Techno-economic analysis of concentrated solar power plants in terms of levelized cost of electricity

Richard Musi; Benjamin Grange; Sgouris Sgouridis; Rafael Guedez; Peter Armstrong; Alexander Slocum; Nicolas Calvet

doi:10.1063/1.4984552

Techno-economic analysis of concentrated solar power plants in terms of levelized cost of electricity

Richard Musi
, Benjamin Grange
, Sgouris Sgouridis
, Rafael Guedez
, Peter Armstrong
, Alexander Slocum
, Nicolas Calvet

Mechanical & Nuclear Engineering

University of Perpignan
Royal Institute of Technology
Massachusetts Institute of Technology

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

47 Scopus citations

Abstract

Levelized Cost of Electricity (LCOE) is an important metric which provides one way to compare the economic competitiveness of different electricity generation systems, calculated simply by dividing lifetime costs by lifetime production. Hidden behind the simplicity of this formula are various assumptions which may significantly alter results. Different LCOE studies exist in the literature, although their assumptions are rarely explicitly stated. This analysis gives all formulas and assumptions which allow for inter-study comparisons. The results of this analysis indicate that CSP LCOE is reducing markedly over time and that given the right location and market conditions, the SunShot 6¢/kWh 2020 target can be reached. Increased industrial cooperation is needed to advance the CSP market and continue to drive down LCOE. The results also indicate that there exist a country and technology level learning effect, either when installing an existing CSP technology in a new country or when using a new technology in an existing CSP country, which seems to impact market progress.

Original language	British English
Title of host publication	SolarPACES 2016
Subtitle of host publication	International Conference on Concentrating Solar Power and Chemical Energy Systems
ISBN (Electronic)	9780735415225
DOIs	https://doi.org/10.1063/1.4984552
State	Published - 27 Jun 2017
Event	22nd International Conference on Concentrating Solar Power and Chemical Energy Systems, SolarPACES 2016 - Abu Dhabi, United Arab Emirates Duration: 11 Oct 2016 → 14 Oct 2016

Publication series

Name	AIP Conference Proceedings
Volume	1850
ISSN (Print)	0094-243X
ISSN (Electronic)	1551-7616

Conference

Conference	22nd International Conference on Concentrating Solar Power and Chemical Energy Systems, SolarPACES 2016
Country/Territory	United Arab Emirates
City	Abu Dhabi
Period	11/10/16 → 14/10/16

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy
SDG 9 Industry, Innovation, and Infrastructure

Access to Document

10.1063/1.4984552

OpenUrl availability

Full text

Cite this

Musi, R., Grange, B., Sgouridis, S., Guedez, R., Armstrong, P., Slocum, A., & Calvet, N. (2017). Techno-economic analysis of concentrated solar power plants in terms of levelized cost of electricity. In SolarPACES 2016: International Conference on Concentrating Solar Power and Chemical Energy Systems Article 160018 (AIP Conference Proceedings; Vol. 1850). https://doi.org/10.1063/1.4984552

@inproceedings{444879bec18e4a208097529f9f35f373,

title = "Techno-economic analysis of concentrated solar power plants in terms of levelized cost of electricity",

abstract = "Levelized Cost of Electricity (LCOE) is an important metric which provides one way to compare the economic competitiveness of different electricity generation systems, calculated simply by dividing lifetime costs by lifetime production. Hidden behind the simplicity of this formula are various assumptions which may significantly alter results. Different LCOE studies exist in the literature, although their assumptions are rarely explicitly stated. This analysis gives all formulas and assumptions which allow for inter-study comparisons. The results of this analysis indicate that CSP LCOE is reducing markedly over time and that given the right location and market conditions, the SunShot 6¢/kWh 2020 target can be reached. Increased industrial cooperation is needed to advance the CSP market and continue to drive down LCOE. The results also indicate that there exist a country and technology level learning effect, either when installing an existing CSP technology in a new country or when using a new technology in an existing CSP country, which seems to impact market progress.",

author = "Richard Musi and Benjamin Grange and Sgouris Sgouridis and Rafael Guedez and Peter Armstrong and Alexander Slocum and Nicolas Calvet",

note = "Publisher Copyright: {\textcopyright} 2017 Author(s).; 22nd International Conference on Concentrating Solar Power and Chemical Energy Systems, SolarPACES 2016 ; Conference date: 11-10-2016 Through 14-10-2016",

year = "2017",

month = jun,

day = "27",

doi = "10.1063/1.4984552",

language = "British English",

series = "AIP Conference Proceedings",

booktitle = "SolarPACES 2016",

}

Musi, R, Grange, B, Sgouridis, S, Guedez, R, Armstrong, P, Slocum, A & Calvet, N 2017, Techno-economic analysis of concentrated solar power plants in terms of levelized cost of electricity. in SolarPACES 2016: International Conference on Concentrating Solar Power and Chemical Energy Systems., 160018, AIP Conference Proceedings, vol. 1850, 22nd International Conference on Concentrating Solar Power and Chemical Energy Systems, SolarPACES 2016, Abu Dhabi, United Arab Emirates, 11/10/16. https://doi.org/10.1063/1.4984552

Techno-economic analysis of concentrated solar power plants in terms of levelized cost of electricity. / Musi, Richard; Grange, Benjamin; Sgouridis, Sgouris et al.
SolarPACES 2016: International Conference on Concentrating Solar Power and Chemical Energy Systems. 2017. 160018 (AIP Conference Proceedings; Vol. 1850).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

T1 - Techno-economic analysis of concentrated solar power plants in terms of levelized cost of electricity

AU - Musi, Richard

AU - Grange, Benjamin

AU - Sgouridis, Sgouris

AU - Guedez, Rafael

AU - Armstrong, Peter

AU - Slocum, Alexander

AU - Calvet, Nicolas

PY - 2017/6/27

Y1 - 2017/6/27

N2 - Levelized Cost of Electricity (LCOE) is an important metric which provides one way to compare the economic competitiveness of different electricity generation systems, calculated simply by dividing lifetime costs by lifetime production. Hidden behind the simplicity of this formula are various assumptions which may significantly alter results. Different LCOE studies exist in the literature, although their assumptions are rarely explicitly stated. This analysis gives all formulas and assumptions which allow for inter-study comparisons. The results of this analysis indicate that CSP LCOE is reducing markedly over time and that given the right location and market conditions, the SunShot 6¢/kWh 2020 target can be reached. Increased industrial cooperation is needed to advance the CSP market and continue to drive down LCOE. The results also indicate that there exist a country and technology level learning effect, either when installing an existing CSP technology in a new country or when using a new technology in an existing CSP country, which seems to impact market progress.

AB - Levelized Cost of Electricity (LCOE) is an important metric which provides one way to compare the economic competitiveness of different electricity generation systems, calculated simply by dividing lifetime costs by lifetime production. Hidden behind the simplicity of this formula are various assumptions which may significantly alter results. Different LCOE studies exist in the literature, although their assumptions are rarely explicitly stated. This analysis gives all formulas and assumptions which allow for inter-study comparisons. The results of this analysis indicate that CSP LCOE is reducing markedly over time and that given the right location and market conditions, the SunShot 6¢/kWh 2020 target can be reached. Increased industrial cooperation is needed to advance the CSP market and continue to drive down LCOE. The results also indicate that there exist a country and technology level learning effect, either when installing an existing CSP technology in a new country or when using a new technology in an existing CSP country, which seems to impact market progress.

UR - https://www.scopus.com/pages/publications/85023603983

U2 - 10.1063/1.4984552

DO - 10.1063/1.4984552

M3 - Conference contribution

AN - SCOPUS:85023603983

T3 - AIP Conference Proceedings

BT - SolarPACES 2016

T2 - 22nd International Conference on Concentrating Solar Power and Chemical Energy Systems, SolarPACES 2016

Y2 - 11 October 2016 through 14 October 2016

ER -

Techno-economic analysis of concentrated solar power plants in terms of levelized cost of electricity

Abstract

Publication series

Conference

UN SDGs

Access to Document

OpenUrl availability

Other files and links

Fingerprint

Cite this