Thermo-economic analysis and sizing of a PV plant equipped with a compressed air energy storage system

Photovoltaic (PV) farms are widely used around the world to provide required electricity. Compressed air energy storage (CAES) system has been already proposed for energy storage applications in large scales. In this work, employing a CAES unit equipped with an ancillary solar heating system for a large scale PV farm in Brazil is proposed. A PV farm with 100 MWp (megawatt peak) capacity is proposed to be built in the most suitable point within Brazil. The sizing of the CAES unit and the solar heating system, which has not been investigated, along with selecting the best power sales strategy for the power plant, which has been always a challenge for renewable energy source power plants, are carried out emphasizing energy-economic considerations. In order to prove the proficiency of the proposal, the performance of the power plant and energy storage unit is assessed over a sample year. In order to have a comprehensive economic analysis, Net Present Value (NPV) method is employed and all the possible uncertainties in the system have been taken into account.