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Figure 2.12 Global ocean power capacity forecasting.

      PV systems are described by two main types: off‐grid and grid‐connected applications. Off‐grid PV systems have a substantial opportunity for economic application in un‐electrified regions of developing countries, and off‐grid centralized PV mini‐grid systems. Centralized PV mini‐grid systems have the potential to be one of the most cost‐efficient for a pre‐defined level of service, and they could have a diesel generator set as an optional balancing system or to function as a hybrid PV‐wind‐diesel system. These types of system are applicable for decreasing and refraining from utilizing the diesel generator in remote regions [43].

      Grid‐tied PV systems utilize an inverter to transform electrical current from DC to AC and, after that, supply the electrical power produced to the grid. Relative to an off‐grid installation, system costs are lower due to the fact that energy storage is not needed because the grid is utilized as a buffer. Grid‐connected PV systems are described as two types of applications: distributed and centralized. Grid‐connected distributed PV systems are employed to deliver electric energy to a grid‐connected consumer or to the electric network. These systems have several advantages that include: distribution losses in the electric network are decreased because the system is installed at the point of use; additional land is not needed for the PV system, and prices for mounting the systems can be decreased if the system is mounted on an existing structure; and the PV array itself could be utilized as a cladding or roofing material, as in building‐integrated PV. Usual sizes are 1–10 kW for residential systems, and 10 kW to several MWs for rooftops on public and industrial buildings. Grid‐connected centralized PV systems implement the functions of centralized power stations. The power generated by this system is not related to a particular electricity consumer, and the system is not positioned to perform certain functions on the electricity network other than to produce bulk power. Usually, centralized systems are installed on the ground, and they are greater than 1 MW. The economic benefits of these systems are the optimization of installation and operating costs by bulk buying and the cost‐effectiveness of the PV elements and balance of systems on a large scale. Furthermore, the reliability of centralized PV systems can be better than distributed PV systems as they can implement maintenance systems with monitoring equipment, which could be a smaller section of the total system cost [44].

During 2019, approximately 115 GW of solar PV capacity was installed globally, making the global solar PV capacity arrive at a value of 627 GW. More solar PV capacity was installed in 2019 (up 44% over 2015) than the cumulative world capacity five years earlier [45]. The PV market was multiplied by almost 40 in 10 years, as illustrated in Figure 2.13. The global market expansion is due to the rising competitiveness of solar PV, and to new government programs, higher demand for electrical energy and increasing awareness of solar PV's potential to hinder pollution and carbon dioxide emissions. Figure 2.14 shows the solar PV capacity in the top 10 countries in 2019. Solar PV plays a vital role in electrical energy production in many regions around the world. In 2019, solar PV was responsible for 10.7% of net production in Honduras and met 8.6% of the electricity demand in Italy, 8.3% in Greece and 8.2% in Germany. A minimum of 22 countries had sufficient solar PV capacity at the end of 2019 to meet 3% or more of their electrical energy need [12]. Furthermore, the levelized cost of electricity (LCOE) of solar PV fell 58% between 2010 and 2015, making it extremely competitive at the utility scale. While demand is increasing at a fast pace for off‐grid solar PV, the capacity of grid‐connected systems is increasing much faster. Distributed (residential, commercial and industrial rooftop systems) grid‐connected applications have struggled to ensure a stable global market since 2011, while the centralized largescale projects were associated with the increasing share of yearly installations, as illustrated in Figure 2.15. The IRENA estimates that solar PV capacity could increase to 1760 GW in 2030; reaching this capacity by 2030 needs an average yearly rise of a total capacity of 15%. IRENA approximates that solar PV might be responsible for 7% of global electrical energy generation by 2030 [11].

Figure 2.13 Global integrated solar PV capacity from 2000 to 2019.

Figure 2.14 Solar PV global capacity by top 10 countries in 2019.

      2.2.5.2 Concentrated Solar Power

      Concentrated Solar Power (CSP) is a power generation technology that uses mirrors or lenses to direct sunlight onto a receiver, which gathers and transmits the solar energy to a heat transfer fluid that could be utilized to supply heat for end‐use applications or to heat a fluid and generate

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