2050 LCOE improvement using new molten salts for thermal energy storage in CSP plants

Parrado, C.; Marzo, Aitor; Fuentealba, Edward; Fernández, Ángel G.

doi:10.1016/j.rser.2015.12.148

Cited by 87 publications

(27 citation statements)

References 21 publications

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“…Due to no fuel consumption, the O&M costs are very low and usually account for about 2% of construction costs [29]. Besides, it is necessary for CSP projects to adopt an insurance measure to decrease the risks caused by high initial investment and immature technology; the ratio between insurance expense and construction costs is considered to be 0.5% [14,30].…”

Section: Resultsmentioning

confidence: 99%

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Cost-Benefit Analysis for the Concentrated Solar Power in China

Yang

Zhu

Guo

2018

Journal of Electrical and Computer Engineering

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In 2016, the first batch of concentrated solar power (CSP) demonstration projects of China was formally approved. Due to the important impact of the cost-benefit on the investment decisions and policy-making, this paper adopted the static payback period (SP), net present value (NPV), net present value rate (NPVR), and internal rate of return (IRR) to analyze and discuss the costbenefit of CSP demonstration plants. The results showed the following.(1) The SP of CSP systems is relatively longer, due to high initial investment; but the cost-benefit of CSP demonstration plants as a whole is better, because of good expected incomes. (2) Vast majority of CSP projects could gain excess returns, on the basis of meeting the profitability required by the benchmark yield of 10%. (3) The cost-benefit of solar tower CSP technology (IRR of 12.33%) is better than that of parabolic trough CSP technology (IRR of 11.72%) and linear Fresnel CSP technology (IRR of 11.43%). (4) The annual electricity production and initial costs have significant impacts on the cost-benefit of CSP systems; the effects of operation and maintenance costs and loan interest rate on the cost-benefit of CSP systems are relatively smaller but cannot be ignored.

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Section: Resultsmentioning

confidence: 99%

“…Annual generation electricity ( ) S e e T a b l e 1 Construction costs ratio (C) [26] 96% Insurance expenses ratio (I) [14,30] 0.5% Construction period ( 0 ) [28] 2 years Depreciation period [22] 15 years Discount rate ( ) [31] 10% Income tax rate ( income ) [22] 15% Loan ratio [28] 80%…”

Section: Cost-benefit Evaluationmentioning

confidence: 99%

Cost-Benefit Analysis for the Concentrated Solar Power in China

Yang

Zhu

Guo

2018

Journal of Electrical and Computer Engineering

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“…The average lifetime levelized cost of electricity (LCOE) is determined for different values of SM [27]. An economic assessment which has been used to compare the costs of electric energy production according to the different values of SM is considered.…”

Section: Economic Analysismentioning

confidence: 99%

Techno-Economic Assessment of Heat Transfer Fluid Buffering for Thermal Energy Storage in the Solar Field of Parabolic Trough Solar Thermal Power Plants

2017

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Currently, operating parabolic trough (PT) solar thermal power plants, either solar-only or with thermal storage block, use the solar field as a heat transfer fluid (HTF) thermal storage system to provide extra thermal capacity when it is needed. This is done by circulating heat transfer fluid into the solar field piping in order to create a heat fluid buffer. In the same way, by oversizing the solar field, it can work as an alternative thermal energy storage (TES) system to the traditionally applied methods. This paper presents a solar field TES model for a standard solar field from a 50-MW e solar power plant. An oversized solar model is analyzed to increase the capacity storage system (HTF buffering). A mathematical model has been developed and different simulations have been carried out over a cycle of one year with six different solar multiples considered to represent the different oversized solar field configurations. Annual electricity generation and levelized cost of energy (LCOE) are calculated to find the solar multiple (SM) which makes the highest solar field thermal storage capacity possible within the minimum LCOE.

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“…Synthetic oil (SO), eg, VP-1, is widely used as HTF in PT-CSP systems, eg, SEGS series in California, USA, in 1980s and Andasol series in Aldiere, Spain, in 2000s. 10 Therefore, MS is only suitable for high-temperature working conditions. Besides, to further increase the efficiency, other types of HTF are introduced, eg, molten salts (MS, normally 60% NaNO 3 + 40%KNO 3 , also called solar salt) and water/steam.…”

Section: Introductionmentioning

confidence: 99%

Comprehensive assessment of line-/point-focus combined scheme for concentrating solar power system

2018

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Summary The line‐/point‐focus combined scheme for concentrating solar power (CSP) system is proposed. For solar field, the parabolic trough (PT) or linear Fresnel (LF) is used as the line‐focus preheating and evaporation stages while the solar tower is used as the point‐focus superheating and reheating stages. The combined schemes benefit from the high concentration ratio of point‐focus technology and low cost of line‐focus technology. Particularly, the combined scheme guarantees the concentrated solar thermal energy matching the temperature requirement of steam generation process with less exergy loss. Performance and economic assessments have been performed for 50 MWe CSP system with two of the combined schemes, ie, PT (synthetic oil, SO) + Tower (molten salt, MS) and LF (direct steam generation, DSG) + Tower (DSG), as well as existing single schemes being the references, ie, PT (SO), LF (DSG), Tower (MS), and Tower (DSG). The comparative results show that the combined schemes are superior to liner‐focus schemes in efficiency and to point‐focus schemes in capital cost and scalability. Specifically, the PT (SO) + Tower (MS) system suggests the favorable potential in practical application with the highest annual net solar‐to‐electrical energy conversion efficiency of 16.07% and the reasonable levelized cost of electricity (LCOE) of 16.121 US cent/(kW·h). This work provides an alternative guidance for future development of the CSP technology.

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2050 LCOE improvement using new molten salts for thermal energy storage in CSP plants

Cited by 87 publications

References 21 publications

Cost-Benefit Analysis for the Concentrated Solar Power in China

Cost-Benefit Analysis for the Concentrated Solar Power in China

Techno-Economic Assessment of Heat Transfer Fluid Buffering for Thermal Energy Storage in the Solar Field of Parabolic Trough Solar Thermal Power Plants

Comprehensive assessment of line-/point-focus combined scheme for concentrating solar power system

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