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Economic assessment and optimal operation of CSP systems with TES in California electricity markets

Abstract:

The economics and performance of concentrated power (CSP) systems with thermal energy storage (TES) inherently depend on operating policies and the surrounding weather conditions and electricity markets. We present an integrated economic assessment framework to quantify the maximum possible revenues from simultaneous energy and ancillary services sales by CSP systems. The framework includes both discrete start-up/shutdown restrictions and detailed physical models. Analysis of coinci-dental historical market and meteorological data reveals provision of ancillary services increases market revenue 18% to 37% relative to energy-only participation. Surprisingly, only 53% to 62% of these revenues are available through sole participation in the day-ahead market, indicating significant opportunities at faster timescales. Motivated by water-usage concerns and permitting requirements, we also describe a new nighttime radiative-enhanced dry-cooling system with cold-side storage that consumes no water and offers higher effciencies than traditional air-cooled designs. Operation of this new system is complicated by the cold-side storage and inherent coupling between the cooling system and power plant, further motivating integrated economic analysis.