IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v17y2025i2p455-d1563043.html
   My bibliography  Save this article

A Comprehensive Assessment of the Economic Performance of an Innovative Solar Thermal System: A Case Study

Author

Listed:
  • Lisa Gobio-Thomas

    (Department of Mechanical and Aerospace Engineering, College of Engineering Design and Physical Sciences, Brunel Univeristy London, Kingston Lane, Uxbridge UB8 3PH, UK)

  • Mohamed Darwish

    (Department of Electronic & Electrical Engineering, College of Engineering Design and Physical Sciences, Brunel Univeristy London, Kingston Lane, Uxbridge UB8 3PH, UK)

  • Antonio Rovira

    (Depatment of Energy Engineering, Universidad Nacional de Educación a Distancia (UNED), Juan del Rosal 12, 28040 Madrid, Spain)

  • Ruben Abbas

    (ETSI Industriales, Universidad Politécnica de Madrid (UPM), José Gutiérrez Abascal 2, 28006 Madrid, Spain)

  • Magdalena Barnetche

    (ETSI Industriales, Universidad Politécnica de Madrid (UPM), José Gutiérrez Abascal 2, 28006 Madrid, Spain)

  • Juan Pedro Solano

    (Depatment of Energy Engineering, Universidad Politécnica de Cartagena (UPCT), Edif. La Milagrosa, 30202 Cartagena, Spain)

  • Albert Torres

    (IRIS Technology, Carretera d’Esplugues 39-41, Cornellà de Lobregat, 08940 Barcelona, Spain)

  • Krzysztof Naplocha

    (Department of Lightweight Elements Engineering, Foundry and Automation, Wroclaw University of Science & Technology, ul. Smoluchowskiego 25, 50-371 Wroclaw, Poland)

  • Peter Kew

    (David Reay & Associates, P.O. Box 25, Whitley Bay, Tyne & Wear NE26 1QT, UK)

  • Valentina Stojceska

    (Department of Mechanical and Aerospace Engineering, College of Engineering Design and Physical Sciences, Brunel Univeristy London, Kingston Lane, Uxbridge UB8 3PH, UK
    Institute of Energy Futures, Centre for Sustainable Energy Use in Food Chains, Brunel University London, Kingston Lane, Uxbridge UB8 3PH, UK)

Abstract

An economic assessment of an innovative solar thermal system called Application to Solar Thermal Energy to Processes (ASTEP) was conducted. It considered its three main subsystems: a novel rotary Fresnel SunDial, Thermal Energy Storage (TES) and Control System. Current Fresnel collectors are unable to provide thermal energy above 150 °C in high-latitude locations. Therefore, the key contribution of this study is the assessment of the economic performance of the ASTEP system used to provide high-temperature process heat up to 400 °C for industries located at low and high latitudes. The ASTEP system is installed at two end-users: Mandrekas (MAND), a dairy factory located in Greece at a latitude of 37.93 N and ArcelorMittal (AMTP), a manufacturer of steel tubes located in Romania at a latitude of 47.1 N. The life cycle costs (LCC), levelised cost of energy (LCOE), energy cost savings, EU carbon cost savings and benefit–cost ratio (BCR) of the ASTEP system were assessed. The results showed that AMTP’s ASTEP system had higher LCC and LCOE than MAND. This can be attributed to the use of two TES tanks and a double-axis solar tracking system for AMTP’s ASTEP system due to its high latitude location, compared to a single TES tank and single-axis solar tracking system used for MAND at low latitude. The total financial savings of the ASTEP system were EUR 249,248 for MAND and EUR 262,931 for AMTP over a period of 30 years. This study demonstrates that the ASTEP system offers financial benefits through its energy and EU carbon cost savings for industries at different latitudes while enhancing their environmental sustainability.

Suggested Citation

  • Lisa Gobio-Thomas & Mohamed Darwish & Antonio Rovira & Ruben Abbas & Magdalena Barnetche & Juan Pedro Solano & Albert Torres & Krzysztof Naplocha & Peter Kew & Valentina Stojceska, 2025. "A Comprehensive Assessment of the Economic Performance of an Innovative Solar Thermal System: A Case Study," Sustainability, MDPI, vol. 17(2), pages 1-17, January.
    • Handle: RePEc:gam:jsusta:v:17:y:2025:i:2:p:455-:d:1563043
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/17/2/455/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/17/2/455/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Aseri, Tarun Kumar & Sharma, Chandan & Kandpal, Tara C., 2021. "Estimation of capital costs and techno-economic appraisal of parabolic trough solar collector and solar power tower based CSP plants in India for different condenser cooling options," Renewable Energy, Elsevier, vol. 178(C), pages 344-362.
    2. Xiaoru Zhuang & Xinhai Xu & Wenrui Liu & Wenfu Xu, 2019. "LCOE Analysis of Tower Concentrating Solar Power Plants Using Different Molten-Salts for Thermal Energy Storage in China," Energies, MDPI, vol. 12(7), pages 1-17, April.
    3. Sultan, Ali J. & Hughes, Kevin J. & Ingham, Derek B. & Ma, Lin & Pourkashanian, Mohamed, 2020. "Techno-economic competitiveness of 50 MW concentrating solar power plants for electricity generation under Kuwait climatic conditions," Renewable and Sustainable Energy Reviews, Elsevier, vol. 134(C).
    4. Mahmood Shafiee & Adel Alghamdi & Chris Sansom & Phil Hart & Adriana Encinas-Oropesa, 2020. "A Through-Life Cost Analysis Model to Support Investment Decision-Making in Concentrated Solar Power Projects," Energies, MDPI, vol. 13(7), pages 1-20, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Enkhbayar Shagdar & Bachirou Guene Lougou & Batmunkh Sereeter & Yong Shuai & Azeem Mustafa & Enkhjin Ganbold & Dongmei Han, 2022. "Performance Analysis of the 50 MW Concentrating Solar Power Plant under Various Operation Conditions," Energies, MDPI, vol. 15(4), pages 1-24, February.
    2. Sadeghi, Shayan & Ghandehariun, Samane, 2022. "A standalone solar thermochemical water splitting hydrogen plant with high-temperature molten salt: Thermodynamic and economic analyses and multi-objective optimization," Energy, Elsevier, vol. 240(C).
    3. Salmon, Aloïs & Marzo, Aitor & Polo, Jesús & Ballestrín, Jesús & Carra, Elena & Alonso-Montesinos, Joaquín, 2022. "World map of low-layer atmospheric extinction values for solar power tower plants projects," Renewable Energy, Elsevier, vol. 201(P1), pages 876-888.
    4. Mika Fabricius & Daniel Øland Tarp & Thomas Wehl Rasmussen & Ahmad Arabkoohsar, 2020. "Utilization of Excess Production of Waste-Fired CHP Plants for District Cooling Supply, an Effective Solution for a Serious Challenge," Energies, MDPI, vol. 13(13), pages 1-21, June.
    5. Ming Tao & Yanzhe Yu & Huan Zhang & Tianzhen Ye & Shijun You & Mengting Zhang, 2021. "Research on the Optimization Design of Solar Energy-Gas-Fired Boiler Systems for Decentralized Heating," Energies, MDPI, vol. 14(11), pages 1-27, May.
    6. Teerapath Limboonruang & Muyiwa Oyinlola & Dani Harmanto & Pracha Bunyawanichakul & Nittalin Phunapai, 2023. "Optimizing Solar Parabolic Trough Receivers with External Fins: An Experimental Study on Enhancing Heat Transfer and Thermal Efficiency," Energies, MDPI, vol. 16(18), pages 1-22, September.
    7. Ali M. H. A. Khajah & Simon P. Philbin, 2022. "Techno-Economic Analysis and Modelling of the Feasibility of Wind Energy in Kuwait," Clean Technol., MDPI, vol. 4(1), pages 1-21, January.
    8. David Saldivia & Robert A. Taylor, 2023. "A Novel Dual Receiver–Storage Design for Concentrating Solar Thermal Plants Using Beam-Down Optics," Energies, MDPI, vol. 16(10), pages 1-23, May.
    9. Ephraim Bonah Agyekum & Tomiwa Sunday Adebayo & Festus Victor Bekun & Nallapaneni Manoj Kumar & Manoj Kumar Panjwani, 2021. "Effect of Two Different Heat Transfer Fluids on the Performance of Solar Tower CSP by Comparing Recompression Supercritical CO 2 and Rankine Power Cycles, China," Energies, MDPI, vol. 14(12), pages 1-19, June.
    10. Fang, Yi & Li, Xian & Ascher, Simon & Li, Yize & Dai, Leilei & Ruan, Roger & You, Siming, 2023. "Life cycle assessment and cost benefit analysis of concentrated solar thermal gasification of biomass for continuous electricity generation," Energy, Elsevier, vol. 284(C).
    11. Zhixian Wang & Ying Wang & Qia Ding & Chen Wang & Kaifeng Zhang, 2020. "Energy Storage Economic Analysis of Multi-Application Scenarios in an Electricity Market: A Case Study of China," Sustainability, MDPI, vol. 12(20), pages 1-17, October.
    12. Catalina Hernández & Rodrigo Barraza & Alejandro Saez & Mercedes Ibarra & Danilo Estay, 2020. "Potential Map for the Installation of Concentrated Solar Power Towers in Chile," Energies, MDPI, vol. 13(9), pages 1-15, April.
    13. Hanane Ait Lahoussine Ouali & Ahmed Alami Merrouni & Shahariar Chowdhury & Kuaanan Techato & Sittiporn Channumsin & Nasim Ullah, 2022. "Optimization and Techno-Economic Appraisal of Parabolic Trough Solar Power Plant under Different Scenarios: A Case Study of Morocco," Energies, MDPI, vol. 15(22), pages 1-20, November.
    14. Zhang, M. & Yang, X.N., 2021. "Administrative framework barriers to energy storage development in China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 148(C).
    15. Suzan Abdelhady & Mohamed A. Shalaby & Ahmed Shaban, 2021. "Techno-Economic Analysis for the Optimal Design of a National Network of Agro-Energy Biomass Power Plants in Egypt," Energies, MDPI, vol. 14(11), pages 1-26, May.
    16. Milford, James & Henrion, Max & Hunter, Chad & Newes, Emily & Hughes, Caroline & Baldwin, Samuel F., 2022. "Energy sector portfolio analysis with uncertainty," Applied Energy, Elsevier, vol. 306(PA).
    17. Qimei Chen & Yan Wang & Jianhan Zhang & Zhifeng Wang, 2020. "The Knowledge Mapping of Concentrating Solar Power Development Based on Literature Analysis Technology," Energies, MDPI, vol. 13(8), pages 1-15, April.
    18. Alessandro Bellucci & Gianluca Caposciutti & Marco Antonelli & Daniele Maria Trucchi, 2023. "Techno-Economic Evaluation of Future Thermionic Generators for Small-Scale Concentrated Solar Power Systems," Energies, MDPI, vol. 16(3), pages 1-14, January.
    19. Gemma Gasa & Anton Lopez-Roman & Cristina Prieto & Luisa F. Cabeza, 2021. "Life Cycle Assessment (LCA) of a Concentrating Solar Power (CSP) Plant in Tower Configuration with and without Thermal Energy Storage (TES)," Sustainability, MDPI, vol. 13(7), pages 1-20, March.
    20. Afra, Mohammad & Peyghambarzadeh, S.M. & Shahbazi, Khalil & Tahmassebi, Narges, 2021. "Thermo-economic optimization of steam injection operation in enhanced oil recovery (EOR) using nano-thermal insulation," Energy, Elsevier, vol. 226(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:17:y:2025:i:2:p:455-:d:1563043. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.