Comparing the Net Cost of CSP-TES to PV Deployed with Battery Storage

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29 Scopus Citations

Abstract

Concentrated solar power with thermal energy storage (CSP-TES) is a unique source of renewable energy in that its energy can be shifted over time and it can provide the electricity system with dependable generation capacity. In this study, we provide a framework to determine if the benefits of CSP-TES (shiftable energy and the ability to provide firm capacity) exceed the benefits of PV and firm capacity sources such as long-duration battery storage or conventional natural gas combustion turbines (CTs). The results of this study using current capital cost estimates indicate that a combination of PV and conventional gas CTs provides a lower net cost compared to CSP-TES and PV with batteries. Some configurations of CSP-TES have a lower net cost than PV with batteries for even the lowest battery cost estimate. Using projected capital cost targets, however, some configurations of CSP-TES have a lower net cost than PV with either option for even the lowest battery cost estimate. The net cost of CSP-TES varies with configuration, and lower solar multiples coupled with less storage are more attractive at current cost levels, due to high component costs. However, higher solar multiples show a lower net cost using projected future costs for heliostats and thermal storage materials.

Original languageAmerican English
Number of pages9
DOIs
StatePublished - 31 May 2016
Event21st International Conference on Concentrating Solar Power and Chemical Energy Systems, SolarPACES 2015 - Cape Town, South Africa
Duration: 13 Oct 201516 Oct 2015

Conference

Conference21st International Conference on Concentrating Solar Power and Chemical Energy Systems, SolarPACES 2015
Country/TerritorySouth Africa
CityCape Town
Period13/10/1516/10/15

Bibliographical note

Publisher Copyright:
© 2016 Author(s).

NREL Publication Number

  • NREL/CP-6A20-64716

Keywords

  • concentrating solar power
  • renewable energy integration
  • thermal energy storage

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