Global CSP capacity forecast to hit 22 GW by 2025

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New CSP capacity is expected to dip in 2016 and bounce back in 2017 to resume steady growth over the next decade as national energy policies stabilise market conditions, according to the newly released CSP Today Markets Forecast Report: 2015-2025. The CSP industry has come a long way over the last 10 years, demonstrating the technology’s use for a wide range of applications and reinforcing the value of CSP with energy storage in developed and emerging markets.

Global installed CSP capacity has gone from 355 MW in 2005 to more than 4.7 GW in 2015 and the market should reach 5 GW by the end of 2015, according to current project schedules. In the short-term, uncertain national energy policies and decreasing PV prices will put pressure on CSP installation rates and this will result in a temporary drop in 2016, according to the CSP Today report. However, in 2017 activity should once again pick up, with 1.2 GW of new installed capacity set to come online and in 2018 there will be even stronger growth, partly due to large projects announced in Tunisia, Egypt and Kuwait.

FuturENERGY
In subsequent years, the Markets Forecast Report anticipates a steadier growth, bolstered by more robust policies and ambitious renewable energy targets. The report predicts significant growth in global CSP capacity, rising from the current 4.7 GW to reach a capacity of between 10 GW and 22 GW by 2025, reflecting pessimistic, conservative and optimistic scenarios. Read more…

Article published in: FuturENERGY November 2015