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Concentrated Solar Power (CSP) systems are able to store energy cost-effectively in their integrated thermal energy storage (TES). By intelligently combining Photovoltaics (PV) systems with CSP, a further cost reduction of solar power plants is expected, as well as an increase in dispatchability and flexibility of power generation. PV-powered Resistance Heaters (RH) can be deployed to raise the temperature of the molten salt hot storage from 385 °C up to 565 °C in a Parabolic Trough Collector (PTC) plant. To avoid freezing and decomposition of molten salt, the temperature distribution in the electrical resistance heater is investigated in the present study. For this purpose, a RH has been modeled and CFD simulations have been performed. The simulation results show that the hottest regions occur on the electric rod surface behind the last baffle. A technical optimization was performed by adjusting three parameters: Shell-baffle clearance, electric rod-baffle clearance and number of baffles. After the technical optimization was carried out, the temperature difference between the maximum temperature and the average outlet temperature of the salt is within the acceptable limits, thus critical salt decomposition has been avoided. Additionally, the CFD simulations results were analyzed and compared with results obtained with a one-dimensional model in Modelica.
Explorer CEOs: The effect of CEO career variety on large firms’ relative exploration orientation
(2018)
Prior studies demonstrate that firms need to make smart trade-off decisions between exploration and exploitation activities in order to increase performance. Chief executive officers (CEOs) are principal decision makers of a firm’s strategic posture. In this study, we theorize and empirically examine how relative exploration orientation of large publicly listed firms varies based on the career variety of their CEOs – that is, how diverse the professional experiences of executives were prior to them becoming CEOs. We further argue that the heterogeneity and structure of the top management team moderates the impact of CEO career variety on firms’ relative exploration orientation. Based on multisource secondary data for 318 S&P 500 firms from 2005 to 2015, we find that CEO career variety is positively associated with relative exploration orientation.
Interestingly, CEOs with high career varieties appear to be less effective in pursuing exploration, when they work with highly heterogeneous and structurally interdependent top management teams.