This study presents an integrated receiver-level thermal–hydraulic and energy–exergy assessment of conventional Solar Salt and a 5 wt.% MgO–Solar Salt nanofluid in a three-dimensional parabolic-trough receiver. The novelty lies in systematically determining whether the experimentally characterized thermophysical-property modifications associated with MgO addition translate into receiver-level benefits across variations in receiver length, inlet temperature, and solar-thermal loading, while simultaneously considering heat-transfer performance, hydraulic demand, exergy destruction, and entropy generation. Steady turbulent flow was simulated for receiver lengths of 5, 6, and 7.5 m, inlet temperatures of 240–290 °C, and absorbed wall heat fluxes of 159.375, 178.125, and 225.000 kW m−2, corresponding to direct normal irradiance values of 850, 950, and 1200 W m−2, respectively. Temperature-dependent density, specific heat capacity, thermal conductivity, and dynamic viscosity were implemented for both fluids, and the mass flow rate was determined separately for each fluid and inlet temperature from the imposed inlet velocity. Across the 108 simulated cases, Solar Salt–MgO reduced the mean absorber-wall temperature by 4.74% and increased the mean exergy efficiency from 85.33% to 89.92%. Mean entropy generation decreased from 37.24 to 24.79 W K−1, corresponding to a 34.0% reduction, while mean pumping power decreased slightly from 8.22 to 8.12 W. The mean fluid heat gain increased by 1.28%, although individual cases ranged from a 3.94% increase to a 4.57% reduction. Despite the improved dimensional convective heat-transfer performance, the nanofluid exhibited lower Nusselt numbers because the increase in thermal conductivity exceeded the increase in the convective heat-transfer coefficient, demonstrating that the Nusselt number alone does not fully represent its thermal advantage. Overall, Solar Salt–MgO reduced receiver temperature and thermodynamic irreversibility without incurring a substantial hydraulic penalty under the conditions investigated. Validation against published turbulent molten-salt tube-flow experiments showed that all 14 numerical predictions remained within the reported ±7.2% experimental uncertainty band.