Assessment of the Economic Analysis of Utility Scale Solar-Wind-Diesel Generator System

International Journal of Electrical and Electronics Engineering

© 2024 by SSRG - IJEEE Journal

Volume 11 Issue 9

Year of Publication : 2024

Authors : Yonis Khalif Elmi, Diaa Salman, Abdullahi Sheikh Mohamed, Abdirahman Abdullahi Ali

10.14445/23488379/IJEEE-V11I9P124

How to Cite?

Yonis Khalif Elmi, Diaa Salman, Abdullahi Sheikh Mohamed, Abdirahman Abdullahi Ali, "Assessment of the Economic Analysis of Utility Scale Solar-Wind-Diesel Generator System," SSRG International Journal of Electrical and Electronics Engineering, vol. 11,  no. 9, pp. 261-273, 2024. Crossref, https://doi.org/10.14445/23488379/IJEEE-V11I9P124

Abstract:

The efficient use of energy resources is increasingly crucial due to the limited availability of fossil fuels and rising energy demands. This study evaluates a hybrid renewable energy system that combines Photovoltaic (PV) panels, wind turbines, and diesel generators to improve energy efficiency and reduce environmental impact in Northern Cyprus. Using the HOMER software, various system configurations were simulated to meet peak load demands ranging from 139 MW to 335 MW. Key metrics, including Net Present Cost (NPC), Levelized Cost of Energy (LCOE), and carbon emissions, were analyzed. The results show that the most cost-effective configuration, a hybrid solar-wind-diesel system with 250 MW solar and 50 MW wind capacities, achieves an NPC of $22.3 billion and an LCOE of $0.178/kWh while reducing carbon emissions by approximately 13,052 kg/year. These findings highlight the potential of hybrid renewable systems to improve energy efficiency, lower costs, and reduce environmental impact, offering valuable insights for energy policymakers and researchers.

Keywords:

Hybrid renewable energy systems, Energy efficiency, HOMER simulation, Techno-economic analysis.

References:

[1] Adil Ahmed, and Muhammad Khalid, “A Review on the Selected Applications of Forecasting Models in Renewable Power Systems,” Renewable and Sustainable Energy Reviews, vol. 100, pp. 9-21, 2019.
[CrossRef] [Google Scholar] [Publisher Link]
[2] Qusay Hassan et al., “An Economic and Technological Analysis of Hybrid Photovoltaic/Wind Turbine/Battery Renewable Energy System with the Highest Self-Sustainability,” Energy Harvesting and Systems, vol. 10, no. 2, pp. 247-257, 2023.
[CrossRef] [Google Scholar] [Publisher Link]
[3] Y. He et al., “A State-of-the-Art Review and Bibliometric Analysis on the Sizing Optimization of Off-Grid Hybrid Renewable Energy Systems,” Renewable and Sustainable Energy Reviews, vol. 183, 2023.
[CrossRef] [Google Scholar] [Publisher Link]
[4] Seyedvahid Vakili, Alessandro Schonborn, and Aykut I. Olcer, “Techno-Economic Feasibility of Photovoltaic, Wind and Hybrid Electrification Systems for Standalone and Grid-Connected Shipyard Electrification in Italy,” Journal of Cleaner Production, vol. 366, 2022.
[CrossRef] [Google Scholar] [Publisher Link]
[5] Pankaj Kumar, Nitai Pal, and Himanshu Sharma, “Techno-Economic Analysis of Solar Photovoltaic/Diesel Generator Hybrid System Using Different Energy Storage Technologies for Isolated Islands of India,” Journal of Energy Storage, vol. 41, 2021.
[CrossRef] [Google Scholar] [Publisher Link]
[6] Jackson G. White et al., “Techno-Economic Feasibility Assessment and Performance Analysis of Standalone Solar Photo Voltaic-Biomass Hybrid System with Optimized Storage: A Case Study-Grand Bassa, Liberia,” Frontiers in Energy Research, vol. 12, 2024.
[CrossRef] [Google Scholar] [Publisher Link]
[7] Mesfin Jariso et al., “Hybrid Energy System for Upgrading the Rural Environment,” 2018 IEEE Globecom Workshops (GC Wkshps), Abu Dhabi, United Arab Emirates, pp. 1-6, 2018.
[CrossRef] [Google Scholar] [Publisher Link]
[8] Norat Mal Swarnkar, and Lata Gidwani, “Economic and Financial Assessment of Integrated Solar and Wind Energy System in Rajasthan, India,” International Conference on Computation of Power, Energy Information and Commuincation (ICCPEIC), Melmaruvathur, India, pp. 471-476, 2017.
[CrossRef] [Google Scholar] [Publisher Link]
[9] Adewale Z. Obaro, Josiah L. Munda, and Mukwanga W. Siti, “Optimal Energy Management of an Autonomous Hybrid Energy System,” IEEE 7th International Conference on Power and Energy (PECon), Kuala Lumpur, Malaysia, pp. 316-321, 2018.
[CrossRef] [Google Scholar] [Publisher Link]
[10] Nafi Cabacaba, and Serkan Abbasoglu, Evaluation of Wind-Solar Hybrid System for a Household in Northern Cyprus Evaluation of Wind-Solar Hybrid System for a Household in Northern Cyprus, Towards 100% Renewable Energy, Springer Proceedings in Energy, pp 313-321, 2017.
[CrossRef] [Google Scholar] [Publisher Link]
[11] Youssef Kassem, Raafat Al Zoubi, and Huseyin Gokceku, “The Possibility of Generating Electricity Using Small-Scale Wind Turbines and Solar Photovoltaic Systems for Households in Northern Cyprus : A Comparative Study,” Environments, vol. 6, no. 4, 2019.
[CrossRef] [Google Scholar] [Publisher Link]
[12] Vaclav Smil, Energy and Civilization A History, The MIT Press, England, 2017.
[Google Scholar]
[13] National Academy of Sciences, National Academy of Engineering, and National Research Council, Electricity from Renewable Resources: Status, Prospects, and Impediments, The National Academies Press, Washington, 2010.
[CrossRef] [Google Scholar] [Publisher Link]
[14] J.P Morgan, “Mountains and Molehills. Achievements and Distract on the Road to Decarbonization,” Energy Outlook 2019: Mountains and Molehills, 2019.
[Google Scholar] [Publisher Link]
[15] Our World in Data. [Online]. Available: www.ourworldindata.org
[16] Turkish Cyprus Electrical Corporation. [Online]. Available:  www.kibtek.com
[17] Meliz Hastunc, and Neyre Tekbıyık-Ersoy, “Optimizing Residential Renewable Energy Utilization in North Optimizing Residential Renewable Energy Utilization in North Cyprus : Case Study of Solar Energgy,” 16th International Conference on Clean Energy, Famagusta, North Cyprus, 2018.
[Google Scholar] [Publisher Link]
[18] O.C. Ozerdem, and S. Biricik, “Overview of Energy System and Major Power Quality Problems in North Overview of Energy System and Major Power Quality Problems in North Cyprus,” International Journal on Technical and Physical Problems of Engineering, vol. 3, no. 8, pp. 71-75, 2011.
[Google Scholar] [Publisher Link]
[19] HOMER software. [Online]. Available: https://www.homerenergy.com