Yes there are some limitations: Wavelength Spectrum and Incidence angle modifier will be a major challenge (for any simualtor). Things are rather different for PV and for solar thermal!
The ISO 9806 standard for testing solar thermal collectors is currenly under revision and there will some new restrictions for simulators in general! To get the draft already now, you have to become member of ISO TC180 (get in touch wih the Department of Standards Malaysia, DSM. I am not allowed to distribute.
Why not using natural sun? There is nothing like the sun...