Technical challenges and market opportunities for thermal management of concentrated photovoltaics, CPV, are discussed. An overview of the current status and projected advancement of the CPV technology is provided, and many of the fundamental issues associated with employing advanced thermal solutions in the future CPV applications at higher concentrations are addressed. Using a case-example, the economics of cooling high-concentration photovoltaics is analyzed. A parametric study is carried out for a number of variables under different scenarios, and the sensitivity of the net gains that can be realized by employing an advanced thermal solution is presented. It is concluded that a proper thermal management plays a vital role in reducing the total cost of ownership per watt of electricity generated through improving two parameters: the efficiency and the reliability.
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