Thermodynamic and financial assessment of concentrated solar power plant hybridized with biomass-based organic Rankine cycle, thermal energy storage, hot springs and CO2 capture systems

Abstract

Abstract The present study aims to investigate the thermodynamic and financial aspect of concentrated solar power (CSP) plant hybridized with biomass-based organic Rankine cycle (ORC), thermal energy storage (TES), hot springs and CO2 capture systems. The organic working fluids namely R123, R235fa, D4 and MDM are selected for designing the hybrid system at different operating conditions. The nominal power capacities of the CSP and biomass ORC plants are 1.3 MW and 730 kW respectively. Additionally, a parametric study has been carried out to understand the influencing parameters that affect the system’s performance. From the results, it is revealed that the biomass ORC plant with a hot spring system alone can develop a power of 720 and 640 kW for D4 and MDM respectively. Furthermore, the power generation can be increased with addition of TES in the CSP plant. From the economic point of view, the hybrid system with special focus on CO2 capture could be very profitable if the levelized cost of electricity (LCOE) is fixed at 0.24$/kWh. In this scenario, the payback period is 8 years with an internal rate of return (IRR) more than 8%. Therefore, the hybrid system is thermodynamically and financially attractive for dispatchable electricity.