scholarly journals Assessing the Effects of Uncertain Energy and Carbon Prices on the Operational Patterns and Economic Results of CHP Systems

Energies ◽  
2021 ◽  
Vol 14 (24) ◽  
pp. 8216
Author(s):  
Pablo Benalcazar ◽  
Przemysław Kaszyński ◽  
Jacek Kamiński

In the power and heat sectors, the uncertainty of energy and carbon prices plays a decisive role in the rationale for decommissioning/repurposing coal-fired CHP (combined heat and power) systems and on investment decisions of energy storage units. Therefore, there is a growing need for advanced methods that incorporate the stochastic disturbances of energy and carbon emission prices into the optimization process of an energy system. In this context, this paper proposes an integrated method for investigating the effects of uncertain energy and carbon prices on the operational patterns and financial results of CHP systems with thermal energy storage units. The approach combines mathematical programming and Monte Carlo simulation. The computational process generates feasible solutions for profit maximization considering the technical constraints of the CHP system and the variation of energy and carbon emission prices. Four scenarios are established to compare the operational patterns and economic performance of a CHP system in 2020 and 2030. Results show that in 2020, there is an 80% probability that the system’s annual profit will be less than or equal to €30.98 M. However, at the same probability level, the annual profit in 2030 could fall below €11.88 M. Furthermore, the scenarios indicate that the incorporation of a thermal energy storage unit leads to higher expected profits (€0.74 M in 2020 and €0.71 M in 2030). This research shows that coal-fired CHP plant operators will face costly risks and potentially greater challenges in the upcoming years with the increasing regulatory and financial pressure on CO2 emissions and the EU’s plan of phasing out fossil fuels from electricity and heat generation.

Molecules ◽  
2021 ◽  
Vol 26 (5) ◽  
pp. 1235
Author(s):  
Mohammad Ghalambaz ◽  
Seyed Abdollah Mansouri Mehryan ◽  
Ahmad Hajjar ◽  
Obai Younis ◽  
Mikhail A. Sheremet ◽  
...  

Thermal energy storage is a technique that has the potential to contribute to future energy grids to reduce fluctuations in supply from renewable energy sources. The principle of energy storage is to drive an endothermic phase change when excess energy is available and to allow the phase change to reverse and release heat when energy demand exceeds supply. Unwanted charge leakage and low heat transfer rates can limit the effectiveness of the units, but both of these problems can be mitigated by incorporating a metal foam into the design of the storage unit. This study demonstrates the benefits of adding copper foam into a thermal energy storage unit based on capric acid enhanced by copper nanoparticles. The volume fraction of nanoparticles and the location and porosity of the foam were optimized using the Taguchi approach to minimize the charge leakage expected from simulations. Placing the foam layer at the bottom of the unit with the maximum possible height and minimum porosity led to the lowest charge time. The optimum concentration of nanoparticles was found to be 4 vol.%, while the maximu possible concentration was 6 vol.%. The use of an optimized design of the enclosure and the optimum fraction of nanoparticles led to a predicted charging time for the unit that was approximately 58% shorter than that of the worst design. A sensitivity analysis shows that the height of the foam layer and its porosity are the dominant variables, and the location of the porous layer and volume fraction of nanoparticles are of secondary importance. Therefore, a well-designed location and size of a metal foam layer could be used to improve the charging speed of thermal energy storage units significantly. In such designs, the porosity and the placement-location of the foam should be considered more strongly than other factors.


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