A Techno-Economic Analysis of Parabolic Trough Collector (PTC) and Solar Power Tower (SPT) as Solar Energy in Malaysia
Malaysia receives an annual average of 2200 hours of solar radiation, making her abundant renewable resources to generate electricity. Thus, a good planning is required to manage the resources efficiently and to utilize the abundant resources fully. Concentrating solar power (CSP) technology is a possible approach to manage renewable resources in Malaysia. Using a techno-economic analysis, the researchers, engineers, industries, or government agencies will be able to identify contributing and discouraging factors of building the CSP technology. This paper presents a techno-economic analysis of two CSP technology: parabolic trough collector (PTC) and solar power tower (SPT), for potential implementation in Malaysia. This paper provides information on two CSP technologies to researchers and industries prior to the planning and design stages. The techno-economic analysis begins with identifying potential locations based on the direct normal irradiation (DNI). Kuah, Kuantan, Miri and Labuan are identified as the potential locations using the RETScreen Expert software. Labuan could be the most promising PTC and SPT technology project because it has the highest DNI received annually. Next, the techno-economic analysis uses two reference projects, ANDASOL-1 and PS-10 systems in Spain, as references for all locations. The techno-economic analysis consists of annual electricity generation, unit cost of electricity, net Present Value (NPV), benefit-to-cost ratio (B/C), internal rate of return (IRR), and payback period calculated in Microsoft Excel. Finally, a sensitivity analysis is conducted to measure the impact of uncertainties of one or more input variables, leading to uncertainties on the output variables. Two sensitive factors are the annual electricity generation and the initial cost, affecting the construction, installation, and implementation of PTC or SPT technology.
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