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

Lisa Gobio-Thomas, Mohamed Darwish, Antonio Rovira, Ruben Abbas, Magdalena Barnetche, Juan Pedro Solano, Albert Torres, Krzysztof Naplocha, Peter Kew and Valentina Stojceska ()
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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

Sustainability, 2025, vol. 17, issue 2, 1-17

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.

Keywords: economic assessment; life cycle costing (LCC); solar thermal systems; capital costs; levelised cost of energy (LCOE); sustainability; benefit–cost ratio; energy cost savings; carbon cost savings (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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