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Concentrating solar power plant investment and operation decisions under different price and support mechanisms

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  • Kost, Christoph
  • Flath, Christoph M.
  • Möst, Dominik

Abstract

The dispatch opportunities provided by storage-enhanced Concentrating Solar Power (CSP) plants have direct implications on the investment decisions as not only nameplate capacity but also the storage capacity and the solar multiple play a crucial role for the viability of the plant investment. By integrating additional technical aspects and operation strategies, this paper extends the optimization model proposed by Madaeni et al., How Thermal Energy Storage Enhances the Economic Viability of Concentrating Solar Power. Using a mixed integer maximization approach the paper yields both the optimal layout decision and the operation of CSP plants.

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  • Kost, Christoph & Flath, Christoph M. & Möst, Dominik, 2013. "Concentrating solar power plant investment and operation decisions under different price and support mechanisms," Energy Policy, Elsevier, vol. 61(C), pages 238-248.
    • Handle: RePEc:eee:enepol:v:61:y:2013:i:c:p:238-248
    DOI: 10.1016/j.enpol.2013.05.040
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    6. Xu, Xinhai & Vignarooban, K. & Xu, Ben & Hsu, K. & Kannan, A.M., 2016. "Prospects and problems of concentrating solar power technologies for power generation in the desert regions," Renewable and Sustainable Energy Reviews, Elsevier, vol. 53(C), pages 1106-1131.
    7. Mahmoudimehr, Javad & Sebghati, Parvin, 2019. "A novel multi-objective Dynamic Programming optimization method: Performance management of a solar thermal power plant as a case study," Energy, Elsevier, vol. 168(C), pages 796-814.
    8. Martinek, Janna & Jorgenson, Jennie & Mehos, Mark & Denholm, Paul, 2018. "A comparison of price-taker and production cost models for determining system value, revenue, and scheduling of concentrating solar power plants," Applied Energy, Elsevier, vol. 231(C), pages 854-865.
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    10. Dowling, Alexander W. & Kumar, Ranjeet & Zavala, Victor M., 2017. "A multi-scale optimization framework for electricity market participation," Applied Energy, Elsevier, vol. 190(C), pages 147-164.
    11. Abiodun, Kehinde & Hood, Karoline & Cox, John L. & Newman, Alexandra M. & Zolan, Alex J., 2023. "The value of concentrating solar power in ancillary services markets," Applied Energy, Elsevier, vol. 334(C).
    12. Vasallo, Manuel Jesús & Cojocaru, Emilian Gelu & Gegúndez, Manuel Emilio & Marín, Diego, 2021. "Application of data-based solar field models to optimal generation scheduling in concentrating solar power plants," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 190(C), pages 1130-1149.
    13. Vasallo, Manuel Jesús & Bravo, José Manuel, 2016. "A MPC approach for optimal generation scheduling in CSP plants," Applied Energy, Elsevier, vol. 165(C), pages 357-370.
    14. Gaigalis, Vygandas & Markevicius, Antanas & Katinas, Vladislovas & Skema, Romualdas, 2014. "Analysis of the renewable energy promotion in Lithuania in compliance with the European Union strategy and policy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 35(C), pages 422-435.
    15. Du, Ershun & Zhang, Ning & Hodge, Bri-Mathias & Kang, Chongqing & Kroposki, Benjamin & Xia, Qing, 2018. "Economic justification of concentrating solar power in high renewable energy penetrated power systems," Applied Energy, Elsevier, vol. 222(C), pages 649-661.
    16. Cojocaru, Emilian Gelu & Bravo, José Manuel & Vasallo, Manuel Jesús & Santos, Diego Marín, 2019. "Optimal scheduling in concentrating solar power plants oriented to low generation cycling," Renewable Energy, Elsevier, vol. 135(C), pages 789-799.
    17. Dowling, Alexander W. & Zheng, Tian & Zavala, Victor M., 2017. "Economic assessment of concentrated solar power technologies: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 72(C), pages 1019-1032.
    18. Simsek, Yeliz & Mata-Torres, Carlos & Guzmán, Amador M. & Cardemil, Jose M. & Escobar, Rodrigo, 2018. "Sensitivity and effectiveness analysis of incentives for concentrated solar power projects in Chile," Renewable Energy, Elsevier, vol. 129(PA), pages 214-224.
    19. Kahvecioğlu, Gökçe & Morton, David P. & Wagner, Michael J., 2022. "Dispatch optimization of a concentrating solar power system under uncertain solar irradiance and energy prices," Applied Energy, Elsevier, vol. 326(C).
    20. Gutiérrez, R.E. & Guerra, K. & Haro, P., 2022. "Exploring the techno-economic feasibility of new bioeconomy concepts: Solar-assisted thermochemical biorefineries," Applied Energy, Elsevier, vol. 322(C).
    21. Mena, R. & Escobar, R. & Lorca, Á. & Negrete-Pincetic, M. & Olivares, D., 2019. "The impact of concentrated solar power in electric power systems: A Chilean case study," Applied Energy, Elsevier, vol. 235(C), pages 258-283.
    22. Gutiérrez, R.E. & Haro, P. & Gómez-Barea, A., 2021. "Techno-economic and operational assessment of concentrated solar power plants with a dual supporting system," Applied Energy, Elsevier, vol. 302(C).
    23. Gutiérrez-Alvarez, R. & Guerra, K. & Haro, P., 2023. "Market profitability of CSP-biomass hybrid power plants: Towards a firm supply of renewable energy," Applied Energy, Elsevier, vol. 335(C).
    24. Mihoub, Sofiane & Chermiti, Ali & Beltagy, Hani, 2017. "Methodology of determining the optimum performances of future concentrating solar thermal power plants in Algeria," Energy, Elsevier, vol. 122(C), pages 801-810.

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