Solar Power Generation

Solar Power Generation

Brief Excerpt from Industry Overview Chapter:

Companies in this industry operate power generation facilities that use energy from the sun to produce electric energy. Major companies include diversified electric utilities and independent producers Berkshire Hathaway Energy, NextEra Energy, Pacific Gas and Electric, Southern California Edison, and TerraForm Power (all based in the US); as well as Beijing Enterprise Holdings Limited (Hong Kong), Enerparc (Germany), Lightsource BP (UK), and SPIC (China).

COMPETITIVE LANDSCAPE

As with other power sources, demand for solar power is driven by residential, commercial, and industrial electricity demand, which increases with population and economic growth. Additionally, growing concern over environmental and geopolitical issues surrounding fossil fuels has boosted interest in renewable energy sources such as solar.

PRODUCTS, OPERATIONS & TECHNOLOGY

The major services offered by solar producers are largely composed of electricity generation at about 99% of the industry revenue. Other services offered by solar producers include electricity generation (except waste energy production) and non-hazardous waste energy services. Solar producers use two technologies to convert energy from the sun into electricity: photovoltaic (PV) power and concentrated solar power (CSP). PV cells convert solar energy directly into electricity, while CSP devices concentrate energy from the sun's rays to heat a receiver to high temperatures. This heat is transformed first into mechanical energy (by turbines or other engines) and then into electricity.