Optimization of an atmospheric air volumetric central receiver system: Impact of solar multiple, storage capacity and control strategy

Portugal has a high potential for concentrated solar power and namely for atmospheric air volumetric central receiver systems (CRS). The solar multiple and storage capacity have a significant impact on the power plant levelized electricity cost (LEC) and their optimization and adequate control strategy can save significant capital for the investors. The optimized proposed volumetric central receiver system showed good performance and economical indicators. For Faro conditions, the best 4 MWe power plant configuration was obtained for a 1.25 solar multiple and a 2 h storage. Applying control strategy #1 (CS#1) the power plant LEC is 0.234 (sic)/kWh with a capital investment (CAPEX) of (sic) 22.3 million. The capital invested has an internal rate of return (IRR) of 9.8%, with a payback time of 14 years and a net present value (NPV) of (sic) 7.9 million (considering an average annual inflation of 4%). In the case of better economical indicators, the power plant investment can have positive contours, with an NPV close to (sic) 13 million (annual average inflation of 2%) and the payback shortened to 13 years. (C) 2013 Elsevier Ltd. All rights reserved.