A 2014 independent market analysis projected that the global CSP market will see “phenomenal growth at a 19.4% CAGR [compound annual growth rate] between 2014 and 2020.” A global CSP market that was worth $2.5 billion in 2013 would hit nearly $8.7 billion by the end of 2020…But once solar PV hits 10 to 15 % of annual electric generation in a region, PV can become less valuable. IEA projects that when that occurs, perhaps around 2030, “Massive-scale [solar thermal electric] deployment takes off at this stage thanks to CSP plants’ built-in thermal storage, which allows for generation of electricity when demand peaks in late afternoon and in the evening, thus complementing PV generation.”

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