Impacts of solar intensity on the techno-economic feasibility of high temperature particle receiver technology

Abstract The influence of solar intensity and carbon reduction credits on the techno-economic feasibility of high-temperature particle receiver technology for process heat applications has been assessed. The required sizes of the particle receiver, heliostat field, and other associated components are determined under varying solar intensities for an industrial process operating at a temperature of 1000oC. Based on the determined size of each component, the associated initial and operating and management costs have been estimated, corresponding to each value of solar intensity. The sensitivity of the techno-economic indicators, including the internal rate of return, payback period, net present value, annual life savings, and benefit to cost ratio, to direct normal irradiance varying from 100 of 1000 W/m2 has been assessed using the RETScreen simulation tool. Furthermore, new insights have been provided into the influence of possible carbon reduction credits on the techno-economic viability of particle receiver-based CST. The present research will help to determine both the range of available direct normal irradiance for particle receiver solar thermal technology to be a techno-economically feasible system for process heat applications, and its sensitivity to carbon reduction credits.