Technoeconomic Evaluation of Electricity Generation from Concentrated Solar Power Technologies in Ghana

This work estimates the annual energy that could be generated from a concentrated solar power (CSP) plant. The optimal location used for this analysis was selected based on a set of multicriteria decision-making (MCDM) methods employed in an earlier research. The paper also determines the financial viability of implementing a CSP plant within the selected location. A 100 MW CSP plant for the said location was modelled and simulated using the System Advisor Model (SAM) software with data from the online database of the National Renewable Energy Lab (NREL) available from the SAM software. Using a solar multiple of 2.0 with a TES of 6 hours, the plant generated an estimated annual energy of 306.850 GWh with a capacity factor of 35.10% and gross-to-net conversion of 89.10%. The months with the highest generation were from November to March while July to September had the least generation. Generation begins from 8 am, rising to a peak around 12 pm to 4 pm and gradually declines into the night. Results from the financial analysis produced a net present value (NPV) of USD 156,287,433.72 after the plant life of 25 years, indicating profitability of the project. Results from the sensitivity analysis showed that the project NPV became negative only when the base case capital cost, electricity price, and revenue were, respectively, increased by 15%, reduced by 10%, and reduced by 13%.