Evaluating the Economic Performance of Concentrated Solar Power (CSP) in Saudi

Abstract

This project aims to describe and conduct a feasibility study of concentrated solar power (CSP) harvesting in the Kingdom of Saudi Arabia (KSA). The study will investigate the feasibility of parabolic trough technology application with respect to site location. The factors which were considered in location choices are solar resources, demand, and logistical issues. Hitec Solar Salt and Therminol VP-1 will be compared as potential Heat Transfer Fluids (HTF) against the chosen site locations. A financial model consisting of LCOE, NPV, and IRR will be the grounds of comparison between locations and HTF. NREL’s System Advisor Model (SAM) was used to conduct all simulations. Majority of input variables were collected from existing literature. All comparisons and analysis of SAM outputs were compared in order to optimise economic performance. Results must to some extent comply with the “Saudi Vision 2030” initiatives.