China's concentrated solar power (CSP) industry is accelerating its pace of industrialization and scale-up, with growth rates far surpassing the global average and domestic technology localization reaching near-full self-sufficiency.

From 2020 to 2024, China's installed CSP capacity grew at an annual compound rate of 11.7 percent, significantly higher than the global growth rate of 4.24 percent over the same period, according to figures from the China Electricity Council.

This rapid expansion positions China as a dominant force in the global clean energy transition, it said.

CSP technology harnesses solar energy by using mirrors to concentrate sunlight and heat a fluid that drives a turbine. Its unique advantage lies in built-in thermal energy storage, enabling the generation of dispatchable power—providing grid stability by supplying electricity even when the sun is not shining—a feature essential for national energy security.

According to Yang Kun, executive vice-chairman of the council, China's installed CSP capacity reached 1.57 million kilowatts (kW) across 21 power stations by the end of September, placing it third globally.

Crucially, the country currently has 30 CSP projects under construction, representing a massive 3.10 million kW of capacity. This makes China the primary contributor to new CSP installations worldwide, he said.

The rapid iteration of technology and the emerging scale effect have led to a continuous decline in project construction costs, with China's domestic content rate for CSP technology and equipment now exceeding 95 percent.

Leading enterprises are playing a central role in achieving technological self-reliance. China General Nuclear Power Corp (CGN), for instance, is accelerating key integrated solar thermal and storage project, demonstrating the industry's rapid pace of development.

CGN New Energy Holdings Co Ltd anticipates that construction costs will decline further during the 15th Five-Year Plan period (2026-2030), which will significantly enhance the industry's global competitiveness.

Looking ahead, forecasts indicate robust global growth for the sector. Global CSP installed capacity is expected to increase to 22.4 million kW by 2030. By 2050, solar thermal power is projected to account for approximately 10 percent of the world's electricity supply.