochemical storage by 600 MW of power output, delivering 2.5 GW compared to batteries’ 1.9 GW of energy storage.
In this webinar, we shall discuss the types of projects that are most suitable for solar PV + electrochemical storage solutions, and also which projects are better off exploring the CSP + molten salt storage space.
It will further address the financial benefits driving the decision to either choose CSP + thermal storage or solar PV + battery, particularly in markets where subsidy support and incentives still exist for certain technologies.
- In which type of climate is CSP + molten salt storage a viable option?
- PV installation volumes are far greater than CSP, because the former is more financially attractive – how do these figures look, though, when storage solutions (Molten Salt & Battery) are added?
- What countries and regions currently offer attractive storage subsidies, and how do they support the growth of collocated PV + battery arrays?
- How are the two types of storage solutions proving their worth to the grid?
- What are the duration cycles for each technology, and where can they be best applied?
- What does the future pricing and installation landscape look like for each type of technology?
Questions can be submitted beforehand or during the webinar through a chat window. We look forward to your participation.