Concurrent Optimization of Component Capital Cost and Expected Operations and Management

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This project is developing and validating an open-source modeling and simulation tool that optimizes the design and operation for CSP plants by characterizing and forecasting operations and maintenance costs, component failure behavior, and the impact of design and maintenance policies. In addition, researchers will develop detailed performance and cost models leveraging the System Advisor Model, which is a performance and financial model designed to facilitate decision making for people involved in the renewable energy industry. These models will maximize profit through thermal storage dispatch optimization and will account for forecast uncertainty, heliostat and receiver stochastic degradation and failure, and operations and maintenance costs including steam turbine service.