Cost–Benefit Analysis of Solar Thermal Plants with Storage in a Hydrothermal System

Cibelle Pereira Trama, Amaro Olímpio Pereira Júnior, Ana Paula Cardoso Guimarães, André Luiz Diniz and Leonardo dos Santos Reis Vieira
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Cibelle Pereira Trama: Energy Planning Program, Alberto Luiz Coimbra Institute for Graduate Studies and Engineering Research, Federal University of Rio de Janeiro (PPE/COPPE-UFRJ), Rio de Janeiro 21941-914, RJ, Brazil
Amaro Olímpio Pereira Júnior: Energy Planning Program, Alberto Luiz Coimbra Institute for Graduate Studies and Engineering Research, Federal University of Rio de Janeiro (PPE/COPPE-UFRJ), Rio de Janeiro 21941-914, RJ, Brazil
Ana Paula Cardoso Guimarães: Electrical Energy Research Center (CEPEL), Rio de Janeiro 21941-911, RJ, Brazil
André Luiz Diniz: Electrical Energy Research Center (CEPEL), Rio de Janeiro 21941-911, RJ, Brazil
Leonardo dos Santos Reis Vieira: Electrical Energy Research Center (CEPEL), Rio de Janeiro 21941-911, RJ, Brazil

Energies, 2021, vol. 14, issue 18, 1-27

Abstract: Economic feasibility studies of concentrated solar power (CSP) plants with thermal energy storage (TES) systems have been mainly based on the levelized cost of electricity (LCOE), disregarding the economic benefits to the electricity system resulting from the dispatchability of the CSP plants. The analysis of these benefits is essential since the existence of storage can provide greater operating flexibility to the system. Although there are few studies on the benefits of CSP plants in thermoelectric systems, this analysis has not yet been done in a predominantly hydroelectric system. In this paper, CSP plants with TES systems were inserted in a hydrothermal system in order to estimate the economic benefits and the net cost of electricity generated by those plants. The System Advisor Model (SAM) and the hydrothermal scheduling model DESSEM were used in a real case study of inclusion of CSP plants in the Brazilian system. The results indicate that the cost of a CSP plant, previously estimated by the LCOE, can be reduced by at least 37% when considering its benefits to a hydrothermal system, increasing its competitiveness with other technologies. Therefore, we propose the use of the net cost for an appropriate comparison among energy sources.

Keywords: concentrated solar power; thermal energy storage; levelized cost of electricity; energy value; net cost of electricity; hydrothermal system (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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