Techno-economic analysis of an integrated spectral beam splitting concentrated photovoltaic thermal and two-stage organic Rankine cycle system

As global energy demand rises and fossil fuel reserves decline, solar-based combined heat and power (CHP) systems are gaining attention for sustainable energy generation. This study conducts a techno-economic assessment of a Spectral Beam Splitting Concentrated Photovoltaic Thermal system integrated with a Two-Stage Organic Rankine Cycle (SBS-CPVT-TSORC) to evaluate the system's economic competitiveness relative to other CHP configurations. Simulations using MATLAB, EES, and TRNSYS evaluate system performance under realistic environmental and operational conditions to identify key parameters for future multi-objective optimization. Results show that expanding area increases total efficiency by 27.56 % (to 72.39 %), while optical channel flow rate reduces TSORC efficiency to 6.11 % and total efficiency to 62.17 %. Increasing auxiliary heater temperature boosts TSORC efficiency to 7.95 % but lowers SBS-CPVT efficiency to 42.4 %, with solar fraction varying from 38.01 % to 58.84 %. Climate analysis identifies Turpan as optimal for thermal output and Beijing for TSORC performance. Monthly system efficiency peaks in July (61.07 %) and dips in January (54.29 %). Furthermore, solar radiation, auxiliary heater temperature and collector area emerge as the most essential factors identified through sensitivity analysis. Additionally, competitive LCOE (0.139–0.165 $/kWh) and LCOH (0.046–0.093 $/kWh) were confirmed by the present system, which supports the system's feasibility for decentralized applications.