Price of concentrated solar energy storage system

Concentrating solar power (CSP), when integrated with thermal energy storage (TES), can address both intermittency and storage needs by providing dispatchable renewable electricity.

However, enabling high solar penetration levels using energy storage systems is still an expensive solution , . In addition to solar cells, Concentrated Solar Power (CSP) plants, such as parabolic troughs and solar power tower plants, may be used to harness solar energy .

Concentrated solar power (CSP) deployment remains disappointing, with less than 0.1 GW added in 2022 and global cumulative capacity standing at 6.5 GW at the end of 2022. For the period 2010 to 2022, the global weighted‑average cost of newly commissioned CSP projects fell from USD 0.38/kWh to USD 0.118/kWh – a decline of 69%.

Renewable energy technology advancement has experienced significant progress due to increasing sustainable energy needs, especially in the concentrated solar power (CSP) sector. The CSP technology gathers power from sunlight by focusing it across an area with mirrors or lenses until the sunlight heats a receiver.

In these high solar penetration levels, using CSP resulted in a reduction of up to 65% in the net-LCOE. The results may enable researchers and policymakers to evaluate CSP with thermal energy storage as a cost-effective solution for achieving high penetration levels of solar electricity. 1. Introduction

It is demonstrated that storing excess PV electricity in low-cost thermal storage is valuable, enabling CSP configuration with solar multiple as low as 0.5 to operate with a high capacity factor.