China leads global growth in concentrated solar power capacity

(ECNS) - China has become one of the world's leading sources of newly added concentrated solar power (CSP) capacity, with 24 projects totaling 2.1 gigawatts in operation and another 26 projects with 3.2 GW under construction, according to data released by the China Electricity Council.

The country ranks second globally in installed CSP capacity but is driving most new project development, the industry group said.

Zhang Lin, director of the council's planning and development department, said CSP and photovoltaic power are complementary technologies rather than direct substitutes because CSP plants can store thermal energy and provide dispatchable electricity.

China has achieved more than 95% domestic sourcing of CSP equipment and key technologies, according to the council.

Industry data showed CSP project costs have fallen from about 30,000 yuan ($4,180) per kilowatt a decade ago to around 15,000 yuan today, while electricity tariffs have roughly halved.

China aims to increase CSP capacity to 15 GW by 2030, according to a development plan of the council.

(By Zhang Jiahao)