Concentrating solar power (CSP) is an effective way to convert solar energy into electricity with an economic energy-storage capability for grid-scale, dispatchable renewable power generation. However, CSP plants need to reduce costs to be competitive with other power generation methods. Two ways to reduce CSP cost are to increase solar-to-electric efficiency by supporting a high-efficiency power conversion system, and to use low-cost materials in the system. The current nitrate-based molten-salt systems have limited potential for cost reduction and improved power-conversion efficiency with high operating temperatures. Even with significant improvements in operating performance, these systems face challenges in satisfying the cost and performance targets. This paper introduces a novel CSP system with high-temperature capability that can be integrated into a high-efficiency CSP plant and that meets the low-cost, high-performance CSP targets. Unlike a conventional salt-based CSP plant, this design uses gas/solid, two-phase flow as the heat-transfer fluid (HTF); separated solid particles as storage media; and stable, inexpensive materials for the high-temperature receiver and energy storage containment. We highlight the economic and performance benefits of this innovative CSP system design, which has thermal energy storage capability for base-load power generation. (C) 2015 The Authors. Published by Elsevier Ltd.