In this paper, analyses of the heat exchanges in the C.P.C. collector, including axial heat transfer in the receiver, are presented. An explicit expression of the temperature of the heat transfer fluid as a function of the space co-ordinate in the flow direction and the time dependent solar intensity is developed. Then, the effect of various parameters, such as the inlet heat transfer fluid temperature and the mass flow rare, on the dynamic behaviour of the collector is studied. The predicted results were also compared with experiments.