D5.2 Modelling of individual component models of the overall RESTORE system and its techno- economic simulation (V2)

This document provides information about the modelling of individual components of the overall RESTORE system. Deliverable D5.2 is the result of the work carried out in task T5.2 (RESTORE techno-economic modelling of the integrated system, M9-M47), led by CENER, initiated in task T5.1 (Modelling of individual components of the overall RESTORE system, M7-M30), led by SIMTECH. The main purpose of this report is to describe the final version of the component models developed for the dedicated model library RESTORE_Lib, and to describe the process level of the overall RESTORE model, based on the TCES and on the rORC technologies, with the economic modelling of the system. Task T5.2 developed the project required models for system level simulation (yearly performance simulations, covering off-design performance of cycles and constraints due to transient behaviour) and for techno-economic analysis. The RESTORE sub-systems, with TCES and rORC technologies, were modelled using the customized RESTORE_Lib model library created in T5.1, enhanced with additional economic parameters, that are cost-correlations of the investment costs for the components. The systems were tested and optimized within the process simulation environment within the RESTORE virtual tool, powered by the IPSE GO web-platform. The economic model considered in the project is highly flexible, allowing the user to modify a high number of parameters that are considered for the economic simulations. In addition, the model receives information from the technical simulation to show as results relevant economic variables such as the Net Present Value, the Internal Return Rate and the Levelized Cost of Storage for Electricity and Heat. The information provided in this document builds upon collaboration between SIMTECH, CENER, TU-WIEN, and POL, as RESTORE partners involved in task T5.2. The development of task WP5-T5.2 received input from WP1-T1.4 & T1.7, WP2, WP3, WP4, and from WP5-T5.1, T5.4, T5.5.