A large number of industrial processes demand thermal energy in the temperature range of 80-240 degrees C. In this temperature range, solar thermal systems have a great scope of application. However, the challenge lies in the integration of a periodic, dilute and variable solar input into a wide variety of industrial processes. Issues in the integration are selection of collectors, working fluid and sizing of components. Application specific configurations are required to be adopted and designed. Analysis presented in this paper lays an emphasis on the component sizing. The same is done by developing a design procedure for a specific configuration. The specific configuration consists of concentrating collectors, pressurized hot water storage and a load heat exchanger. The design procedure follows a methodology called design space approach. In the design space approach a mathematical model is built for generation of the design space. In the generation of the design space, design variables of concern are collector area, storage volume, solar fraction, storage mass flow rate and heat exchanger size. Design space comprises of constant solar fraction curves traced on a collector area versus storage volume diagram. Results of the design variables study demonstrate that a higher maximum storage mass flow rates and a larger heat exchanger size are desired while limiting storage temperature should be as low as possible. An economic optimization is carried out to design the overall system. In economic optimization, total annualized cost of the overall system has been minimized. The proposed methodology is demonstrated through an illustrative example. It has been shown that 23% reduction in the total system cost may be achieved as compared to the existing design. The proposed design tool offers flexibility to the designer in choosing a system configuration on the basis of desired performance and economy. (C) 2008 Elsevier Ltd. All rights reserved.