Optimizing Concentrated Solar Power: High‐Temperature Molten Salt Thermal Energy Storage for Enhanced Efficiency

ABSTRACT Molten salts (MSs) thermal energy storage (TES) enables dispatchable solar energy in concentrated solar power (CSP) solar tower plants. CSP plants with TES can store excess thermal energy during periods of high solar radiation and release it when sunlight is unavailable, such as during cloudy periods or at night. This capability allows these plants to provide reliable, dispatchable power, ensuring a continuous electricity supply to the grid. This paper examines the challenges and opportunities of utilizing higher‐temperature molten salt formulations to enhance power cycle efficiency. Drawing on existing literature, performance analysis of existing power plants, and novel simulation results, we project the expected technological improvements by the end of this decade. By using 15 h of TES and a higher temperature MS formulation, with heat transfer fluid hot temperatures of 700°C, and a power cycle 350 bar 700°C of efficiency 48%, the annual electricity production from a 115 MW power plant in Daggett, California is 688 GWh, the total installed cost is $684 m while the 25‐year LCOE is 6.37 c/kWh.