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Chapter 6 previously published results [20]. However, this induces a gain of ≈ 11% in terms of NPV, with NPVmax = 103 M$, as shown by the red-dotted line in Fig. 6.5. The black curves account for the impact of the optimal operating strategy on the project NPV as well but, in this case, what is being evaluated is the reduction in the investment it enables (see, e.g., Fig. 6.4b, black lines). As expected, the NPV is in general larger than the one characterizing the base-case, and this gain grows for larger TES system capacity. However, the gain results always lower than in the previous case, approaching the same value in the SM = 3.5 case. The factor determining this situation is the comparatively low specific cost of the storage system which, for a state-of-the-art system with SM = 2.5 and hTES = 15 eq. hours, accounts for approximately 10% of the total installed cost. Even though these conclusions are strongly influenced by the parameters adopted in the fi- nancial analysis, their validity is expected to hold under all the foreseeable realistic scenarios for state-of-the-art systems. 6.6 Conclusions Concentrated solar power plants with thermal storage are a promising technology, increasingly considered as an option for widespread conversion of renewable energy. In a context of time-varying tariffs, the storage system can be used to shift the production to the most profitable hours, exploiting the dispatchability capabilities of this technology. The aim of the work presented here was to assess the potential of optimal control techniques, applied to the storage operation, to increase the profitability of the plant. To this end, the model of a state-of-the-art central receiver plant has been developed using high-level modelling languages, based on data available in the literature and in the SAM reference software. Optimal control problems have then been formulated and solved. The different operating strategies are compared based on a detailed financial analysis over the project life-time. A wide system design space is considered, and the results are presented for all the foreseeable combinations of solar field size and storage system capacity. A novel methodology is introduced, which allows to properly assess the potential of optimal control in terms of both the increased revenue and the reduced investment cost it allows for. In other words, it becomes possible to evaluate the influence of the operating strategy on the system design. It is demonstrated that optimal control should be taken into account when estimating the potential plant revenue since its design and sizing phase. This constitutes a new tool in the designer’s hands who, depending on the specific project characteristics and financial framework, may be keen on favouring a larger electricity production or a comparatively lower investment cost. In summary, the main findings of the work are: • Forstate-of-theartsystemsoperatinginacontextoftime-varyingtariffs,itseemsprofitable to exploit optimal control to the end of increasing electricity production. This is mainly due to the comparatively low impact of the storage system cost on the investment. On a yearly basis, an average gain in the revenue of the order of 5% is obtained with respect to usually adopted short-sighted strategies. However, this figure is amplified to more than 10% in terms of net present value of the investment when applying the complete financial analysis presented here. Notably however, the storage capacity for which maximum profitability occurs seems to be independent from the considered operating strategy. • The potential of optimal control in terms of investment cost reduction has been unveiled for the first time. For the case-study technology considered, this follows the possibility of harvesting the same revenue with a smaller storage capacity. Even if this solution is 162PDF Image | New Concepts FOR Organic Rankine Cycle Power Systems
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