TYN(SZ:000591) Chan Ye Xin Xi Wang·2025-07-19 02:36Core Viewpoint - The solar thermal power generation (CSP) industry in China is experiencing significant growth, with a projected increase in installed capacity and advancements in technology, despite previous setbacks due to policy changes [1][12]. Group 1: Overview of Solar Thermal Power Generation - Solar thermal power generation (CSP) utilizes a concentrating system to focus sunlight, heating a working medium (usually molten salt or thermal oil) to produce high-temperature steam that drives turbines for electricity generation [1][2]. - CSP is categorized into different technologies, including parabolic trough, tower, linear Fresnel, and dish-Stirling systems, each with distinct characteristics and efficiencies [4][2]. - Compared to conventional thermal power, CSP offers environmental advantages due to its reliance on clean solar energy, along with superior operational flexibility and efficiency [2][4]. Group 2: Installed Capacity and Market Trends - As of the end of 2024, China's cumulative installed capacity for solar thermal power reached 838.2 MW, accounting for 10.6% of the global total, with a year-on-year increase of 2.8 percentage points [12][14]. - The majority of China's solar thermal projects are tower-based, comprising 57.38% of the total, followed by parabolic troughs at 22.67% and linear Fresnel systems at 19.92% [14][16]. - By the end of 2024, 19 solar thermal projects were operational in China, with four new projects adding a capacity of 250.2 MW [16][12]. Group 3: Future Development Trends - The solar thermal power industry in China is expected to see increased domestic production of key components to reduce reliance on imports, enhancing the stability and security of the supply chain [19]. - Companies are likely to innovate applications by integrating solar thermal systems with traditional thermal power plants, enabling a reduction in coal consumption while maintaining output [19]. - Ongoing research and development will focus on advanced technologies such as wide-temperature-range molten salts, liquid metal storage media, and the combination of tower CSP with supercritical carbon dioxide power generation [19].