Forecast of Global Concentrated Photovoltaic (CPV) Market 2023

Global market for Concentrated Photovoltaic (CPV) is expected to grow at a CAGR of roughly 7.3% over the next five years, will reach 970 million US$ in 2023, from 640 million US$ in 2017, according to a new study. Concentrated Photovoltaic (CPV) is a photovoltaic technology that generates electricity from sunlight. Contrary to conventional photovoltaic systems, it uses lenses and curved mirrors to focus sunlight onto small, but highly efficient, multi-junction (MJ) solar cells.