This paper presents the essentials of low temperature thermal storage (LTTS), a novel technique whereby thermal energy storage is employed to achieve sub-ambient condensation in air-cooled Rankine cycle power plants. It summarises work which was undertaken to explore the potential and the range of application of LTTS. The technology is most effective at geographical locations with large average daily temperature ranges, and high summertime temperatures. Hourly normal temperature data was sourced for five potential deployment sites, which provided a representative sample of different climate types. A steam turbine, a condenser, an air-cooled heat exchanger, and a chilled water thermal energy storage tank formed the LTTS configuration - a techno-economic model of which was developed to simulate system behaviour. The size of the air-cooled heat exchanger, the fan speed of the air-cooled heat exchanger, and the hours of charge, discharge, and bypass of the thermal energy storage tank were all modelled as variables to determine the effects of component sizes and operating patterns. LTTS performance was benchmarked by comparison with a direct air-cooled condenser model. Results presented in this paper include daily plant output, annual power output, and payback period. This study shows that LTTS can deliver all the advantages of dry-cooling, without suffering the usual performance degradations. The inherent flexibility of LTTS allows for configurations to be customised to exploit the prevailing site climate, and capitalise on the local power demand pattern. There are also clear indications that, in suitable climatic settings, LTTS outperforms traditional air-cooled thermal power plants by offering up to 10% additional generating capacity. Coupled to this are payback periods as short as 2.5 years, ensuring LTTS can be considered a viable alternative to current air-cooling strategies.