Concentrated Solar Power (CSP) reaches the greatest reduction in clean energy costs

cerrro nueva

• A report from the International Renewable Energy Agency (Irena) presented a study of the costs of renewable energies during 2020
• CSP technology lowered its average prices worlwide by 16% and in 10 years accumulates drops of 68%.

Concentrated solar power (CSP) generation costs decreased by 16% during 2020, according to a report delivered by the International Renewable Energy Agency, Irena.  This technology felt in the highest percentage compared to other clean forms of generation.
Irena’s data showed that the costs of renewable energies continue their downward trend, which has already accumulated ten years of decline. In the 2020 report, CSP stood out with 16%, followed by onshore wind with 13%, offshore wind with 9% and photovoltaic with 7%.
With these data, according to Irena, the CSP accumulates a cost reduction of 68% in the decade 2010-2020. In addition, the report indicates that in 2020, 150 MW in CSP came into operation.
The International Agency study highlights that there is optimism regarding the technology thanks to China’s plans to expand the technology domestically and the installation of new projects in Chile and the United Arab Emirates.
“For the Solar Power Concentration Association (ACSP), these data show that CSP technology will play an important role in the world’s energy transition and we bet that costs will continue to decline,” said Cristián Sepúlveda, ACSP executive manager.
In Chile, CSP is a key technology in the decarbonization process, especially in the face of plans to accelerate the retirement of coal-fired plants, since it has the necessary attributes to provide stability to the National Electric System. Cerro Dominador is the first CSP tower plant in the country and in Latin America and more projects are expected to be completed in the coming years.