Joel Link - GW Solar Symposium 2012

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Joel Link - GW Solar Symposium 2012

  1. 1. Portfolio Diversification and the Valueof Solar Thermal with Storage The George Washington University Solar Institute April 12, 2012 Copyright © 2012 SolarReserve. All Rights Reserved.
  2. 2. SolarReserve – CSP and PV Solar Projects Geographically diverse portfolio of more than 3,000 MW of CSP projects  Three lead projects (310 MW) – Power Purchase Agreements with $5.5 billion in projected revenues  Late stage projects represent more than 600 MW under permitting  25 sites and more than 150,000 acres under control Expanded into Photovoltaic activities in early 2009 development pipeline of more than 1,500 MW  Primarily in the 5MW to 20 MW capacity proposed over 40 different sites across the US  Several large scale PV projects in the 50 MW to 200MW capacity range  Two 75MW projects awarded to SolarReserve in South Africa in December of 2011 Copyright © 2012 SolarReserve. All Rights Reserved.
  3. 3. SolarReserve’s Global Reach Copyright © 2012 SolarReserve. All Rights Reserved.
  4. 4. SolarReserve CSP Solar Energy Plants640 foot tall towerMore than 10,000 heliostats Project Rendering Copyright © 2012 SolarReserve. All Rights Reserved.
  5. 5. Crescent Dunes Solar Energy Project Location: Tonopah, Nevada Technology: Concentrated Solar Power with Thermal Energy Storage Size: 110 MW Power Contract: NV Energy Energy Production: 500,000 MW hours annually Site: ~ 1,600 acres Transmission: 9.5 miles Fuel: Sunlight Copyright © 2012 SolarReserve. All Rights Reserved.
  6. 6. Firm, Non-Intermittent Renewable Energy Trough 100% Molten Salt Power Tower (8 Hours Generation Profile) 80% PVPercent Load 60% Molten Salt Power Tower 40% (16 Hours Generation Profile) 20% 0% 6:00 8:00 10:00 12:00 14:00 16:00 18:00 20:00 22:00 Time of Day Decoupling of power generation and energy collection provides stable and reliable power output Copyright © 2012 SolarReserve. All Rights Reserved.
  7. 7. CSP with Storage’s Unrecognized Value  CSP with molten salt storage contributes value in ways that are unrecognized in most renewable procurement processes High capacity factor leads to higher utilization of Less environmental impact and societal transmission lines infrastructure cost Known cost of energy and ancillary services Hedge vs. price volatility in energy and ancillaries Tolerant to curtailment Enables higher penetration of PV, protecting against ramping constraints Dispatch flexibility Can change delivery profile mid-life to adjust to new market conditions Jobs More long-term operational jobs than PV or wind Uncompensated benefits of a steam turbine Provides VARs, inertia, governor response, etc.Requires no fossil fuel backup due to high capacity Avoids long-term dependency on fossil fuels and value and reliability related emissions Can make real-time dispatch decisions More responsive to the grid’s price signals, delivering greater value to the ratepayer Copyright © 2012 SolarReserve. All Rights Reserved.
  8. 8. Advantages of CSP Technology with Storage Unlike wind and photovoltaics, provides firm, non-intermittent supply power without the use of fossil fuels Can replace conventional dispatchable power supply such as coal, natural gas and nuclear Allows power delivery profile to be tailored to exactly meet utility requirements  Provides “more valuable” electricity  Example: PG&E (California) “super peak” period is from 1PM to 8PM  24 hour supply available Overall results in more efficient, effective and reliable power supply  Inherent thermal energy storage allows for power on demand, even after dark  Typically 10 to 16 hours of storage per project depending on utility requirements Substantial increase in efficiency and capacity factors – 50% to 80% capacity factors as compared to PV or wind which typically operates at 25% to 40%. Copyright © 2012 SolarReserve. All Rights Reserved.
  9. 9. Molten Salt vs. Direct Steam and Trough Molten Salt Tower Direct Steam Tower Solar Trough Inherent storage (no  No inherent energy storage  No inherent energy efficiency loss)  Significant efficiency loss storage Dispatchable, on-demand for bolt-on storage  Significant efficiency loss generation  Intermittent generator for bolt-on storage No natural gas required for during transient weather  Intermittent generator operations or steam  Natural gas required to  Natural gas required for consistency “prop up” system – issues operations – issues of Predictable and efficient of gas cost, emissions, gas cost, emissions, steam cycle availability of nearby availability of nearby Dry cooling can be pipeline supply pipeline supply implemented efficiently  Receiver must handle  Smaller temperature Low-pressure salt system water/steam phase change ‘capture range’ with  High pressure system Therminol throughout  Limited economies of scale in core collector geometryBest-in-class design with Benefits of central tower Mature technology but significant but hobbled by steam highest cost with limitedcost/performance upside system limitations improvement upside Copyright © 2012 SolarReserve. All Rights Reserved.
  10. 10. Estimated Value of Storage National Renewable Energy Laboratory estimates CSP with storage will deliver a value of 1.6 - 4.0 ¢ / kWh over other solar generation in Western US Value is higher on smaller grids with higher sensitivity to intermittency, higher natural gas prices, higher renewable penetration, etc. High-value power resource, eliminating need for conventional power resources Copyright © 2012 SolarReserve. All Rights Reserved.
  11. 11. Contact Information Corporate Headquarters: 2425 Olympic Blvd.www.solarreserve.com Suite 500 East Santa Monica, CA 90404Joel M. Link Phone: (310) 315-2200Vice President of Development Toll-Free: (866) 622-2778 Fax: (310) 315-2201joel.link@solarreserve.com European Headquarters (UK): Phone: +44 (0)1242 261 200 Fax: +44 (0)1242 261 900 Copyright © 2012 SolarReserve. All Rights Reserved.

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