In the context of achieving Net Zero targets, the adoption of compound parabolic concentrator (CPC) technology can play a vital role. The purpose of this work is to modify the design of a conventional CPC in such a way that for the same concentration ratio, and for same aperture area, the modified CPC (MCPC) will require significantly less material for its support structure, receiver and reflector: and hence will have reduced cost. The MCPC, we designed, has a concentration ratio of 4 and an acceptance angle 10° and requires position modification only once a month when oriented with its long axis along the East-West direction. We report experiments on an experimental prototype: the solar-to-thermal efficiency of which was 35.7% and cost of which was below $60/m2. This MCPC enables inexpensive and convenient generation of heat applications including driving low temperature industrial process heating, generation of hot water, hot air for drying, space-heating and even cooking. This can directly contribute to meeting Net Zero goals and furthermore address the problem of deforestation due to use of wood for domestic cooking. Also, since the MCPC can be manufactured using technologies available even in semi-urban regions of the Sun-belt, use of the MCPC can also boost local manufacturing economies providing dignified employment opportunities in currently underserved parts of the world.