2016
DOI: 10.1115/1.4032244
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A Methodology for Determining Optimum Solar Tower Plant Configurations and Operating Strategies to Maximize Profits Based on Hourly Electricity Market Prices and Tariffs

Abstract: The present study analyzes the influence that market conditions have on determining optimum molten salt solar tower plants with storage that maximizes profits (in terms of plant configuration, sizing, and operation) for a location in South Africa. Three different scenarios based on incentive programs and local wholesale electricity prices are considered. A multi-objective optimization modeling approach was followed, showing the tradeoff curves between minimizing investment and maximizing profits when varying c… Show more

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Cited by 20 publications
(25 citation statements)
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“…The study was carried out using DYESOPT, an in-house numerical tool developed at KTH Royal Institute of Technology in Sweden [5], which incorporates location-tailored techno-economic performance evaluations coupled to a multi-objective optimization. The tool allows a variety of power plants to be designed in accordance to specific plant design specifications set by the user and to implement different operating strategies and controls.…”
Section: Methodsmentioning
confidence: 99%
See 2 more Smart Citations
“…The study was carried out using DYESOPT, an in-house numerical tool developed at KTH Royal Institute of Technology in Sweden [5], which incorporates location-tailored techno-economic performance evaluations coupled to a multi-objective optimization. The tool allows a variety of power plants to be designed in accordance to specific plant design specifications set by the user and to implement different operating strategies and controls.…”
Section: Methodsmentioning
confidence: 99%
“…This method also allows to identify the best values for the various input parameters, leading to an optimal design and making it possible to analyze the effect of these parameters on the plant performance and economics. The optimization was carried out by minimizing both LCOE and CAPEX, which can be conflicting objectives for investors and decision makers in CSP projects [5]. Key design parameters like storage full load hours, solar field size and the freeze protection set temperature were varied to derive optimal plant configurations in terms of component size.…”
Section: Multi-objective Optimizationmentioning
confidence: 99%
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“…070002-1 energy storage given that prior studies [9] have shown that, for certain market conditions, the most profitable operating strategies imply an increased amount of annual starts in order to peak the operation of the plant during the highest electricity prices. As such, in the interest of improving the annual performance and competitiveness of parabolic trough CSP plants, it is desirable to achieve fast start-up times to harness the solar energy as soon as possible.…”
Section: Introductionmentioning
confidence: 99%
“…In addition the steam generation components, evaporator (EV), super-heater (SH) and re-heater (RH), form the central receiver at the top the tower. The main design parameters and configuration specifications of the DSG-STPP used as the base case for this work are shown in TABLE 1 . For the purpose of the studies carried out in this work, the fact that the selected plant configuration does not comprise thermal energy storage serves to observe the impact and value of operational flexibility more clearly for each of the flexibility scenarios considered.…”
Section: Power Plant Techno-economic Modelmentioning
confidence: 99%