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

China's installed CSP capacity grew at an annual compound rate of 11.7 percent between 2020 and 2024, significantly higher than the global rate of 4.24 percent over the same period, according to data released by the China Electricity Council.

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

CSP technology, which uses mirrors to concentrate solar energy to heat a fluid that drives a turbine, has the unique advantage of built-in thermal energy storage. This allows it to generate 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 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 projects, demonstrating the industry's rapid pace of development.

According to Ding Yeliang, deputy general manager of CGN New Energy Holdings Co Ltd, construction costs will decline further during the 15th Five-Year Plan period (2026-30), which will significantly enhance the industry's competitiveness.

Benefiting from rapid technological iteration and the realization of scale effects, China has nearly halved the on-grid price for concentrated solar power, said the company.

China's CSP industry is poised to seize this opportunity, leveraging its technological leadership and massive domestic build-out to embark on a new journey in clean energy development, it said.

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.