Techno-economic comparison between concentrated solar thermal power and solar PV with battery energy storage technology

Abstract

Electrical traction is more effective, more comfortable, and more cost-effective than diesel traction in railway Renewable energy sources are becoming increasingly important in meeting global energy demands and reducing greenhouse gas emissions. Concentrated Solar Power (CSP) of Parabolic trough technology and Solar Photovoltaic (PV) with Battery Energy Storage Systems (BESS) are two promising technologies that can provide renewable energy to the grid. This study aims to determine which technology is more technically and economically viable for medium and large-scale power generation and storage. The dissertation includes seven chapters with a detailed literature review and a discussion of analysis of the costs, efficiencies, and overall performance of these two technologies. Further, the study analyzes the feasibility of each technology based on factors such as levelized cost of electricity (LCOE). The analysis is carried out for a 10 MW CSP plant with 40 MWh molten salt storage and a 10 MW + 40 MWh PV+BESS system, both located in a high solar irradiance region. The results indicate that while CSP has a higher plant factor and LCOE of 26.96 $cents/kWh, PV+BESS has higher dispatchability and lower upfront capital cost with low LCOE of 23.27 $cents/kWh. A sensitivity analysis of both technologies was also conducted to examine the LCOE variation with respect to the cost variation of major CAPEX category, solar multiple, DC to AC ratio, storage capacity. O&M cost analysis is carried out to compare the overheads. From the comparison between both technologies at different plants and storage capacities it is identified CSP is a viable solution than PV+ BESS for above 20 MW of 4-hour storge capacity when only dispatchability is considered. The comparison between the LCOE with the storage and the capacity of each technology proves that CSP systems are particularly well-suited for capacities above 50 MW, where they can take advantage of economies of scale and achieve lower LCOE. Further a market analysis was also conducted for a PPA price ascertainment. In the sensitivity analysis of the PPA prices it is found that PPA prices range from 50 rupees to Rs.105/kWh, taking as 1USD = Rs.360.00 a positive NPV is from Rs.55/kWh for the CSP system and NPV is positive for Rs.50/kWh for PV+ BESS