Technical and Economic Study for Electricity Production by Concentrated Solar Energy and Hydrogen Storage

Abstract

Renewable Energy Sources are still in continual progress to be used for electricity production, the most important of which is Concentrated Solar Energy, which has played a prominent role during the past years for electricity production. However, focusing on economic aspect remains important to ensure the implementation of these projects, as many countries focus on necessary cost of investing projects and electricity cost resulting from these modern technologies. In this study, we will present a survey and economic analysis of electricity production by concentrated solar energy in two technological systems: Stirling Dish, and Power Tower, and use an advanced electricity storage system, which is hydrogen production and storage. levelized Cost of Electricity (LCOE) will be calculated in order to know the Total Electrical Cost of producing and storing electricity in this hybrid system as a function of Investment cost It, Operation and maintenance cost (O&M), Interest price, and amount of Energy Produced. This system shows the possibility of application to produce electricity at low prices in terms of cost, as the cost of electricity produced from this hybrid system ranged between 0.112 and 0.172 $/kWh, which is a competitive cost that ensures the possibility of application and investment in addition to electricity production in sustainable and environmentally friendly methods.