Abstract
Renewable energy sources such as solar and wind are now competitive with traditional fossil and nuclear power “when generating” but that is just the challenge. When “not generating” can be a problem for grid integration and the main challenge to the widespread acceptance and dissemination of solar and wind, and the focus of research for the next generation of energy engineers. “Intermittent”, the adjective most associated with solar and wind energy has been and continues to be the focus of research by power engineers, AI professionals, and system scientists from the late 20th century and is the critical factor in the design of the future power grids,
The most obvious solution is energy storage but then the choice of the storage method and size are complex problems. Will best solutions involve pumped hydro, Li-Ion batteries, or hydrogen generation? Or will next-generation ultra-capacitors, or high-speed flywheels gyros, or some yet to be discovered device will be the dominating technologies? The primary objective of the storage designs will be based on what’s best for the reliability and efficiency of the grid, and simultaneously optimizing cost and environmental impact functions. Socio-economic and geopolitical considerations must also be considered to satisfy local or regional constraints. There is also the question of purpose: will it be sized for grid stability, or medium, or long-term storage. This factor will depend on the specific grid requirements. The focus of this paper is to study multi-source renewable energy systems that include storage called HRES or Hybrid Renewable Energy with Storage.
This study describes the development of a behind-the-meter Energy Management System (EMS) for an HRES, under the assumption that Real-Time Pricing (RTP) is offered by a utility supplying power to a medium-size office complex. A cost function to be minimized is introduced to optimize the contribution of each energy source. Also, this work develops the basis of a platform for decision-makers to evaluate the viability of the optimized system in conjunction with the financial feasibility analysis.
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Cupples, S., Abtahi, A., Madureira, A., Quadrado, J. (2022). Techno-Economic Feasibility Analysis and Optimal Design of Hybrid Renewable Energy Systems Coupled with Energy Storage. In: Abraham, A., et al. Innovations in Bio-Inspired Computing and Applications. IBICA 2021. Lecture Notes in Networks and Systems, vol 419. Springer, Cham. https://doi.org/10.1007/978-3-030-96299-9_74
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