Concentrated solar power (CSP) is a leading renewable energy technology, and the parabolic trough (PT) is one of the most used configurations of CSP. In the present study, the performance improvement and energy cost reduction of a 50 MWe PT plant for Abu Dhabi, United Arab Emirates (UAE) is presented. The simulations were carried out using the System Advisor Model software. The analyses of a PT plant with different technologies/parameters are undertaken in the first instance for seven cases. These cases include solar multiple, solar collectors, receivers, heat transfer fluid, cooling system (evaporative and air-cooled), thermal energy storage system (4−12 h), and fossil dispatch mode (0.25 to 1.0). Based on these analysis, the eighth case, which is found to be the best-case scenario in this study, was considered by taking into account the best of preceding case results and was determined to be the most suitable both in terms of performance and cost reduction. It is, therefore, concluded from this study that the utilization of CSP plants with a proper selection of technology could help reduce energy costs and environmental pollution, enhance system performance, and meet energy demands effectively.