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Economic analysis of power generation from floating solar chimney power plant

Author

Listed:
  • Zhou, Xinping
  • Yang, Jiakuan
  • Wang, Fen
  • Xiao, Bo

Abstract

Solar chimney thermal power technology that has a long life span is a promising large-scale solar power generating technology. This paper performs economic analysis of power generation from floating solar chimney power plant (FSCPP) by analyzing cash flows during the whole service period of a 100 MW plant. Cash flows are influenced by many factors including investment, operation and maintenance cost, life span, payback period, inflation rate, minimum attractive rate of return, non-returnable subsidy rate, interest rate of loans, sale price of electricity, income tax rate and whether additional revenue generated by carbon credits is included or not. Financial incentives and additional revenue generated by carbon credits can accelerate the development of the FSCPP. Sensitivity analysis to examine the effects of the factors on cash flows of a 100 MW FSCPP is performed in detail. The results show that the minimum price for obtaining minimum attractive rate of return (MARR) of 8% reaches 0.83 yuan (kWh)-1 under financial incentives including loans at a low interest rate of 2% and free income tax. Comparisons of economics of the FSCPP and reinforced concrete solar chimney power plant or solar photovoltaic plant are also performed by analyzing their cash flows. It is concluded that FSCPP is in reality more economical than reinforced concrete solar chimney power plant (RCSCPP) or solar photovoltaic plant (SPVP) with the same power capacity.

Suggested Citation

  • Zhou, Xinping & Yang, Jiakuan & Wang, Fen & Xiao, Bo, 2009. "Economic analysis of power generation from floating solar chimney power plant," Renewable and Sustainable Energy Reviews, Elsevier, vol. 13(4), pages 736-749, May.
  • Handle: RePEc:eee:rensus:v:13:y:2009:i:4:p:736-749
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    References listed on IDEAS

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    Cited by:

    1. Hurtado, F.J. & Kaiser, A.S. & Zamora, B., 2012. "Evaluation of the influence of soil thermal inertia on the performance of a solar chimney power plant," Energy, Elsevier, vol. 47(1), pages 213-224.
    2. Hu, Siyang & Leung, Dennis Y.C. & Chan, John C.Y., 2017. "Impact of the geometry of divergent chimneys on the power output of a solar chimney power plant," Energy, Elsevier, vol. 120(C), pages 1-11.
    3. repec:eee:appene:v:195:y:2017:i:c:p:725-737 is not listed on IDEAS
    4. Zhou, Xinping & Wang, Fang & Ochieng, Reccab M., 2010. "A review of solar chimney power technology," Renewable and Sustainable Energy Reviews, Elsevier, vol. 14(8), pages 2315-2338, October.
    5. Chergui, Toufik & Larbi, Salah & Bouhdjar, Amor, 2010. "Thermo-hydrodynamic aspect analysis of flows in solar chimney power plants--A case study," Renewable and Sustainable Energy Reviews, Elsevier, vol. 14(5), pages 1410-1418, June.
    6. Chan, Chuen-yu & Hu, Si-yang & Raynal, Marc & Leung, Dennis Y.C. & Chang, Alfred P.S. & Yao, Jin-biao, 2014. "A telescopic divergent chimney for power generation based on forced air movement: Principle and theoretical formulation," Applied Energy, Elsevier, pages 873-880.
    7. Aragonés-Beltrán, Pablo & Chaparro-González, Fidel & Pastor-Ferrando, Juan-Pascual & Pla-Rubio, Andrea, 2014. "An AHP (Analytic Hierarchy Process)/ANP (Analytic Network Process)-based multi-criteria decision approach for the selection of solar-thermal power plant investment projects," Energy, Elsevier, vol. 66(C), pages 222-238.
    8. Kannan, Nadarajah & Vakeesan, Divagar, 2016. "Solar energy for future world: - A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 62(C), pages 1092-1105.
    9. Ghalamchi, Mehran & Kasaeian, Alibakhsh & Ghalamchi, Mehrdad, 2015. "Experimental study of geometrical and climate effects on the performance of a small solar chimney," Renewable and Sustainable Energy Reviews, Elsevier, vol. 43(C), pages 425-431.
    10. Kasaeian, A.B. & Molana, Sh. & Rahmani, K. & Wen, D., 2017. "A review on solar chimney systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 67(C), pages 954-987.
    11. Koonsrisuk, Atit, 2012. "Mathematical modeling of sloped solar chimney power plants," Energy, Elsevier, vol. 47(1), pages 582-589.
    12. Zhou, Xinping & Wang, Fang & Fan, Jian & Ochieng, Reccab M., 2010. "Performance of solar chimney power plant in Qinghai-Tibet Plateau," Renewable and Sustainable Energy Reviews, Elsevier, vol. 14(8), pages 2249-2255, October.
    13. Ab Kadir, Mohd Zainal Abidin & Rafeeu, Yaaseen & Adam, Nor Mariah, 2010. "Prospective scenarios for the full solar energy development in Malaysia," Renewable and Sustainable Energy Reviews, Elsevier, vol. 14(9), pages 3023-3031, December.
    14. de_Richter, Renaud Kiesgen & Ming, Tingzhen & Caillol, Sylvain, 2013. "Fighting global warming by photocatalytic reduction of CO2 using giant photocatalytic reactors," Renewable and Sustainable Energy Reviews, Elsevier, vol. 19(C), pages 82-106.
    15. Hasan, M.H. & Mahlia, T.M.I. & Nur, Hadi, 2012. "A review on energy scenario and sustainable energy in Indonesia," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(4), pages 2316-2328.
    16. Ming, Tingzhen & Wu, Yongjia & de_Richter, Renaud K. & Liu, Wei & Sherif, S.A., 2017. "Solar updraft power plant system: A brief review and a case study on a new system with radial partition walls in its collector," Renewable and Sustainable Energy Reviews, Elsevier, vol. 69(C), pages 472-487.
    17. Ming, Tingzhen & Wang, Xinjiang & de Richter, Renaud Kiesgen & Liu, Wei & Wu, Tianhua & Pan, Yuan, 2012. "Numerical analysis on the influence of ambient crosswind on the performance of solar updraft power plant system," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(8), pages 5567-5583.
    18. Parida, Bhubaneswari & Iniyan, S. & Goic, Ranko, 2011. "A review of solar photovoltaic technologies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 15(3), pages 1625-1636, April.

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