Concentrated Solar Power (CSP) has re-emerged as a strategically significant renewable energy technology due to its inherent capability for large-scale dispatchable power generation and high-temperature thermal energy utilization. Unlike photovoltaic systems, CSP integrates optical concentration, thermal conversion, and energy storage, enabling flexible operation aligned with grid demands and industrial heat requirements. This article presents a comprehensive, theory-driven, and literature-grounded analysis of CSP technologies with particular emphasis on power tower systems, solar selective absorber coatings, material durability, and sustainability performance across global value chains. Drawing strictly on the provided references, the study synthesizes advancements in spectrally selective coatings, nanocermet structures, ceramic–metal composites, and high-temperature materials compatibility, while situating these innovations within broader environmental, economic, and social sustainability frameworks. The methodology adopts an integrative qualitative research design based on comparative theoretical interpretation, cross-study synthesis, and descriptive analytical reasoning. Results indicate that performance improvements in CSP are increasingly driven by materials science breakthroughs and system-level optimization rather than optical geometry alone. The discussion critically evaluates aging mechanisms, lifecycle sustainability impacts, and techno-economic trade-offs, highlighting unresolved challenges related to cost reduction, energy poverty mitigation, and large-scale deployment under climate constraints. The article concludes by positioning CSP as a pivotal technology in long-term decarbonization pathways, contingent upon coordinated advances in materials engineering, system integration, and policy support.