Renewable electricity generation systems have an increasing trend in terms of usage due to aiming to decrease greenhouse gas emissions and energy source diversification strategies of countries. Parabolic trough, Fresnel, and solar tower systems have been used to generate solar thermal electricity around the world. In this study, the effects of the selection of collector heat transfer fluid (HTF) and condenser type on a concentrated solar thermal power plant were analyzed. Net power, net electrical efficiency, and economic analysis were carried out for the selected HTFs for different collector outlet temperature cases. In the case of condenser type selection four different systems were considered; water cooled, air cooled (dry air) and air cooled with water spraying (spraying before fan and spraying before and after fan). Levelized cost of energy (LCOE) and specific investment cost were calculated. According to the results, specific investment cost and LCOE were found to be 4000 USD/kW(el) and 0.207 USD/kW h, respectively. Carbon tax/credit was also included to the calculations of LCOE and a comparison study was carried out for gas turbine, combined cycle and solar thermal power plant with thermal storage. Including carbon tax/credit to the LCOE shows that solar thermal power plant with heat storage can be competitive when compared to gas turbines. (C) 2015 Elsevier Ltd. All rights reserved.