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7.1 CSP CAPITAL COSTS The current CSP market is dominated by PTC technologies which are used in more than 80% of CSP power plants in operation or under construction. As a consequence, most of the available cost information refers to parabolic trough systems. The cost data for parabolic trough systems are also the most reliable, although uncertainties still remain, because it is the most mature CSP technology. Current investment costs for PTC plants without storage in the OECD are between USD 4 700 and USD 7 300/kW (Hinkley, 2011; Turchi, 2010a and IRENA analysis), although plants in non‐OECD countries have capital costs as low as USD 3 100/kW. CSP plants with thermal energy storage tend to have higher investment costs, but allow higher capacity factors and potentially lower LCOEs (particularly for molten salt solar towers), while also having the ability to shift generation to when the sun does not shine and/or the ability to maximise generation at peak demand times. The cost of PTC and solar tower plants with thermal energy storage is generally between USD 6 400 and USD 10 700/kW (Table 7.1). These cost ranges, obtained from the available literature, are not inconsistent with estimates of recent plant commissioned in 2010 and 2011, or that are under construction. Figure 7.1 presents the estimated total installed capital costs of these recent projects, drawing on data in the media and various industry sources. The costs for parabolic trough systems without storage are at the higher end of the range identified in the literature, while those for plants with storage quite closely match the cost data found in the literature. Although CSP plants with thermal energy storage have higher specific investment costs (USD/kW) due to the storage system and the larger solar field, their greater capacity for electricity generation will generally result in a lower electricity generation cost. Energy storage should therefore be looked at carefully, as it can reduce the cost of electricity generated by CSP plants and increase electricity production (capacity factors). The breakdown of the capital costs of two proposed CSP plants in South Africa (one a parabolic trough and the other a solar tower) is presented in Figure 7.2. These plants have very similar total capital investments of USD 914 million for the parabolic trough system and USD 978 million for the solar tower system. The capital costs for the solar field and receiver system are a larger percentage of the total costs in solar tower systems than in PTC systems, while the thermal energy storage and power block costs are a smaller percentage. TABLE 7.1: CAPITAL COSTS AND KEY CHARACTERISTICS OF PARABOLIC TROUGH AND SOLAR TOWER PLANT26 Source Heat transfer fluid Solar multiple Storage (hours) Capacity factor (%) Cost (2011 USD/kW) Parabolic trough Turchi, 2010a Synthetic oil 1.3 0 26 4 700 Hinkley, 2011 Synthetic oil 1.3 0 23 7 300 Turchi, 2010a Synthetic oil 2 6 41 8 170 Turchi, 2010b Synthetic oil 2 6.3 47-48 9 140 – 10 020 Hinkley, 2011 Synthetic oil 2 6 43 7 900 Fichtner, 2010 Molten salt 2.8 4.5 50 7 535 2.5 9 56 7 710 3 13.4 67 9 330 Solar tower Ernst and Young/Fraunhofer, 2011 Molten salt 7.5 7 430 Turchi, 2010a Molten salt 1.8 6 43 6 430 Kolb, 2011 Molten salt 2.1 9 48 7 580 Hinkley, 2010 Molten salt 1.8 6 41 7 620 Fichtner, 2010 Molten salt 2 9 54 7 880 3 12 68 9 250 3 15 79 10 740 26 The solar multiple is the ratio of the thermal energy provided by the solar field, relative to what the power block requires for 100% operation when the sun is shining. The solar multiple is typically always slightly larger than one to ensure the power block is always fully utilised. Solar multiples significantly higher than one are associated with systems with thermal storage to allow the excess solar energy to be stored for use when the sun is not shining. Renewable Power Generation Costs in 2012: An Overview 59PDF Image | International Renewable Energy Agency
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