BAKU, Azerbaijan, July 15. The global average capacity factor of concentrating solar power (CSP) in 2021 surged year-on-year - to 80 percent (42 percent in 2020), Trend reports via the latest publication from the International Renewable Energy Agency (IRENA).
“The global weighted average capacity factor of newly-commissioned CSP plants increased from 30 percent in 2010 to 42 percent in 2020, as the technology improved, costs for thermal energy storage declined and the average number of hours of storage for commissioned projects increased,” the report said.
Meanwhile, the global average cost for electricity from CSP plants from 2010 through 2021 decreased by 68 percent - from $0.358 per kWh to $0.114 per kWh
“During 2021, however, these total installed costs increased to $9,090 per kW – just 4 percent lower than in 2010. Yet, this value should be interpreted with care, as there was only one project worldwide that came online in 2021. Located in the Atacama Desert in Chile, the Cerro Dominador project boasts 17.5 hours of storage. This project meant a very high capacity factor value for 2021 - at 80 percent," the report added.
As the IRENA noted, “CSP plants are also now routinely being designed to meet evening peaks and overnight demand. CSP with low-cost thermal energy storage can integrate higher shares of variable solar and wind power, meaning that while often underrated, CSP could play an increasingly important role in the future”.
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