Techno-Economic Analysis of Solar Tower Aided Coal-Fired Power Generation System

In this paper, we conduct a techno-economic analysis of a 1000 MWe solar tower aided coal-fired power generation system for the whole life cycle. Firstly, the power output (from coal and solar thermal energy) under variable direct normal irradiance and grid demand are studied. Secondly, a financial assessment is performed, including profits and losses of the plant project. Thirdly, sensitivity analysis is taken on some external factors that can affect the cost or profits and losses of the plant project. The results indicate that the project has high profits with an internal rate of return (IRR) of 8.7%. In addition, the effects of solar tower field cost, power purchase agreement (PPA) price of solar thermal electricity, coal price, and the interest rate of debt on the main criteria decrease gradually. Therefore, it is better to improve solar tower technology first, and then look for low-interest debts from banks to cope with the reduction of PPA price of solar thermal electricity and the increase of coal price. Despite the introduction of solar tower field increasing levelized cost of electricity (LCOE), it contributes to the reduction of CO2 capture cost compared to the case of standard coal-fired power plants.