Global Solar Pond Market: Snapshot
Fossil fuel energy reserves are limited, and we may well have consumed first half of it. Moreover, greenhouse gases are posing gloomy future, wherein most of the pollution is caused by the use of fossil fuel. In this scenario, the world has come together to develop and depend on renewable sources of energy, among which solar energy is most extensively researched and adopted. These recent paradigm shifts have given considerable traction to the solar pond market, and we’ve seen several significant new installations across the world, particularly in the emerging economies such as India. The vastly populated country of India experiences ample of monsoon and sunshine through the year and a favorable government is opening new opportunities for the stakeholders of the global solar pond market.
This report on the global solar pond market offers quantitative and qualitative assessment of the current scenario and estimates the future scenario until 2025, based on in-depth analysis of all the factors that may influence the demand, positively or negatively. Some of the targeted audiences of this report on solar pond market are solar companies, market operators, distribution system operators, energy service companies, commercial and industrial customers, and national regulatory authorities. In order to project a picture of the global solar pond market, the report profiles a number of key companies involved, taking stock of their geographical presence and product portfolio. All the latest market developments have also been analyzed by the report, and recent trends have been tracked.
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Global Solar Pond Market: Overview
The advancement of the world solar pond market was stemmed by the dramatic rise in oil prices in the 1970s. This resulted in extensive research and development activities directed toward the exploitation of solar energy. Solar ponds consist of an integral heat storage system for the supply of thermal energy while also functioning as large-scale energy collectors. The solar pond technology is one of the most practical means of collecting solar energy.
Global Solar Pond Market: Segmentation
In respect of the construction parameter, the international solar pond market can be segmented into non-convective and convective solar ponds. The non-convective solar ponds category could include key segments such as membrane solar ponds, polymer gel layers solar ponds, and salinity gradient solar ponds. On the other hand, deep saltless ponds and shallow solar ponds form the convective solar ponds classification. The non-convective solar ponds help to control the occurrence of convection to reduce heat within the pond itself. Convective solar ponds prevent vaporization to reduce heat loss with the use of a cover built over the surface of the pond.
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Global Solar Pond Market: Opportunities
The demand for solar ponds is rising on the back of the inflating awareness about renewable energy resources and amplified adoption of solar as a practicable form of energy. The solar pond technology is able to effectively substitute fossil fuels for heat generation in a number of industries such as dairy and food canning.
If there is a lack of cheap salt in the region where solar ponds are installed, they could not be economical to use. Another restraint could be the contamination of ground water emerging as an environmental issue, which asks for additional precautions to be taken during the construction of solar ponds.
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However, the initial investment costs are low when compared to other sources of energy. Besides this, it is possible to generate energy on a large scale with the help of solar ponds. In developing nations, the solar pond technology can be very useful, especially in rural areas where lack of proper grid infrastructure restricts development.
Global Solar Pond Market: Geography
Asia Pacific is projected to be a significant market when it comes to the adoption of the solar pond technology. The region has witnessed a colossal number of experimental projects successfully installed. This is on account of the aggressive renewable energy targets and rising energy requirements of the Asia Pacific economies. North America and Europe have also witnessed a large number of experimental projects established. However, the Rest of the World has exhibited a comparatively lower market share in terms of the overall adoption of the solar pond technology.
Few of the key players that are likely to make a statement in the global solar pond market are Geo-Eng Australia Pty Ltd., Pyramid Salt Pty Ltd., Solvay, Arava Power, and University of Texas. The construction of solar ponds is taken seriously by research institutes alongside solar technology firms. Although, currently, there are not many companies involved in solar pond technology, more players are expected to enter the global market.