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Business interruption and loss of assets risk assessment in support of the design of an innovative concentrating solar power plant

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  • Amato, Andrea
  • Compare, Michele
  • Gallisto, Maurizio
  • Maccari, Augusto
  • Paganelli, Mauro
  • Zio, Enrico

Abstract

Concentrating Solar Power (CSP) plants are a promising technology of renewable energy production, as witnessed by the increasing public and private investments during the last decade. The assessment of the associated risks of business interruption (loss of production) and loss of assets due to the occurrence of undesired internal or external events, such as failures of components, unfavorable environmental conditions, etc., brings added values by informing design modifications and contributing to production assurance, for rational Company investments in these environmentally sustainable power plants. This work presents and applies a methodology for assessing the risks associated to a CSP of innovative design. The methodology is derived from traditional system risk analysis, specifically focused only on the economic consequences of the internal events of failure behavior of components. The innovation in the design considered is particularly aimed at augmenting the CSP intrinsic capability of being equipped with thermal storage systems by the introduction of a molten salt mixture as heat transfer fluid. This technology presents evident advantages in terms of system simplification and reduction of production costs but on the other hand introduces a risk factor with regards to the solidification of the salt mixture that occurs at about 240°C.

Suggested Citation

  • Amato, Andrea & Compare, Michele & Gallisto, Maurizio & Maccari, Augusto & Paganelli, Mauro & Zio, Enrico, 2011. "Business interruption and loss of assets risk assessment in support of the design of an innovative concentrating solar power plant," Renewable Energy, Elsevier, vol. 36(5), pages 1558-1567.
    • Handle: RePEc:eee:renene:v:36:y:2011:i:5:p:1558-1567
    DOI: 10.1016/j.renene.2010.10.019
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    Citations

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    Cited by:

    1. Manenti, Flavio & Ravaghi-Ardebili, Zohreh, 2013. "Dynamic simulation of concentrating solar power plant and two-tanks direct thermal energy storage," Energy, Elsevier, vol. 55(C), pages 89-97.
    2. Bachelier, Camille & Jäger, Wadim, 2019. "Thermal and hydraulic evaluation of a linear Fresnel solar collector loop operated with molten salt and liquid metal," Applied Energy, Elsevier, vol. 248(C), pages 207-216.
    3. Huiyue Diao & Majid Ghorbani, 2018. "Production risk caused by human factors: a multiple case study of thermal power plants," Frontiers of Business Research in China, Springer, vol. 12(1), pages 1-27, December.
    4. Damien Bazin & Nouri Chtourou & Amna Omri, 2019. "Risk management and policy implications for concentrating solar power technology investments in Tunisia," Post-Print hal-02061788, HAL.
    5. Michele Compare & Francesco Di Maio & Enrico Zio & Fausto Carlevaro & Sara Mattafirri, 2016. "Improving scheduled maintenance by missing data reconstruction: A double-loop Monte Carlo approach," Journal of Risk and Reliability, , vol. 230(5), pages 502-511, October.
    6. Zio, Enrico & Compare, Michele, 2013. "Evaluating maintenance policies by quantitative modeling and analysis," Reliability Engineering and System Safety, Elsevier, vol. 109(C), pages 53-65.

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