to-the-point: CSP market to reach USD 8.9bn in 2025

CSP park. Image by Bureau of Land Management.

Sep 6 (Renewables Now) - The concentrated solar power (CSP) market globally is expected to grow to USD 8.92 billion (EUR 7.5bn) in 2025 from around USD 3.03 billion in 2016, according to Grand View Research Inc.

As with other renewables, CSP growth will be driven by the global effort to cut carbon footprint and greenhouse gas (GHG) emissions. The rise in electricity demand and rising investments to boost the efficiency index will also help.

The US, Spain and Morocco are some of the key markets for CSP currently. The US market is expected to grow by 18.9% over the forecast period. In Spain, the CSP market is to surpass USD 1.22 billion by 2025, while in Morocco it is to top USD 852.2 million.

(USD 1 = EUR 0.84)

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Browse all articles from Tsvetomira Tsanova

Tsvet has been following the development of the global renewable energy industry for almost nine years. She's got a soft spot for emerging markets.

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