Solar Thermal Collectors Market, By Type (Concentrating, Non-Concentrating, Flat Plate Collector, Evacuated Tube, Unglazed Water Collector, and Air Collector), By Application (Residential, Commercial, and Industrial), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Jul 2024

Code : CMI7169

Pages :135

Formats :

Excel and PDF

Industry : Energy

Market Concentration and Competitive Landscape

Solar Thermal Collectors Market Concentration By Players

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Affordability advantage over other clean alternatives

While solar photovoltaic remains the frontrunner in terms of overall investment in the renewables space, solar thermal technology offers a relatively more affordable solution for utilities and commercial establishments seeking to meet high hot water and process heat demands. Solar collectors provide heating at lower costs than wind or biomass projects of equivalent capacity. Even when compared to other solar technologies, solar thermal excels on the cost front for applications that require heat below 150°C. Recent technological enhancements have further narrowed the pricing gap with natural gas boilers and fuel oil-based systems. With raw material costs stabilizing and operational expenditures declining, solar thermal is increasingly completing on economics with conventional alternatives. This affordability aspect is convincing more industrial and commercial consumers who are looking to supplement their energy needs through renewable sources but on a tighter budget. As energy expenses continue their northward trend, solar thermal is poised to gain additional traction due to favorable life cycle cost profiling.

Key Players Insights