Comparing the Net Cost of CSP-TES to PV Deployed with Battery Storage
Concentrated solar power with thermal energy storage (CSP-TES) is a unique source of renewable energy in that its energy can be shifted over time and it can provide the electricity system with dependable generation capacity. In this study, we provide a framework to determine if the benefits of CSP-TES (shiftable energy and the ability to provide firm capacity) exceed the benefits of PV and firm capacity sources such as long-duration battery storage or conventional natural gas combustion turbines (CTs). The results of this study using current capital cost estimates indicate that a combination of PV and conventional gas CTs provides a lower net cost compared to CSP-TES and PV with batteries. Some configurations of CSP-TES have a lower net cost than PV with batteries for even the lowest battery cost estimate. Using projected capital cost targets, however, some configurations of CSP-TES have a lower net cost than PV with either option for even the lowest battery cost estimate. The net cost of CSP-TES varies with configuration, and lower solar multiples coupled with less storage are more attractive at current cost levels, due to high component costs. However, higher solar multiples show a lower net cost using projected future costs for heliostats and thermal storage materials.
- Research Organization:
- National Renewable Energy Lab. (NREL), Golden, CO (United States)
- Sponsoring Organization:
- USDOE Office of Energy Efficiency and Renewable Energy (EERE), Renewable Power Office. Solar Energy Technologies Office
- DOE Contract Number:
- AC36-08GO28308
- OSTI ID:
- 1257756
- Report Number(s):
- NREL/CP-6A20-64716
- Resource Relation:
- Conference: Presented at SOLARPACES 2015: International Conference on Concentrating Solar Power and Chemical Energy Systems, 13-16 October 2015, Cape Town, South Africa; Related Information: Proceedings of SOLARPACES 2015: International Conference on Concentrating Solar Power and Chemical Energy Systems, 13-16 October 2015, Cape Town, South Africa
- Country of Publication:
- United States
- Language:
- English
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