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Indeed, as India progresses towards its mission on green hydrogen production and the adoption of alternative fuels, the development of stand‐alone systems supporting the integration of hydrogen energy becomes imperative. Optimal sizing of standalone hybrid systems presents a significant challenge to meet power reliability, technical and economic viability. The present study explores the topology of hybrid energy storage systems in the stand‐alone scenario and assesses its technical and economic feasibility through an optimization approach. The objective is to size the components of the standalone system which includes PV generator, wind generator, hydrogen energy storage unit, battery storage unit (BES), electrolyzer and fuel cell rendering low value of loss of power supply probability (LPSP). Also, finest‐fitting storage system for the Solar‐wind Hybrid Stand‐Alone Microgrid (HSAM) is identified. Modeling, simulation, and optimization of the HSAM are carried out using HOMER PRO. A load of 20.46 kWp and average yearly energy consumption of 165.44 kWh/day was considered for the technical and economic feasibility‐based evaluation. Scaled annual average values of input metalogical data such as wind speed, temperature and solar irradiance is considered as sensitivity cases. Based on the simulation results, it can be observed that the proposed HSAM system with HyESS exhibits the lowest values for NPV, O&M Cost, and LCOE compared to other system configurations. From sensitivity analysis it is observed that with variation of resource based inputs like irradiance, wind speed and temperature, there is a fluctuation of nearly 10% in the NPV and LCOE of the HSAM system. The LCOE for this system is estimated to be $0.289/kWh, while the NPV is projected to be $274 470. The Internal Rate of Return (IRR) for the 25‐year project is calculated to be 6.1%, indicating a favorable return on investment. Additionally, the Simple Payback Period is determined to be 8.7 years. Furthermore, validation of the optimal LPSP through HOMER is achieved through creation of an objective function employing a non‐linear least square approach. The proposed HyESS outperforms the standard BES with an LPSP of 3.1 × 10−6 over 4.3 × 10−4. The suggested system achieves a high level of dependability through LPSP values that are significantly closer to zero, ensuring a reliable operation. [ABSTRACT FROM AUTHOR]

As nations worldwide strive for carbon neutrality, Saudi Arabia has set ambitious targets to increase its renewable energy capacity, aiming for 50% of its electricity production to come from renewable sources by 2030. To accurately assess the economic viability of these photovoltaic (PV) projects, it is crucial to consider the levelized cost of energy (LCOE). In this study, we developed a comprehensive model incorporating PV panel annual degradation rate, initial system efficiency, and interest rates to provide a more precise LCOE calculation. The results demonstrate that PV panel annual degradation, initial system efficiency, and interest rate all significantly influence LCOE. In the most favorable scenario with a 0.5% degradation rate, 0.95 initial system efficiency, and a 0% interest rate, the LCOE was USD 0.0156/kWh. However, under the least favorable scenario with a 2.5% degradation rate, 0.75 initial system efficiency, and a 4% interest rate, the LCOE increased to USD 0.0317/kWh, representing a 103.2% increase. These findings underscore the importance of considering these factors when evaluating the economic viability of PV projects. By understanding their impact, investors and policymakers can make informed decisions regarding renewable energy investments and policies. [ABSTRACT FROM AUTHOR]

Abstract This paper aims to analyze the levelized cost of energy (LCOE) of floating offshore wind farms from a probabilistic point of view. Understanding and addressing the uncertainty associated with the main parameters that influence the wind energy generated by a wind farm during its lifetime is crucial for the economic evaluation of offshore wind energy in the broader energy landscape. The methodology for probabilistic assessment of LCOE is introduced, and the uncertainty in input parameters are discussed. In a base case study, an assumed Floating Offshore Wind Farm (FOWT) consisting of 250 5-MW wind turbines is considered. The use of bias and randomness in key random variables is discussed and studied in detail. Results indicate that LCOE estimates of 15 EURc/kWh for offshore wind turbines are achievable with reasonable confidence, while estimates of 5 EURc/kWh require careful consideration of uncertainty in the wind farm’s parameters. The feasibility analysis showed that techno-economic parameters are more influenced by wind characteristics and efficient use of wind turbines than by the cost of the wind farm. This paper provides general guidance on how to carry out early-stage techno-economic analysis of FOWFs.

This paper aims to analyze the levelized cost of energy (LCOE) of floating offshore wind farms from a probabilistic point of view. Understanding and addressing the uncertainty associated with the main parameters that influence the wind energy generated by a wind farm during its lifetime is crucial for the economic evaluation of offshore wind energy in the broader energy landscape. The methodology for probabilistic assessment of LCOE is introduced, and the uncertainty in input parameters are discussed. In a base case study, an assumed Floating Offshore Wind Farm (FOWT) consisting of 250 5-MW wind turbines is considered. The use of bias and randomness in key random variables is discussed and studied in detail. Results indicate that LCOE estimates of 15 EURc/kWh for offshore wind turbines are achievable with reasonable confidence, while estimates of 5 EURc/kWh require careful consideration of uncertainty in the wind farm's parameters. The feasibility analysis showed that techno-economic parameters are more influenced by wind characteristics and efficient use of wind turbines than by the cost of the wind farm. This paper provides general guidance on how to carry out early-stage techno-economic analysis of FOWFs. [ABSTRACT FROM AUTHOR]

This research explores how participants in an innovation ecosystem, operating without a focal firm, can collaboratively envision and create societal value beyond their individual business goals. Using participatory action research, the investigation focuses on two cases within the offshore wind energy sector, involving four complementary enterprises and nine enterprises that are both complementary and competitive. The findings suggest that ecosystem participants can collectively pursue opportunities for sustainable value creation that surpass the interests and goals of individual firms. This shift towards a future-oriented, ecosystem-wide perspective was driven by the focus on ecosystem-level value propositions and the dynamic organizing of heterogeneous knowledge, individual behaviors, and organizational behaviors, enabling successful future-oriented sensemaking. The research process highlights practices that led to significant innovation outcomes, such as halving investments, reducing accidents and rework, accelerating operational flow, and fostering long-term investments, like a floating port for installation and maintenance improvements. This study enhances understanding of how future-oriented sensemaking in innovation ecosystems without a focal firm can drive innovation and societal value creation, offering insights for practitioners, academics, and policymakers on governance and collaborative efforts to enable value creation in innovation ecosystems. [ABSTRACT FROM AUTHOR]

Renewable energy communities (RECs) in Italy could play an important role in increasing the stock of electric renewable generation in the coming years. Their impact on the electric grid could be non-negligible. At the same time with increased electric generation from renewables, a greater need for electric national grid balancing is expected, preferably based on zero-emission energy storage. Based on currently existing entities in Italian regulation framework (i.e. REC and UVAM project), the present work proposes an original business model to create a storage of dispatchable renewable hydrogen to be used for balancing National electric grid. Hydrogen production is from excess of renewables in RECs constituted in the same area. UVAM project allows to access the ancillary services market with the minimum capacity of 1 MW that appears appropriate to the proposed scenario. Based on current technical-economic constraints of the technologies involved (electrolysis and both fuel cell and internal combustion engine fed by hydrogen), proposed business model is not day-present economic feasible: the return on investment is never positive. The cost forecasts available for 2035 indicate that the business model will be likely sustainable, with a net present value becoming positive for configurations with more than 3000 people involved in the RECs, with a photovoltaic penetration condition of 1.8 kWp/capita. This research work suggests an original business model for managers of RECs with an excess of renewables generation.

This study explores the economic implications of hybrid plants combining photovoltaic (PV) and Concentrated Solar Power (CSP) technologies with energy storage in response to Chile's ongoing energy transition. Utilizing the System Advisor Model (SAM), six diverse locations were evaluated to assess energy generation profiles, calculate the Levelized Cost of Energy (LCOE), and analyze gross margins. The key finding is that higher solar multiples or storage capacities do not consistently lead to lower LCOE, primarily due to operational strategies aligning CSP generation profiles with PV. Notably, northern regions consistently yield higher gross margins despite occasional zero marginal costs, while areas near Santiago experience lower gross margins, with Salamanca presenting the lowest margin. This highlights the critical role of available solar resources in shaping economic outcomes.

Offshore wind farms are great options for addressing the world's energy and climate change challenges, as well as meeting rising energy demand while taking environmental and economic impacts into account. Floating wind turbines, in specific, depict the next horizon in the sustainable renewable energy industry. In this study, a life-cycle cost analysis for floating offshore wind turbines is developed by combining the most recent data and parametric formulas from databases and relevant papers. The cost analysis models focused on cost minimization with special emphasis on Operation and Maintenance Cost (OPEX), Decommissioning Cost (DECOM), and Levelized Cost of Energy (LCOE), which are important factors in wind power economy. Given that floating wind energy is still developing, the presented scenarios should be beneficial in making future decisions. The cost analysis scenarios include on-site and off-site maintenance scenarios for OPEX. In addition, four alternative scenarios for DECOM have been examined: mechanical recycling, mechanical-incineration, incineration processes, and landfill. According to the findings of these scenarios, OPEX varies from 16.89 to 19.93 £/MWh and DECOM between 3.47 and 3.65 £/MWh, whilst the total LCOE varied from 50.67 to 66.73 £/MWh. [ABSTRACT FROM AUTHOR]

This article delves into the security-constrained scheduling of a Virtual Power Plant (VPP) through a two-stage methodology. In the proposed framework, a decentralized locational marginal pricing (DLMP) based primary pricing mechanism is applied to realize the pricing in first stage. An exclusive Mixed Integer Linear Programming (MILP) framework is crafted for the VPP’s scheduling to enhance the utilization of Distributed Energy Resources (DERs) and controllable loads in both the Day Ahead Market (DAM) and Real-Time Market (RTM). The primary objective is maximizing joint profit for the VPP and the DERs, while the economic assessment hinges on Levelized Cost of Energy (LCOE) for financial evaluation of the proposed scheme. The model’s practicality is verified using the GAMS environment, and its efficiency is gauged through LCOE benchmarking. Furthermore, this paper unveils a communication framework for the VPP, grounded in IEC 61850-8-2 protocol. This framework exemplifies the exchange of XMPP stanzas among distinct clients during the strategy’s implementation.

This research explores how participants in an innovation ecosystem, operating without a focal firm, can collaboratively envision and create societal value beyond their individual business goals. Using participatory action research, the investigation focuses on two cases within the offshore wind energy sector, involving four complementary enterprises and nine enterprises that are both complementary and competitive. The findings suggest that ecosystem participants can collectively pursue opportunities for sustainable value creation that surpass the interests and goals of individual firms. This shift towards a future-oriented, ecosystem-wide perspective was driven by the focus on ecosystem-level value propositions and the dynamic organizing of heterogeneous knowledge, individual behaviors, and organizational behaviors, enabling successful future-oriented sensemaking. The research process highlights practices that led to significant innovation outcomes, such as halving investments, reducing accidents and rework, accelerating operational flow, and fostering long-term investments, like a floating port for installation and maintenance improvements. This study enhances understanding of how future-oriented sensemaking in innovation ecosystems without a focal firm can drive innovation and societal value creation, offering insights for practitioners, academics, and policymakers on governance and collaborative efforts to enable value creation in innovation ecosystems.

The importance of energy storage is increased with the intermittent nature of renewable energy resources (RERs). Green hydrogen is increasingly being employed to address its shortcomings. Furthermore, lowering carbon emissions has accelerated the quest for green alternatives instead of fossil-based fuels. This research focuses on Egypt's capacity to generate green hydrogen using natural renewable resources to serve islanded electrical and hydrogen loads. To obtain the lowest net present cost (NPC), cost of hydrogen (COH), and levelized cost of energy (LCOE), the state-of-the-art prices of the system elements are investigated and optimized using the HOMER professional software. Three situations with solar photovoltaic (PV), wind, and hybrid RERs are evaluated in three separate Egyptian cities. A sensitivity analysis is investigated based on the influence of the system's reliability and hydrogen load variance on the cost. The results of the three locations are compared to indicate the best site for green hydrogen production. The results obtained with the wind scenario located on the coast of the Suez Gulf provided the lowest LCOE, ranged from 0.308 $/kWh to 0.353 $/kWh, and the COH ranged from 3.73 $/kg to 4.13 $/kg. • Proposing a complete islanded green hydrogen production scheme. • Testing the model in three different climatic condition locations in Egypt. • Obtaining the optimal sizing of the system components to minimize LCOE, NPC, and COH. • Investigating the hydrogen load variance effect on the system costs and sizes. • Analyzing the impact of reliability consideration on the system sizes and costs. [ABSTRACT FROM AUTHOR]

This study covers the technical and economic analysis of a grid-connected rooftop 216 kWp photovoltaic (PV) system to meet the average annual energy demand of 45,327 kWh of a dairy farm. According to the results of the analysis, an average of 326,819 kWh/year is received at the output of the panel arrays, while 294,838 kWh/year is supplied to the grid. The amount of energy to be received from the grid was found to be 25,013 kWh/year, and the performance ratio of the system was 0.808. The net present value (NPV) of the system was calculated as $36,463.39, and the levelized cost of electricity (LCOE) was calculated as 0.065 $/kWh. Considering that the annual electricity generation amount of the rooftop PV system evaluated within the scope of the study is 315,152 kWh, it is estimated that 127.419 tCO2 per year of emission release will be prevented annually with the installation of the system. [ABSTRACT FROM AUTHOR]

Microgrids are decentralized power production systems, where the energy production and consumption are very close to each other. Microgrids generally exploit renewable energy sources, encountering a problem of storage, as the power production from solar and wind is intermittent. This research presents a new integrated methodology and discusses a comparison of batteries and pumped storage hydropower (PSH) as energy storage systems with the integration of wind and solar PV energy sources, which are the major upcoming technologies in the renewable energy sector. We implemented the simulator and optimizer model (HOMER), which develops energy availability usage to obtain optimized renewable energy integration in the microgrid, showing its economic added value. Two scenarios are run with this model—one considers batteries as an energy storage technology and the other considers PSH—in order to obtain the best economic and technical results for the analyzed microgrid. The economic analysis showed a lower net present cost (NPC) and levelized cost of energy (LCOE) for the microgrid with PSH. The results showed that the microgrid with the storage of PSH was economical, with an NPC of 45.8 M€ and an LCOE of 0.379 €/kWh, in comparison with the scenario with batteries, which had an NPC of 95.2 M€ and an LCOE of 0.786 €/kWh. The role of storage was understood by differentiating the data into different seasons, using a Python model. Furthermore, a sensitivity analysis was conducted by varying the capital cost multiplier of solar PV and wind turbines to obtain the best optimal economic solutions. [ABSTRACT FROM AUTHOR]

[Introduction] With the development of domestic renewable energy industry, the recession of governmental subsidies and the implementation of policies such as competitive allocation of resources, Levelized Cost of Energy (LCOE) is gaining more and more attention and application, but its calculation method is inconsistent in domestic energy industry. In this paper, the relationship between Internal Rate of Return (IRR) and LCOE is analyzed to improve understanding of LCOE and standardize its application. [Method] The characteristics and application scenarios of LCOE and IRR were analyzed, and then their calculation formulas were simplified and transformed to analyze the difference and relation between them in models. Finally through the case analysis of an offshore wind power plant, the actual difference between the results was calculated, and the factors causing the difference and their sensitivities were analyzed. [Result] From the perspective of results, the simplified calculation models are very similar except for the income tax. According to the case analysis, the factors causing the difference between IRR and LCOE include the VAT deduction, after-tax incentives of VAT and income tax, additional taxes, and financing during the construction period, and influenced different directions to different extent. It can be considered that IRR and LCOE are similar in principle, but they become different under the influence of domestic fiscal policy, tax system and increased boundary conditions. [Conclusion] It is suggested that LCOE is properly localized and revised by competent departments, industry associations, etc. In combination with environmental impact costs and power system impact costs, the economy of different power generation approaches can be compared, and the rapid comparison of the economy of different schemes can also be achieved in specific projects.

Offshore wind farms are great options for addressing the world’s energy and climate change challenges, as well as meeting rising energy demand while taking environmental and economic impacts into account. Floating wind turbines, in specific, depict the next horizon in the sustainable renewable energy industry. In this study, a life-cycle cost analysis for floating offshore wind turbines is developed by combining the most recent data and parametric formulas from databases and relevant papers. The cost analysis models focused on cost minimization with special emphasis on Operation and Maintenance Cost (OPEX), Decommissioning Cost (DECOM), and Levelized Cost of Energy (LCOE), which are important factors in wind power economy. Given that floating wind energy is still developing, the presented scenarios should be beneficial in making future decisions. The cost analysis scenarios include on-site and off-site maintenance scenarios for OPEX. In addition, four alternative scenarios for DECOM have been examined: mechanical recycling, mechanical-incineration, incineration processes, and landfill. According to the findings of these scenarios, OPEX varies from 16.89 to 19.93 £/MWh and DECOM between 3.47 and 3.65 £/MWh, whilst the total LCOE varied from 50.67 to 66.73 £/MWh.

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This study focuses on a technical and economic analysis of designing and operating an off-grid hybrid renewable energy system (HRES) in a rural community called Olooji, situated in Ogun state, Nigeria, as a case study. First, a size optimization model is developed on the basis of the novel metaheuristic particle swarm optimization (PSO) technique to determine the optimal configuration of the proposed off-grid system on the basis of the minimization of the levelized cost of electricity, by factoring in the local meteorological and electricity load data and details on the technical specification of the main components of the HRES. Second, a fuzzy-logic-controlled energy management system (EMS) is developed for the dynamic power control and energy storage of the proposed HRES, ensuring the optimal energy balance between the different multiple energy sources and the load at each hour of operation. The result of the size optimization model showed that an LCOE for implementing an HRES in the community would be 0.48 USD/kWh in a full-battery-capacity scenario and 1.17 USD/kWh in a half-battery-capacity scenario. The result from this study is important for quick decision-making and effective feasibility studies on the optimal technoeconomic synopsis of implementing minigrids in rural communities. [ABSTRACT FROM AUTHOR]

A major challenge to the emergence and establishment of new energy technologies such as ocean wave energy is the insufficient or nonexistent database for estimating resource potential. Despite having an extensive coastline, wave energy sources are yet to be developed in India. Hence, the main objective of this study is to identify the potential sites and assess the technical and economic feasibility of harnessing wave energy along the Indian coast. Three hotspots are identified in three coastal regions (east, south and west) based on optimum hotspot index and depth constrain criterion using 19 years of high-resolution wave hindcast. Results indicate that the theoretical potential of location along the west coast (12 kW/m) is highest as compared to a hotspot near the south (8 kW/m) and east coast (6 kW/m). The technical potential and cost of electricity generation at hotspot locations are estimated and compared using four different wave energy converters (WECs): Wavedragon, Pelamis, Oceantec, and Aquabuoy. Oceantec, among all WECs, generates more power (40–57 GWh) and attain a maximum capacity factor (22–31%) as well as the most cost-effective WEC with the lowest Levelized Cost of Energy (LCOE) ranging from 354 to 505 €/MWh at all hotspots. Economic sensitivity analysis reveals that interest rate and operation and maintenance costs are the most and least sensitive parameters, respectively. Outcomes of the present study will contribute to reducing the barriers to the current knowledge of wave energy resources in India. [ABSTRACT FROM AUTHOR]

Heat pumps (HPs) which use low temperature (waste) heat and renewable energy sources to provide high temperature heat are widely regarded as a critical technology for reducing carbon dioxide emissions in the industrial sector. The HighLift technology considered here can provide high temperature output heat up to around 200 °C. This article focuses on the Life Cycle Cost Analysis (LCCA) method and its use for the economic evaluation of different industrial-scale heating methods i.e., a Stirling-cycle-based heat pump, a fossil fuel oil-fired boiler (OB), a bio oil-fired boiler (BOB), a natural gas-fired boiler (NGB) and a biogas-fired boiler (BGB). Many input parameters and boundary conditions apply to Sweden, where the considered heat pump is located. Findings from this study suggest that when comparing the life cycle costs of all these technologies Stirling-cycle-based heat pumps give more economic benefits than fossil fuel or biofuel-fired conventional boilers. For a typical 15-year lifespan, its total life cycle cost decreases in following order OB > BOB > NGB > BGB > SC-HP. The study indicates that replacing conventional boilers with a Stirling-cycle-based heat pump, despite an increased initial cost, would still be a cost-effective heating option due to lower operating and maintenance costs.

The electricity deficit in Cameroon is estimated today at 50 GWh. This deficit characterized by frequent and sometimes prolonged load shedding, disrupts economic and social life. To overcome this electricity deficit, Cameroon took the decision to produce 3000 MW of electrical energy from its renewable energies potential. Indeed, the annual solar radiation in Cameroon varies from 4.28 kWh/m2/year to 5.80 kWh/m2/year. It has 25 million hectares of forest covering three-quarters of its territory, amounting to the third-largest biomass potential in sub-Saharan Africa. In addition, there is an intense breeding activity for cattle, goats, sheeps and pigs in the Far North region amounting to several million heads and generating large quantities of dung. This paper therefore investigates for the very first time the techno-economic feasibility by using HOMER Pro of two scenarios of hybrid systems namely, PV/Fuel Cell/Electrolyzer/Biogas (scenario 1), and PV/Battery/Fuel Cell/Electrolyzer/Biogas (scenario 2) for energy and Hydrogen production in the city of Maroua, recognized as being part of the sunniest region (Far North) of Cameroon. The combination of electrolyzer, fuel cell and hydrogen tank was used in the present design to reduce battery storage requirement. Three types of household electricity demands communities (low, medium and high consumers) were considered in this work. The results showed that the optimal system architecture for scenario 1 included 144 kW PV module, 15 kW biogas generator, 11 kW converter, 15 kW electrolyzer, 15 kW fuel cell and 5000 kg Hydrogen tank with a dispatch strategy of cycle charging (CC) for low consumers community. For medium consumers community of scenario 1, 879 kW PV module, 15 kW biogas genetrator, 31.9 kW converter, 24 kW fuel cell, 24 kW electrolyzer and 5000 kg Hydrogen tank with a CC dispatch strategy was the best hybrid system. For high consumers community of scenario 1, 11,925 kW PV module, 15 kW biogas generator, 570 kW converter, 266 kW fuel cell, 266 kW electrolyzer and 25,000 kg Hydrogen tank with a CC dispatch strategy was the best hybrid system. Concerning scenario 2, the following architectures were the best hybrid systems: for low consumers, 138 kW PV modules, 15 kW biogas generator, 27.2 kW converter, 15 kW fuel cell, 15 kW electrolyzer, 5000 kg Hydrogen tank and 480 batteries storage bank with a CC dispatch strategy; for medium consumers, 234 kW PV modules, 15 kW biogas generator, 57.8 kW converter, 24 kW fuel cell, 24 kW electrolyzer, 5000 kg Hydrogen tank and 1023 batteries storage bank with a load following (LF) dispatch strategy; and for high consumers, 820 kW PV modules, 15 kW biogas generator, 405 kW converter, 266 kW fuel cell, 266 kW electrolyzer, 25,000 kg Hydrogen tank and 9519 batteries storage bank with a CC dispatch strategy. The levelized costs of energy (LCOE) for scenario 1 were US$ 0.871/kWh, US$ 0.898/kWh and US$ 1.524/kWh for low, medium and high consumers communities respectively. Concerning scenario 2, the LCOE were US$ 0.139/kWh, US$ 0.091/kWh and US$ 0.071/kWh. In addition, it was found a levelized costs of Hydrogen (LCOH) for scenario 1 of US$ 7.66/kg, US$ 4.95/kg, and US$ 0.45/kg for low, medium and high consumers communities respectively. For scenario 2, the LCOH were US$ 3.06/kg, US$ 1.34/kg and US$ 0.15/kg for low, medium and high consumers communities respectively. It was also concluded from the optimization results that the combination of water electrolyzer, fuel cell and hydrogen tank coupled to biogas generator and PV modules could be used as an alternative solution to make electricity available and accessible to the population of the Far North region of Cameroon.

This study covers the technical and economic analysis of a grid-connected rooftop 216 kWp photovoltaic (PV) system to meet the average annual energy demand of 45,327 kWh of a dairy farm. According to the results of the analysis, an average of 326,819 kWh/year is received at the output of the panel arrays, while 294,838 kWh/year is supplied to the grid. The amount of energy to be received from the grid was found to be 25,013 kWh/year, and the performance ratio of the system was 0.808. The net present value (NPV) of the system was calculated as $36,463.39, and the levelized cost of electricity (LCOE) was calculated as 0.065 $/kWh. Considering that the annual electricity generation amount of the rooftop PV system evaluated within the scope of the study is 315,152 kWh, it is estimated that 127.419 tCO2 per year of emission release will be prevented annually with the installation of the system.

Microgrids are decentralized power production systems, where the energy production and consumption are very close to each other. Microgrids generally exploit renewable energy sources, encountering a problem of storage, as the power production from solar and wind is intermittent. This research presents a new integrated methodology and discusses a comparison of batteries and pumped storage hydropower (PSH) as energy storage systems with the integration of wind and solar PV energy sources, which are the major upcoming technologies in the renewable energy sector. We implemented the simulator and optimizer model (HOMER), which develops energy availability usage to obtain optimized renewable energy integration in the microgrid, showing its economic added value. Two scenarios are run with this model—one considers batteries as an energy storage technology and the other considers PSH—in order to obtain the best economic and technical results for the analyzed microgrid. The economic analysis showed a lower net present cost (NPC) and levelized cost of energy (LCOE) for the microgrid with PSH. The results showed that the microgrid with the storage of PSH was economical, with an NPC of 45.8 M€ and an LCOE of 0.379 €/kWh, in comparison with the scenario with batteries, which had an NPC of 95.2 M€ and an LCOE of 0.786 €/kWh. The role of storage was understood by differentiating the data into different seasons, using a Python model. Furthermore, a sensitivity analysis was conducted by varying the capital cost multiplier of solar PV and wind turbines to obtain the best optimal economic solutions.

Run-of-river hydropower plants are a cost-efficient technology that produce a power output proportional to the instantaneous flow of water diverted from the exploited stream by exploiting several mechanical, hydraulic, and electric devices. However, as no storage is available, its design and operation is tailored according to the unpredictability of its power generation. Hence, the modelling of this type of power plants is a necessity for the promotion of its development. Accordingly, based on models from the literature, this study proposes a comprehensive methodology for optimally designed small run-of-river hydropower plants based on a levelized cost of energy (LCOE). The proposed methodology aims at facilitating a faster design for more cost-effective and energy-efficient small hydropower plants. Depending on the average daily flow rates and the gross head of a given site, the model proposed in this study calculates the diameter, thickness, and length of a penstock; it also suggests the optimal selection of a turbine, determines the admissible suction head of a turbine for its optimal implementation, and determines the optimal number of turbines, all in order to minimize the LCOE of the proposed project. The model is tested to design a small run-of-river hydropower plant with a capacity of 6.32 MW exploiting the river Nyong in Mbalmayo. The results confirm the profitability of the investment with an LCOE of around 0.05 USD/kWh, which is the lowest limit value of the LCOE range for small hydropower plants, as presented in the IPCC (Intergovernmental Panel on Climate Change) report, assuming a project lifespan of 50 years and a discount rate of 12.5%. These results also show that it may be worth to provide the energy sector with a small hydropower design tool with a graphical interface. In addition, it would be appropriate to use a similar method in an off-grid context where a hydropower plant, with or without storage, is combined with another source to meet the electrical needs of a given population. [ABSTRACT FROM AUTHOR]

Design modifications of the blade inner structure, targeted at reducing design-driving extreme loads due to storm conditions, are assessed in the present paper. Under survival wind speeds, the lack of sufficient aerodynamic damping in the edgewise direction is responsible for excessive stall-induced vibrations that usually drive wind turbine blade design loads. The modifications considered in the work are (i) a non-symmetric increase in the thickness of the uniaxial and tri-axial material on the suction and pressure side of the blade sections, (ii) a shift in the spar caps in opposite directions and (iii) the ply-angle re-orientation of the laminates on the spar caps. The first two design interventions aim at increasing the damping of the low-damped edgewise modes in the idling rotor, while the third aims at reducing the fatigue and ultimate loads in normal operation. The design parameters in the problem are determined on the basis of a multidisciplinary optimization (MDAO) process, which minimizes the levelized cost of energy (LCoE). The in-house integrated optimization tool employed in the present study combines: (i) a servo-aero-elastic analysis tool for calculating ultimate loads and power yield, (ii) a cross-sectional analysis tool for obtaining structural properties and stress distributions in the modified blades and (iii) a cost model of the overall wind turbine to evaluate the LCoE. [ABSTRACT FROM AUTHOR]

In the current era of the world, electricity has become a basic need of every individual. Therefore, the global energy demand has doubled from 77 trillion kWh to nearly 155 trillion kWh since 1980. However, despite the rising energy demand in developing countries, the per capita energy consumption only grew by about 14% globally. It is mainly because of the rural and remote areas where grid supply infrastructure is unavailable or inaccessible. Therefore, a solar-based microgrid (MG) can be considered an alternative energy solution. These MGs with energy storage support can be considered a viable solution because of the intermittent nature of solar photovoltaic (PV). In this regard, this paper describes the design, development, and deployment of a solar rooftop microgrid (SRMG) at the commercial building of BITS Pilani, India. Further, a comprehensive economic analysis is performed using a novel method of levelized cost of energy (LCOE) and payback period, and the results are compared with the traditional method's results. In order to improve the reliability of the SRMG, a demand side management (DSM) strategy is developed and implemented. It can effectively cater the unbalance between load and generation by shifting the non-critical loads to unused solar PV generation hours. It was found from the results that a significant energy of BESS is conserved which is reflected by the high state of charge (SOC) value. The developed design, economic analysis, and proposed DSM make the SRMG an economical and reliable energy solution. • The solar rooftop microgrid (SRMG) is designed by considering rural and remote areas' economic and reliability constraints. • Economic viability of the SRMG is estimated using the novel method of levelized cost of energy (LCOE) and payback period. • A demand side management (DSM) strategy is developed and implemented on the deployed SRMG to enhance its reliability. [ABSTRACT FROM AUTHOR]

Seawater desalination plants are considered the main source of fresh water in most of the GCC countries. Desalination is an energy-intensive process, where energy price represents more than 44% of the cost of desalinated water. Almost all commercial desalination plants rely on fossil fuel to secure the energy requirements either in thermal or electrical form. GCC countries are gifted with consistent and predictable solar energy that can be used to power the desalination processes and to improve their sustainability and to reduce their environmental impacts. Solar energy can be harvested using photovoltaics (PV) panels or different forms of concentrated solar power. In this paper, the energy cost in the form of levelized cost of energy (LCOE) was calculated for a PV solar energy generation plant and hence, the levelized cost of water (LCOW) for a reverse osmosis reference desalination plant in the six GCC countries had been estimated and compared. System Advisor Model (SAM) is a comprehensive renewable energy analysis software developed by the National Renewable Energy Laboratory and is used in this work. SAM relies on the metrological weather data for the evaluation of solar energy. The included financial model within SAM was used to estimate the LCOE and the Power Purchase Agreement price. A reference reverse osmosis desalination plant of a capacity of 400,000 m³/d (88 MIGD) has been used in this study. The power consumption of the plant is estimated as 76 MW at 4.56 kWh/m³. A photovoltaic power plant of capacity 76 MW was designed and the LCOE produced by this pant was estimated. The LCOE was different according to the PV plant location in GCC countries. The obtained LCOE is used to estimate the LCOW produced by this plant using Desalination Economic Evaluation Program software. The LCOE for the studied locations ranged from 8.46 to 9.11 ¢/kWh (1.0 USD $ = 100 ¢), and the LCOW ranged from 103.0 to 105.0 ¢/m³, compared to 10.737 ¢/kWh and 110.1 ¢/m³ for the conventional combined cycle power plant. [ABSTRACT FROM AUTHOR]

The optimal configuration of energy storage capacity is an important issue for large scale solar systems. a strategy for optimal allocation of energy storage is proposed in this paper. First various scenarios and their value of energy storage in PV applications are discussed. Then a double-layer decision architecture is proposed in this article. Net present value, investment payback period, internal rate of return are taken as the outer objective function, energy storage capacity is the optimal variables. The investment cost of energy storage system is taken as the inner objective function, the charge and discharge strategy of the energy storage system and augmentation are the optimal variables. Finally, the effectiveness and feasibility of the proposed model and method are verified through case simulations. The results show that the comprehensive evaluation index can be aimed at the concerns of energy storage investors, comprehensively evaluate the feasibility of the energy storage project, and obtain the corresponding energy storage scale when the comprehensive evaluation index is the highest.

This paper presses a smart charging decision-making criterion that significantly contributes in enhancing the scheduling of the electric vehicles (EVs) during the charging process. The proposed criterion aims to optimize the charging time, select the charging methodology either DC constant current constant voltage (DC-CCCV) or DC multi-stage constant currents (DC-MSCC), maximize the charging capacity as well as minimize the queuing delay per EV, especially during peak hours. The decision-making algorithms have been developed by utilizing metaheuristic algorithms including the Genetic Algorithm (GA) and Water Cycle Optimization Algorithm (WCOA). The utility of the proposed models has been investigated while considering the Mixed Integer Linear Programming (MILP) as a benchmark. Furthermore, the proposed models are seeded using the Monte Carlo simulation technique by estimating the EVs arriving density to the EVS across the day. WCOA has shown an overall reduction of 13% and 8.5% in the total charging time while referring to MILP and GA respectively. [ABSTRACT FROM AUTHOR]

In this paper, innovative ocean wave power takeoff (PTO) system is presented to enhance the electrical energy generation from oscillating wave motions. This PTO system, mainly consisting of dual-ball screws, a gearbox with mechanical motion rectification and a permanent magnet synchronous generator (PMSG), can convert bidirectional irregular motions from a floating wave buoy into unidirectional steady generator rotations. Systematical operating principles, design, and prototyping details of the PTO system are presented and analyzed. A hydrodynamic–mechanical–electrical model of the system is established by reasonably representing power switches attached to the PMSG as an equivalent external resistance. The overall dynamics of the system are then analyzed in the frequency domain. Three power control strategies are proposed to maximize the wave power absorption by changing the equivalent external resistance. The effectiveness and relatively high-energy conversion efficiency of the PTO system have been demonstrated based on lab bench test results. The levelized cost of energy of a full-scale wave energy converter system is also calculated based on the proposed PTO system. [ABSTRACT FROM AUTHOR]

The prestressed concrete–steel hybrid (PCSH) wind turbine tower, characterized by replacing the lower part of the traditional full-height steel tube wind turbine tower with a prestressed concrete (PC) segment, provides a potential alterative solution to transport difficulties and risks associated with traditional steel towers in mountainous areas. This paper proposes an optimization approach with a parallel updated particle swarm optimization (PUPSO) algorithm which aims at minimizing the objective function of the levelized cost of energy (LCOE) of the PCSH wind turbine towers in a life cycle perspective which represents the direct investments, labor costs, machinery costs, and the maintenance costs. Based on the constraints required by relevant specifications and industry standards, the geometry of a PCSH wind turbine tower for a 2 MW wind turbine is optimized using the proposed approach. The dimensions of the PCSH wind turbine tower are treated as optimization variables in the PUPSO algorithm. Results show that the optimized PCSH wind turbine tower can be an economic alternative for wind farms with lower LCOE requirements. In addition, compared with the traditional particle swarm optimization (PSO) algorithm and UPSO algorithm, the proposed PUPSO algorithm can enhance the optimization computation efficiency by about 60–110%. [ABSTRACT FROM AUTHOR]

The economic profitability of future wave energy production along the Galician coast is assessed by analyzing the Levelized Cost of Energy (LCoE) under different Capital Expenditure (CapEx) scenarios and two discounts rates (5% and 10%). Wave resources for the near future under the RCP8.5 scenario are downscaled using SWAN, providing up to 75 m spatial resolution in coastal areas. The study's goal is to enhance the cost-effectiveness by selecting the most suitable wave energy converter (WEC) for each location. Fourteen WECs operating at different depths are considered. This analysis reveals that the Atargis device boasts the lowest LCoE for 64.2% of the coastal area, mainly in deep waters, with an LCoE of 77 €/MWh. In addition, the Oyster and Wave Dragon devices exhibit the lowest LCoE for 12.4% and 15.0% of the coastal area, respectively, excelling in shallow waters and near the coast, with values of 50 €/MWh and 97 €/MWh. These findings demonstrate the profitability of wave energy production along the Galician coast, even when considering a more conservative CapEx of 3 M€/MW, resulting in a cost of 140 €/MWh. This conclusion takes into account the evolving electricity prices in Spain, which reached 0.2068 €/kWh in the second half of 2023. • LCoE analysis of the economic profitability of future wave energy production under different CapEx. • Future wave energy resource downscaled using SWAN under RCP8.5 along the Galician coast. • Fourteen different types of wave energy converters were considered operating at different depths. • Atargis, Oyster and Wave Dragon devices displayed along the Galician coast generate the lowest LCoE (€70/MWh). • Future wave energy production prices along the Galician coast are competitive compared to current Spanish electricity prices. [ABSTRACT FROM AUTHOR]

In this study, a hybrid photovoltaic-wind-concentrated solar power renewable energy system and two cogeneration models are proposed. Evaluation criteria are employed, including the levelized cost of energy (LCOE) and the loss of power supply probability (LPSP). The optimal configuration and dynamic dispatch strategy of the hybrid system are determined through multi-objective optimization using the natural resources of Xining City. The economic feasibility of the system is assessed through comparison and analysis. The findings reveal that both cogeneration modes of the system effectively meet the power output requirements and dynamic thermal load. In thermal energy storage tanks' heat production mode without a battery storage system, the system achieves a minimum LCOE of 0.0526$/kWh and a maximum LPSP of 6.86%. With a battery storage system in this mode, the system attains a minimum LPSP of 4.83% and a maximum LCOE of 0.160$/kWh. Additionally, in the turbine spent vapor recovery heat supply mode, the system exhibits an LCOE of 0.127$/kWh and an LPSP of 4.96%, the system has better flexibility and wind-solar complementarity in this mode. This study also analyzed the importance of affordable electric energy storage for stable energy supply in hybrid energy systems. [ABSTRACT FROM AUTHOR]

Run-of-river hydropower plants are a cost-efficient technology that produce a power output proportional to the instantaneous flow of water diverted from the exploited stream by exploiting several mechanical, hydraulic, and electric devices. However, as no storage is available, its design and operation is tailored according to the unpredictability of its power generation. Hence, the modelling of this type of power plants is a necessity for the promotion of its development. Accordingly, based on models from the literature, this study proposes a comprehensive methodology for optimally designed small run-of-river hydropower plants based on a levelized cost of energy (LCOE). The proposed methodology aims at facilitating a faster design for more cost-effective and energy-efficient small hydropower plants. Depending on the average daily flow rates and the gross head of a given site, the model proposed in this study calculates the diameter, thickness, and length of a penstock; it also suggests the optimal selection of a turbine, determines the admissible suction head of a turbine for its optimal implementation, and determines the optimal number of turbines, all in order to minimize the LCOE of the proposed project. The model is tested to design a small run-of-river hydropower plant with a capacity of 6.32 MW exploiting the river Nyong in Mbalmayo. The results confirm the profitability of the investment with an LCOE of around 0.05 USD/kWh, which is the lowest limit value of the LCOE range for small hydropower plants, as presented in the IPCC (Intergovernmental Panel on Climate Change) report, assuming a project lifespan of 50 years and a discount rate of 12.5%. These results also show that it may be worth to provide the energy sector with a small hydropower design tool with a graphical interface. In addition, it would be appropriate to use a similar method in an off-grid context where a hydropower plant, with or without storage, is combined with another source to meet the electrical needs of a given population.

Design modifications of the blade inner structure, targeted at reducing design-driving extreme loads due to storm conditions, are assessed in the present paper. Under survival wind speeds, the lack of sufficient aerodynamic damping in the edgewise direction is responsible for excessive stall-induced vibrations that usually drive wind turbine blade design loads. The modifications considered in the work are (i) a non-symmetric increase in the thickness of the uniaxial and tri-axial material on the suction and pressure side of the blade sections, (ii) a shift in the spar caps in opposite directions and (iii) the ply-angle re-orientation of the laminates on the spar caps. The first two design interventions aim at increasing the damping of the low-damped edgewise modes in the idling rotor, while the third aims at reducing the fatigue and ultimate loads in normal operation. The design parameters in the problem are determined on the basis of a multidisciplinary optimization (MDAO) process, which minimizes the levelized cost of energy (LCoE). The in-house integrated optimization tool employed in the present study combines: (i) a servo-aero-elastic analysis tool for calculating ultimate loads and power yield, (ii) a cross-sectional analysis tool for obtaining structural properties and stress distributions in the modified blades and (iii) a cost model of the overall wind turbine to evaluate the LCoE.

Throughout the world, various policies and regulations exist that govern the buying and selling of energy. In the United States, government mandates have been developed in the form of State-specific Renewable Portfolio Standards (RPSs) that require specific percentages of renewable energy consumption. RPS laws are managed through Power Purchase Agreements (PPAs) and bundled Renewable Energy Credits (RECs), other parts of the world use similar instruments. Both PPAs and RECs typically use a Levelized Cost of Energy (LCOE) calculation to determine the price of energy and may contain limitations on how much energy can be purchased. Conventional LCOE calculations do not account for asymmetry in cash flows that arise from PPA and REC imposed penalties, which can lead to significant errors. The objective of this paper is to use a modified LCOE to demonstrate the impacts of energy purchase limits and the combined effect of multiple energy generators entering into an energy purchase agreement with one buyer. The Maryland Offshore Renewable Energy Credit (OREC) is used as an analysis vehicle, which demonstrates that the effective LCOE can decrease by as much as 36% or increase by as much as 15% when RPS and REC energy purchase limits introduce cash flow asymmetry. • RENE-D-20-00559 Highlights. • Conventional LCOE calculations do not account for asymmetry in cash flows. • Cash flow asymmetries arise from PPA purchase limits and variable generation. • The developed model includes the effect of energy purchase limits on LCOE. • The analysis demonstrates that the LCOE can decrease or increase substantially. [ABSTRACT FROM AUTHOR]

In this work, performance analysis and comparison of three photovoltaic technologies are carried out in the Louisiana climate. During the calendar year of 2018, the University of Louisiana at Lafayette constructed and commissioned a 1.1 MW solar photovoltaic power plant for researching solar power in southern Louisiana and for partial energy demand of the university. It was one of the largest solar photovoltaic power plants in Louisiana when constructed and receives an annual solar insolation of 4.88 kWh/m2/d at latitude minus five degrees (25°) tilt. The solar power plant has a total of 4142 modules and incorporates three module technologies. Preliminary performance data from the system level are presented. The evaluation of different technologies is based on final yield, performance ratio, and capacity factor for one year from September 2019 to August 2020. An economic analysis is carried out using levelized cost of energy for the three photovoltaic (PV) technologies. Finally, the results are compared with simulated results of System Advisor Model (SAM) and PVsyst. It was found that copper indium gallium selenide (CIGS) has better performance ratio of 0.79 compared with monocrystalline silicon and polycrystalline silicon, which have performance ratios of 0.77 and 0.73, respectively. The simulation results correlated with the actual performance of the plant.

Over the past decade, the photovoltaic (PV) industry in China has made great progress. However, this progress benefited from a series of subsidy policies, and with the continuous enlargement of the scale of centralized PV (CPV), the large subsidies have created great pressure on government finance, so achieving grid parity in CPV electricity is an urgent matter. This paper studies the grid parity of CPV electricity. First, this paper calculates the levelized cost of energy (LCOE) of CPV electricity. Second, using historical data and a dual learning curve, the paper predicts the LCOE of CPV electricity under scenarios with different resource zones and utilization times. Third, the paper predicts the LCOE of coal-fired electricity and draws conclusions based on changes in the price of coal and charcoal. Finally, the paper predicts when grid parity in CPV electricity in different resources areas will be achieved. [ABSTRACT FROM AUTHOR]

Photovoltaic (PV) is developing rapidly in China, and the installed capacity and PV module shipping capacity are the first in the world. However, with the changes in the global economic environment and the uncertainty of China's PV policy, especially after the 531 new policy, China PV has started a new cycle. To understand the laws of the development of photovoltaics in China better, the article first introduces the distribution of China's solar resources, sorts out the development process of China's PV, focuses on the development of China's PV Top-runner project, and emphasizes the role of advanced technology in the application of the Top-runner project for grid parity and industrial development. Then it expounds the evolution of PV module technology, inverter technology and System design technology, and analyzes the development status of photovoltaic industry chain and production of Chinese PV enterprises. Finally, it summarizes and predicts the development trend of China's PV industry and gives recommendations for China's PV development.