A dynamic model of a megawatt-scale low-temperature intercooled-recuperated solar
gas-turbine power plant has been developed in order to allow determination of the thermodynamic and economic performance. The model was then used for multi-objective thermoeconomic optimization of both the power plant performance and cost, using a population-based algorithm. In order to examine the trade-offs that must be made and identify ‘optimal’ plant sizes and operating conditions, two conflicting objectives were considered, namely minimum investment costs and maximum annual electricity production. Levelized electricity costs from a 65 MWe power plant operating at 950 °C are predicted to be below 130 USD/MWhe , competitive with other solar thermal power technologies. Optimal plant sizes and configurations have been identified.