Evaluation of cost effectiveness of renewable energy system considering carbon trading under clean development mechanism

2007 ◽  
Author(s):  
R. NashikIndia
Keyword(s):  
Renewable Energy ◽  
Cost Effectiveness ◽  
Clean Development Mechanism ◽  
Energy System ◽  
Carbon Trading ◽  
Renewable Energy System ◽  
Development Mechanism

scholarly journals Techno-Economic Analysis of a Novel Hydrogen-Based Hybrid Renewable Energy System for Both Grid-Tied and Off-Grid Power Supply in Japan: The Case of Fukushima Prefecture

2020 ◽  
Vol 10 (12) ◽  
pp. 4061 ◽  
Author(s):  
Naoto Takatsu ◽  
Hooman Farzaneh
Keyword(s):  
Renewable Energy ◽  
Energy Demand ◽  
Renewable Energy Sources ◽  
Economic Assessment ◽  
Energy System ◽  
Modeling Framework ◽  
Integrated Simulation ◽  
Hybrid Renewable Energy System ◽  
Renewable Energy System ◽  
Hybrid Renewable Energy

After the Great East Japan Earthquake, energy security and vulnerability have become critical issues facing the Japanese energy system. The integration of renewable energy sources to meet specific regional energy demand is a promising scenario to overcome these challenges. To this aim, this paper proposes a novel hydrogen-based hybrid renewable energy system (HRES), in which hydrogen fuel can be produced using both the methods of solar electrolysis and supercritical water gasification (SCWG) of biomass feedstock. The produced hydrogen is considered to function as an energy storage medium by storing renewable energy until the fuel cell converts it to electricity. The proposed HRES is used to meet the electricity demand load requirements for a typical household in a selected residential area located in Shinchi-machi in Fukuoka prefecture, Japan. The techno-economic assessment of deploying the proposed systems was conducted, using an integrated simulation-optimization modeling framework, considering two scenarios: (1) minimization of the total cost of the system in an off-grid mode and (2) maximization of the total profit obtained from using renewable electricity and selling surplus solar electricity to the grid, considering the feed-in-tariff (FiT) scheme in a grid-tied mode. As indicated by the model results, the proposed HRES can generate about 47.3 MWh of electricity in all scenarios, which is needed to meet the external load requirement in the selected study area. The levelized cost of energy (LCOE) of the system in scenarios 1 and 2 was estimated at 55.92 JPY/kWh and 56.47 JPY/kWh, respectively.

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