Higher energy yield (kWh/installed kW) primarily attributed to the use of tracking systems. When utilized in areas with high DNI, this can be a significant effect, providing lower cost of electricity even for products with higher $/W cost.
Higher efficiency, allowing smaller module area; in some cases, CPV requires less than half the module area to deliver the same power.
Lower capital investment because of the reduced use of semiconductor material compared with flat-plate silicon; this reduces risk for the investor and allows more rapid adjustment of plans based on changing markets.
Excellent performance in late afternoon when energy costs are typically the highest.
Qualitatively different solar solution that complements low-efficiency systems and contributes to a strong technology portfolio for solar, especially for the sunniest locations.
Renewable electricity source with a cost that can already compete with conventional electricity sources (grid parity) in some locations.
Easy, flexible, modular installation in sizes ranging from kilowatts to multiple megawatts.
Low maintenance, typically just de-soiling of panels.
Little or no environmental impact with rooftop CPV.
Low carbon intensity makes CPV the green choice.
Fast energy payback in less than a year in some case.