Concentrated Solar Power Solar Tower with Oversized Solar Field and Molten Salt Thermal Energy Storage Working at an Annual Average Capacity Factor of 95% in NEOM City

Herein, a design for a concentrated solar power (CSP) plant solar tower (ST) with thermal energy storage (TES) by molten salt (MS) in NEOM city, a 100% renewable energy planned development, is presented. The novelty of the design is the oversized solar field, as well as the TES, to produce nearly constant power output every day of the year, with minimal reductions only in the winter months. A 95% annual average capacity factor is estimated to be delivered by this ST plant at a levelized cost of electricity (LCOE) of 7.84 c kWh −1 . The CSP ST with 16 h of TES by MS is the best opportunity to deliver cost‐effective, fully dispatchable, reliable renewable energy, for both the economy and the environment. Other renewable energy options such as solar photovoltaic (PV) and wind may offer a lower LCOE even below 5 c kWh −1 , but once battery storage is factored for dispatchability, the real cost increases by 14 c kWh −1 . The proposed technology may deliver most of the electricity needed by NEOM city, with solar PV and wind plus batteries used for peak demand and to compensate for residual variability.