Transitioning to Solar Fuel Instead of Fossil Fuel in the Electricity Industry

Abstract

Abstract: This study confirms the economic feasibility and environmental benefits of using concentrated solar power (CSP) as an alternative fuel source for electricity generation in the gas-fired power plant at the Ubari station. This aims to promote sustainable development in the region by reducing oil depletion by a certain percentage and utilizing it in the petrochemical industries with higher economic returns. The System Advisor Model (SAM) program compared several technologies for generating electricity from concentrated solar energy, with varying hours and storage capacities. The levelized cost of energy (LCOE) was adopted as a reference for comparing the options. The results showed that the CSP technology of the solar heliostat field is the best, with an optimal solar energy mix of about 43.6% in the electricity generation system. The ideal design characteristics of the proposed generation system were obtained, including a CSP field capacity of about 400 MW, a thermal storage tank of 11,332 , and a total area of about 508 hectares required for field construction. The project capital cost is about $186,102,644, and the LCOE is about ¢13.48 for kWh production. The amount of crude oil saved annually was estimated to be about 3,187,726 barrels, representing about $243,637,912. The annual amount of CO2 prevented from being released into the atmosphere was estimated to be about 1,735,060 tons per year, with an estimated environmental damage cost of about $130,129,247 annually.