scholarly journals Analysis of economic viability with the use of monte carlo simulation for microgeneration of photovoltaic energy

2019 ◽  
Vol 10 (3) ◽  
pp. 1000 ◽  
Author(s):  
José Antonio De Miranda Lammoglia ◽  
Nilson Brandalise
Keyword(s):  
Monte Carlo Simulation ◽  
Monte Carlo ◽  
Renewable Energy ◽  
Renewable Energy Sources ◽  
Photovoltaic System ◽  
Economic Viability ◽  
Hydroelectric Energy ◽  
Consumer Perspective ◽  
Output Probability ◽  
Support Decision Making

A series of public policies are being adopted worldwide to seek greater participation of renewable energy sources in the energy matrix. Brazil is a country that has a predominantly renewable energy source, with hydroelectric energy being responsible for the largest portion, but with enormous potential to be exploited for solar energy. The objective of this study was to carry out an analysis of the economic viability of a photovoltaic matrix in the distributed microgeneration model from the residential consumer perspective. Through the Monte Carlo simulation, 10.000 iterations were performed and the NPV was calculated in each of them, then counted to recover the corresponding output probability distribution and verified the NPV probability to be greater than zero. The developed method has proved to be a reliable tool to support decision making and can be applied to several scenarios. The scenario adopted for the design of the photovoltaic system presented a 95.2% probability of returning with an NPV above zero and this makes it economically feasible. The main contribution of this paper is the replicability of the methodology used for other economic analysis studies.

scholarly journals Optimisation of Energy Accumulation for Renewable Energy Sources

2021 ◽  
Vol 19 ◽  
pp. 205-210
Author(s):  
Milan Belik ◽  
Keyword(s):  
Renewable Energy ◽  
Model Building ◽  
Residential Buildings ◽  
Renewable Energy Sources ◽  
Photovoltaic System ◽  
Energy Sources ◽  
Pv System ◽  
Energy Accumulation ◽  
Wind Power Station ◽  
Future Production

This project focuses on optimisation of energy accumulation for various types of distributed renewable energy sources. The main goal is to prepare charging – discharging strategy depending on actual power consumption and prediction of consumption and production of utilised renewable energy sources for future period. The simulation is based on real long term data measured on photovoltaic system, wind power station and meteo station between 2004 – 2021. The data from meteo station serve as the input for the simulation and prediction of the future production while the data from PV system and wind turbine are used either as actual production or as a verification of the predicted values. Various parameters are used for trimming of the optimisation process. Influence of the charging strategy, discharging strategy, values and shape of the demand from the grid and prices is described on typical examples of the simulations. The main goal is to prepare and verify the system in real conditions with real load chart and real consumption defined by the model building with integrated renewable energy sources. The system can be later used in general installations on commercial or residential buildings.

scholarly journals Optimal Configuration and Sizing of Seaport Microgrids including Renewable Energy and Cold Ironing—The Port of Aalborg Case Study

Energies ◽  
2022 ◽  
Vol 15 (2) ◽  
pp. 431
Author(s):  
Nur Najihah Abu Bakar ◽  
Josep M. Guerrero ◽  
Juan C. Vasquez ◽  
Najmeh Bazmohammadi ◽  
Muzaidi Othman ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Renewable Energy Sources ◽  
Storage System ◽  
Maximum Load ◽  
Optimal Operation ◽  
Economic Feasibility ◽  
Photovoltaic System ◽  
Design Stage ◽  
Component Size

Microgrids are among the promising green transition technologies that will provide enormous benefits to the seaports to manage major concerns over energy crises, environmental challenges, and economic issues. However, creating a good design for the seaport microgrid is a challenging task, considering different objectives, constraints, and uncertainties involved. To ensure the optimal operation of the system, determining the right microgrid configuration and component size at minimum cost is a vital decision at the design stage. This paper aims to design a hybrid system for a seaport microgrid with optimally sized components. The selected case study is the Port of Aalborg, Denmark. The proposed grid-connected structure consists of renewable energy sources (photovoltaic system and wind turbines), an energy storage system, and cold ironing facilities. The seaport architecture is then optimized by utilizing HOMER to meet the maximum load demand by considering important parameters such as solar global horizontal irradiance, temperature, and wind resources. Finally, the best configuration is analyzed in terms of economic feasibility, energy reliability, and environmental impacts.

scholarly journals Selected issues of the design of electrical installation RES type on the example of a home photovoltaic plant

2018 ◽  
Vol 19 (12) ◽  
pp. 66-74
Author(s):  
Marcin Chrzan ◽  
Daniel Pietruszczak ◽  
Mirosław Wiktorowski
Keyword(s):  
Renewable Energy ◽  
System Design ◽  
Renewable Energy Sources ◽  
Photovoltaic System ◽  
Energy Sources ◽  
Photovoltaic Plant ◽  
Electrical Installation

The paper presents issues related to renewable energy sources and their current use. Home photovoltaic installations RES and their types are discussed. It presents the benefits that a basic household can derive from it. Details of the photovoltaic system design in a monocular house are described.

Solar energy utilization in overall energy budget of the Johann Gregor Mendel Antarctic station during austral summer season

2015 ◽  
Vol 5 (1) ◽  
pp. 1-11 ◽  
Author(s):  
Petr Wolf
Keyword(s):  
Renewable Energy ◽  
Nuclear Power ◽  
Renewable Energy Sources ◽  
Austral Summer ◽  
Energy Utilization ◽  
Photovoltaic System ◽  
Energy Sources ◽  
Research Activities ◽  
Gregor Mendel ◽  
Johann Gregor Mendel

It is well known that the utilization of renewable energy sources is inevitable for a sustainable future. Besides the fact that other energy sources such as coal, gas or nuclear power have limited reserves the proper use of increasingly higher shares of renewable energy sources may lower negative impacts of traditional energy sources on the ecosystems. This is especially important in naturally protected areas located in remote Earth locations. Such areas are still almost untouched by mankind, e.g. Antarctica. The research activities in the area of renewable energy sources have increased rapidly within the last few decades. It is of a global interest to carry out the research in an ecologically sensitive way, i.e. balance the outputs and the effects of infrastructure on environment. In this paper, a project of installation of a photovoltaic system on the Czech Antarctic Station (Johann Gregor Mendel) on the James Ross Island is described and the first experience from the system run is reported. The contribution of this system to the overall energy production on this station shortly after commissioning of the system is presented as well. In discussion, a possible future development of the system is suggested.

scholarly journals Techno Economic Assessment of Hybrid Renewable Energy Systems Based on Power to Hydrogen and Methane Gas Concepts

2018 ◽  
Author(s):  
Ahmed Boubenia ◽  
Ahmed Hafaifa ◽  
Abdellah Kouzou ◽  
Mohamed Becherif
Keyword(s):  
Renewable Energy ◽  
Wind Energy ◽  
Renewable Energy Sources ◽  
Economic Assessment ◽  
Energy System ◽  
Photovoltaic System ◽  
Hybrid Renewable Energy System ◽  
Micro Turbine ◽  
The Stability ◽  
Hybrid Renewable Energy

This paper deals with the techno-economic study of the hybrid renewable energy system based on energy storage aspect under the form of hydrogen and methane. Indeed, with the intermittency of the renewable energy sources such as photovoltaic and wind energy, several problems of produced energy injection to the power system network can be encountered due to the shortage or the excess of these sources. This situation appeals the use of systems that ensure the stability of network based on the storage of energy surplus into gas using electrolyzer systems, which will be used afterward to cover the eventual shortage. In the present paper, the study of performance of each pathway of methane and hydrogen storage has been performed by the treatment of multiple scenarios via different architecture case studies in an Algerian location. Whereas, the energy produced by the photovoltaic system, the wind energy and the gas micro turbine sources are considered similar in each case. The modeling and simulation of the studied system operation under optimization criteria has been performed in this work, where the main aim is to define the appropriate configuration taking into account the different with low costs of investment, maintenance operation and immediate reactivity with a big storage capacity.

scholarly journals Economic Analysis of Grid-Connected PV System Regulations: A Hungarian Case Study

Electronics ◽  
2019 ◽  
Vol 8 (2) ◽  
pp. 149 ◽  
Author(s):  
Henrik Zsiborács ◽  
Nóra Hegedűsné Baranyai ◽  
Szilvia Csányi ◽  
András Vincze ◽  
Gábor Pintér
Keyword(s):  
Renewable Energy ◽  
Local Governments ◽  
Energy Demand ◽  
Renewable Energy Sources ◽  
Point Of View ◽  
Photovoltaic System ◽  
Pv System ◽  
Good Decision ◽  
Medium Voltage ◽  
System Configurations

The energy demand of mankind is constantly growing, thus the utilization of various renewable energy sources, which also reduces negative environmental effects, is becoming more and more important. Because of the achievement of climate protection targets, photovoltaic (PV) energy has an increasing role in the global energy mix. This paper presents the technical and economic aspects of different photovoltaic system configurations designed to suit the Hungarian renewable energy regulations. In this study, five alternative PV configurations were examined for systems with a capacity from 50 kW to 500 kW, related to low- and medium-voltage installations. This article also introduces and explains the Hungarian economic PV and Feed-in-Tariff (FiT) regulations, where three different investment alternatives are analyzed with the help of economic indicators. This study could help stakeholders in the market (e.g., the Hungarian industry sector and local governments) understand the possible directions of technical and economic PV development. According to the results, the payback periods in all the studied economic-technical cases were below 10 years. The experimental results show that each investment option may be a good decision from an economic and technical point of view under the Hungarian regulations in force in 2019.

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