Comparing the net cost of CSP TES to PV deployed with battery storage
Concentrated solar power with thermal energy storage (CSP TES) is a unique source of renewable energy in that its energy can be shifted over time and it can provide the electricity system with dependable generation capacity. In this study, we provide a framework to determine if the benefits of CSP TES (shiftable energy and the ability to provide firm capacity) exceed the benefits of PV and firm capacity sources such as long duration battery storage or conventional natural gas combustion turbines (CTs) The results of this study using current capital cost estimates indicate that a combination of PV and conventional gas CTs provides a lower net cost compared to CSP TES and PV with batteries. Some configurations of CSP TES have a lower net cost than PV with batteries for even the lowest battery cost estimate. Using projected capital cost targets, however, some configurations of CSP TES have a lower net cost than PV with either option for even the lowest battery cost estimate. The net cost of CSP TES varies w.