PUBLISHER: Visiongain | PRODUCT CODE: 1742448
PUBLISHER: Visiongain | PRODUCT CODE: 1742448
The global Concentrated Solar Power (CSP) market is projected to grow at a CAGR of 6.9% by 2035.
The Concentrated Solar Power (CSP) Market Report 2025-2035 (Including Impact of U.S. Trade Tariffs): This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
As the global energy sector transitions towards a more sustainable and diversified future, concentrated solar power (CSP) technology has emerged as a vital component of the renewable energy mix. Unlike photovoltaic (PV) systems that generate electricity directly from sunlight, CSP utilizes mirrors or lenses to concentrate solar radiation, producing heat that can be converted into electricity through turbines. The ability of CSP to incorporate thermal energy storage provides a distinct advantage in addressing intermittency challenges, enabling dispatchable power generation. This report explores five primary factors driving the growth and development of the global CSP market, offering a detailed examination of their influence and interconnectivity in shaping market dynamics.
Rising Demand for Dispatchable Renewable Energy
One of the most significant factors propelling the CSP market is the increasing demand for dispatchable renewable energy. As countries accelerate the integration of intermittent sources like wind and PV solar, grid stability and energy reliability have become critical concerns. CSP,Aos unique ability to store thermal energy for several hours-often up to 15 hours-using molten salt or other storage mediums, enables it to deliver electricity during peak demand periods or when solar irradiation is low. This feature positions CSP as a strong contender in energy systems that require firm and flexible generation.
For instance, the Noor Ouarzazate Solar Complex in Morocco, developed by ACWA Power, combines CSP with thermal storage, supplying power well into the evening. Similarly, the Crescent Dunes Solar Energy Project in Nevada, operated by SolarReserve, was designed with 10 hours of thermal storage, showcasing CSP,Aos role in achieving baseload capacity. As power systems become increasingly decarbonized, the demand for such dispatchable renewables is expected to intensify, strengthening CSP,Aos value proposition.
High Capital Costs and Financing Difficulties
One of the most persistent barriers to CSP development is the high upfront capital cost associated with the construction and deployment of CSP plants. Unlike PV systems, which have witnessed rapid cost declines due to mass manufacturing and modular deployment, CSP projects involve complex infrastructure, including heliostat fields, heat transfer systems, and thermal energy storage units. These components require significant engineering, procurement, and construction efforts, often translating into capital costs exceeding USD 5,000 per kilowatt-substantially higher than that of utility-scale PV or wind projects.
Securing financing for such high-CAPEX ventures remains difficult, especially in emerging markets where perceived risks-ranging from currency volatility to regulatory uncertainty-add further layers of complexity. Even with support from development banks such as the World Bank and regional institutions like the African Development Bank, CSP projects are often subjected to long financial closure periods. For instance, the Noor Midelt project in Morocco, developed by ACWA Power, faced delays due to financing hurdles, despite a hybrid CSP-PV design intended to reduce overall costs. This economic constraint limits market penetration, especially in countries lacking strong creditworthiness or access to concessional finance.
What would be the Impact of US Trade Tariffs on the Global Concentrated Solar Power (CSP) Market?
The U.S. Department of Commerce announced substantial tariffs on solar panel imports from Cambodia, Malaysia, Thailand, and Vietnam, with rates ranging from 250% to as high as 3,521%. These measures stem from investigations into alleged dumping and unfair subsidies by Chinese-backed manufacturers operating in Southeast Asia. While the primary focus is on photovoltaic (PV) modules, the ripple effects extend to the concentrated solar power (CSP) sector, which relies on similar supply chains for components like mirrors, receivers, and thermal storage systems. The tariffs aim to bolster domestic solar manufacturing but may inadvertently disrupt global supply chains, leading to increased costs and reduced availability of essential components. Southeast Asia, a significant manufacturing hub, faces potential job losses and economic challenges due to decreased exports. Simultaneously, U.S. solar developers might encounter project delays and higher expenses, potentially slowing the nation's renewable energy transition.
What Questions Should You Ask before Buying a Market Research Report?
You need to discover how this will impact the concentrated solar power (CSP) market today, and over the next 10 years:
Segments Covered in the Report
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 25 leading national markets:
The report also includes profiles and for some of the leading companies in the Concentrated Solar Power (CSP) Market, 2025 to 2035, with a focus on this segment of these companies'operations.
Overall world revenue for Concentrated Solar Power (CSP) Market, 2025 to 2035 in terms of value the market will surpass US$5,903.8 million in 2025, our work calculates. We predict strong revenue growth through to 2035. Our work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.