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New Concepts FOR Organic Rankine Cycle Power Systems

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New Concepts FOR Organic Rankine Cycle Power Systems ( new-concepts-for-organic-rankine-cycle-power-systems )

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Design of CSP Plants with Optimally Operated Thermal Storage as shown in Eq. 20a, the sum of direct-costs (DC) and indirect ones (IC), respectively defined as DC = (SI + SF + BOP + PB + TES + TOW + REC) (1 + contin. 100 The first two terms in Eq. 21 account for the solar field costs, in terms of site improvement SI and of heliostats cost SF, as SI = ASF SIcoeff and SF = ASF SFcoeff, respectively. Similarly, BOP and PB account for the cost of the Balance Of Plant and of the power block, as BOP = Wel, gross BOPcoeff and PB = Wel,gross PBcoeff. TES relates the storage system cost to its capacity in terms of thermal energy, i.e TES = Wel,gross TEScoeff . The tower cost is evaluated by multiplying a fixed cost compo- nent to an exponential function of the tower height, i.e., TOW = EXP (TOWscaling HTOW) TOWfixed. The receiver cost is found by multiplying the cost of a reference component (i.e., RECref) by the corresponding surface ratio, i.e., REC = RECref (AREC/AREC, ref)RECscaling . A contingency factor (i.e. “contin”.) is also considered. As shown in Eq. 22, the indirect costs account for the Engineering-Procurement-Construction Costs (EPC), calculated as a percentage rEPC of the direct costs. The land cost term LC is eval- uated by applying the unit cost coefficient rland to the total land area needed (see Tab. 3). The sales tax Stax is a one-time tax included in the project total installed cost, and therefore in the depreciable basis (see in the following), and is calculated on a fraction of the direct costs as Stax = DC (basesales tax/100) (rsales tax/100). Regarding the financing scheme, a fraction fdebt of the total installed cost is assumed to be borrowed. This initial debt is payed back through annual amounts (i.e. “debt repaym.”), calculated by using the levelized mortgage payment methodology, i.e., by assuming constant payments on principal amount over the loan term Nloan at the rate rloan. The payment of interests is evaluated by applying the same rate on the remaining debt, through annual amounts (i.e. “debt int. paym.”). For the calculation of the cash flows for the following years of the analysis, i.e., when 0 < n ≤ N, Eq. 20c applies (the dependency from n, common to all terms, is not explicitly indicated in the following in order to improve readability). The first term accounts for the operating income the project generates in the nth year, i.e., op. inc. = Rev − (O&Mcap + O&Mgen + insurance) . (23) Rev indicates the yearly revenue from sold electricity, i.e., for the 1st year, the performance indicator used throughout §6.5. Thus, an annual average value for the energy price PE can be defined as PE = E/Rev, with E being the sold energy. These values are used as the basis for the analysis and, for the following years (i.e., for 1 < n ≤ N), the plant revenue is calculated as Rev = Ecorr/PE,corr, whereby Ecorr corrects E accounting, year after year, for the degradation of performance rperf. degr., and PE, corr applies the annual PPA price escalation rate rPPA, escalation to PE. Furthermore, both quantities are yearly inflated by considering the iinfl rate. The O&Mcap and O&Mgen terms in Eq. 23 refer to the operating and maintenance costs related to the plant nameplate power capacity and the generated energy E, and are evaluated by multiplying these quantities by the corresponding coefficients O&Mcap,coeff and O&Mgen,coeff. Also the annual insurance cost is considered as an operating expense (therefore reducing the taxable income, see the following), and is calculated as a percentage rinsurance of the total installed costs (i.e., DC+iC) . For the years of the analysis following the first, all the quantities appearing between brackets in Eq. 23 are recalculated accounting for inflation. The second term in Eq. 20c refers to a global annual income tax, which applies to a percentage ) , (21) IC = EPC+LC+Stax . (22) 167

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