Abstract
Concentrated photovoltaics (CPV) is a dawn technology in the field of photovoltaic that helps in escalating the effective use of solar energy. Nowadays, applications of photovoltaic solar cells are catching attention due to the better utilization of solar energy. A huge amount of solar energy is received by the earth from the sun, but a barrier to the large-scale use of photovoltaic solar cells is their higher initial cost and lower conversion compared to other non-renewable energy systems. Concentrated Photovoltaics (CPV) is one of the vital tools that focus solar radiation on the small area of solar cells using optical devices to maximize solar to thermal conversion. Low cost, high efficiency, and climate-friendly are the main advantages of concentrated photovoltaics. The review study presents the outlook of work conducted worldwide on the different types of concentrated photovoltaics. In addition, the effect of various performance affecting parameters, challenges, and recent progress is also part of the study. Most of the CPV have efficiency up to 15% while some have an efficiency range of 25-28% which is still very low. It was found that the CPV gave maximum efficiency of up to 38.5% at optimal solar radiation. The focus of sunlight on a small area of solar cell increases the temperature of concentrated photovoltaic allegedly pernicious for electrical efficiency and the life of CPV. Factors like direct normal irradiance, high cell temperature, soiling, optical design, reliability, and durability are considered as challenges and a concise summary of various studies on these challenges is presented. In this regard, various cooling techniques have been investigated by different researchers for thermal management of CPV systems which are discussed in detail. As CPV technology is still in the development phase, various new optical designs emphasizing novel designs and materials are also summarized in the current study. Finally, some recommendations are oriented which will be very valuable for those who are working or want to work in the field of photovoltaics.