Economic viability of concentrated solar power under different regulatory frameworks in Spain

Economic viability of concentrated solar power under different regulatory frameworks in Spain Between 2004 and 2013, Spain applied a series of regulations that prompted a rapid expansion of the CSP sector. Most of this capacity was based on a proven technology that involved limited technical and financial risks (50 MWe, parabolic trough, synthetic HTF, 7.5 h thermal energy storage and wet cooling). This paper provides an introduction to CSP technology and a detailed review of these regulatory frameworks. This information has been used to evaluate the economic viability of a CSP plant representative of those deployed in Spain. The results evidence the limited competitiveness of this form of CSP, which is attributable not only to its elevated capital costs but also to high fixed operating costs per unit of output and limited revenues from power sales. Although generation capacity may be increased through hybridization with NG, this is also a loss making activity due to the limited efficiency of single cycle technology. With exceptions, the policy strategy followed in Spain had limited success at promoting technology advances with potential to achieve higher generation capacity, improved revenues, reduced costs and increased dispatchability. This form of CSP may still be attractive in isolated locations, where real power generation costs may be significantly higher. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Renewable and Sustainable Energy Reviews Elsevier

Economic viability of concentrated solar power under different regulatory frameworks in Spain

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Publisher
Elsevier
Copyright
Copyright © 2018 Elsevier Ltd
ISSN
1364-0321
D.O.I.
10.1016/j.rser.2018.03.017
Publisher site
See Article on Publisher Site

Abstract

Between 2004 and 2013, Spain applied a series of regulations that prompted a rapid expansion of the CSP sector. Most of this capacity was based on a proven technology that involved limited technical and financial risks (50 MWe, parabolic trough, synthetic HTF, 7.5 h thermal energy storage and wet cooling). This paper provides an introduction to CSP technology and a detailed review of these regulatory frameworks. This information has been used to evaluate the economic viability of a CSP plant representative of those deployed in Spain. The results evidence the limited competitiveness of this form of CSP, which is attributable not only to its elevated capital costs but also to high fixed operating costs per unit of output and limited revenues from power sales. Although generation capacity may be increased through hybridization with NG, this is also a loss making activity due to the limited efficiency of single cycle technology. With exceptions, the policy strategy followed in Spain had limited success at promoting technology advances with potential to achieve higher generation capacity, improved revenues, reduced costs and increased dispatchability. This form of CSP may still be attractive in isolated locations, where real power generation costs may be significantly higher.

Journal

Renewable and Sustainable Energy ReviewsElsevier

Published: Aug 1, 2018

References

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