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Techno-Economic Analysis of Solar Tower Aided Coal-Fired Power Generation System

Author

Listed:
  • Yong Zhu

    (School of Energy, Power and Mechanical Engineering, North China Electric Power University, Beijing 102206, China)

  • Rongrong Zhai

    (School of Energy, Power and Mechanical Engineering, North China Electric Power University, Beijing 102206, China)

  • Yongping Yang

    (School of Energy, Power and Mechanical Engineering, North China Electric Power University, Beijing 102206, China)

  • Miguel Angel Reyes-Belmonte

    (IMDEA Energy Institute, Ramon de la Sagra 3, 28935 Móstoles, Spain)

Abstract

In this paper, we conduct a techno-economic analysis of a 1000 MWe solar tower aided coal-fired power generation system for the whole life cycle. Firstly, the power output (from coal and solar thermal energy) under variable direct normal irradiance and grid demand are studied. Secondly, a financial assessment is performed, including profits and losses of the plant project. Thirdly, sensitivity analysis is taken on some external factors that can affect the cost or profits and losses of the plant project. The results indicate that the project has high profits with an internal rate of return (IRR) of 8.7%. In addition, the effects of solar tower field cost, power purchase agreement (PPA) price of solar thermal electricity, coal price, and the interest rate of debt on the main criteria decrease gradually. Therefore, it is better to improve solar tower technology first, and then look for low-interest debts from banks to cope with the reduction of PPA price of solar thermal electricity and the increase of coal price. Despite the introduction of solar tower field increasing levelized cost of electricity (LCOE), it contributes to the reduction of CO 2 capture cost compared to the case of standard coal-fired power plants.

Suggested Citation

  • Yong Zhu & Rongrong Zhai & Yongping Yang & Miguel Angel Reyes-Belmonte, 2017. "Techno-Economic Analysis of Solar Tower Aided Coal-Fired Power Generation System," Energies, MDPI, vol. 10(9), pages 1-26, September.
    • Handle: RePEc:gam:jeners:v:10:y:2017:i:9:p:1392-:d:111903
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    References listed on IDEAS

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    Cited by:

    1. Li, Chao & Zhai, Rongrong & Yang, Yongping & Patchigolla, Kumar & Oakey, John E. & Turner, Peter, 2019. "Annual performance analysis and optimization of a solar tower aided coal-fired power plant," Applied Energy, Elsevier, vol. 237(C), pages 440-456.
    2. Vinod Kumar & Liqiang Duan, 2021. "Off-Design Dynamic Performance Analysis of a Solar Aided Coal-Fired Power Plant," Energies, MDPI, vol. 14(10), pages 1-16, May.
    3. Li, Chao & Yang, Zhiping & Zhai, Rongrong & Yang, Yongping & Patchigolla, Kumar & Oakey, John E., 2018. "Off-design thermodynamic performances of a solar tower aided coal-fired power plant for different solar multiples with thermal energy storage," Energy, Elsevier, vol. 163(C), pages 956-968.
    4. Yi Yuan & Yingjie Li & Jianli Zhao, 2018. "Development on Thermochemical Energy Storage Based on CaO-Based Materials: A Review," Sustainability, MDPI, vol. 10(8), pages 1-24, July.
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    6. Miguel Ángel Reyes-Belmonte, 2020. "A Bibliometric Study on Integrated Solar Combined Cycles (ISCC), Trends and Future Based on Data Analytics Tools," Sustainability, MDPI, vol. 12(19), pages 1-29, October.
    7. Liu, Hongtao & Zhai, Rongrong & Patchigolla, Kumar & Turner, Peter & Yang, Yongping, 2020. "Performance analysis of a novel combined solar trough and tower aided coal-fired power generation system," Energy, Elsevier, vol. 201(C).

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