Optimized dispatch in a first-principles concentrating solar power production model

The novelty in this work lies in the successful integration of a dispatch optimization model into a detailed techno-economic analysis tool, specifically, the National Renewable Energy Laboratory's System Advisor Model (SAM). The MIP produces an optimized operating strategy, historically determined via a heuristic. Using several market electricity pricing profiles, we present comparative results for a system with and without dispatch optimization, indicating that dispatch optimization can improve plant profitability by 5-20% and thereby alter the economics of concentrating solar power technology. While we examine a molten salt power tower system, this analysis is equally applicable to the more mature concentrating solar parabolic trough system with thermal energy storage.