Concentrated solar power Market Outlook — Forward-looking assessment of CSP adoption, investment, and policy impacts over the forecast horizon.

The Concentrated Solar Power Market Outlook is positive, though it faces competition from the rapidly falling costs of battery storage paired with PV. However, CSP’s unique ability to provide power for long durations—often up to 12 hours or more—at a massive scale gives it a distinct advantage in supporting grid stability. As grids worldwide integrate higher and higher proportions of intermittent renewables, the demand for long-duration energy storage will increase, creating a strong business case for CSP.

While its market share may remain smaller than that of PV, its strategic importance is set to grow. The future of CSP will likely focus on continued cost reduction, technological advancements in receivers and storage, and strategic deployment in regions where grid stability is a top priority. 

While photovoltaic (PV) solar panels have become a common sight on rooftops and in large fields, another solar technology is quietly playing a crucial role in the global energy transition: concentrated solar power (CSP). Unlike PV, which converts sunlight directly into electricity, CSP systems use mirrors to concentrate a large area of sunlight onto a small receiver.

This concentrated energy heats a fluid, which is then used to create steam to drive a turbine, generating electricity. What makes CSP particularly compelling is its ability to store thermal energy for use after the sun sets, making it a reliable source of dispatchable power. This discussion will explore the Concentrated Solar Power Market and its defining technologies.