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Current energy mix and techno-economic analysis of concentrating solar power (CSP) technologies in Malaysia

Islam, Md Tasbirul, Huda, Nazmul, Saidur, R.
Renewable energy 2019 v.140 pp. 789-806
biogas, biomass, databases, discount rate, electricity, energy, energy policy, funding, manufacturing, meteorology, plant development, solar collectors, solar energy, Malaysia
This study performs a techno-economic analysis of concentrating solar power (CSP) technologies for Malaysia. The solar resource assessment was done by analyzing various rural and regional locations using NASA Surface Meteorology and Solar Energy database. Three different technologies, parabolic trough collector (PTC), solar power tower (SPT) and solar parabolic dish (SPD) were assessed under different economic criterions. Results based on the analysis show that PTC and SPT type plants are particularly suitable for locations at East and Peninsular Malaysia. However, considering simple payback, the net present value (NPV) and internal rate of return (IRR), it is found that PTC type CSP plant will be the most eligible for CSP plant development. Sensitivity analysis is performed to investigate the effect of the levelized cost of electricity (LCOE) on the various project discount rate. Regional renewable energy policy development and regulatory reform in feed-in-tariff (FiT), hybrid technology (PTC with biogas, solar PV and biomass) implementation, project financing under clean development mechanism (CDM) and lesson learned from international experience in local PTC equipment manufacturing are some of the crucial future policy outlooks that need to be applied for CSP technology implementation, as well as long-term sustainable renewable energy system development in the country.