ARTICLE | doi:10.20944/preprints202308.0300.v1
Subject: Engineering, Civil Engineering Keywords: hydropower; energy storage; pumped storage hydropower (PSH); batteries; net present cost (NPC); levelized cost of energy (LCOE); microgrids
Online: 3 August 2023 (11:27:08 CEST)
: There has been an ever-increasing demand for energy from the past decades. Renewable energy technologies play a major role in satisfying the energy demand as well as in a decreased CO2 emissions. Solar and Wind energies are the major upcoming technologies in renewable energies. Decentralized power production is a system where the energy production and consumption are very close to each other. Microgrids can be decentralized or grid connected and they, with renewable energy sources, encounter a problem of storage as the power production from solar and wind is intermittent. This paper discusses the comparison between using batteries and pumped storage hydropower (PSH) as an energy storage system and the integration of wind and solar PV energy sources. HOMER software simulations are used to obtain optimized renewable energy integration in microgrid and to understand its economic analysis. Two scenarios are run with the model where one considers battery and the other considers PSH to obtain the economic and technical best results of these microgrids. The economic analysis showed a lower net present cost (NPC) and levelized cost of energy (LCOE) for the microgrid with PSH. The results show that microgrid with storage of PSH is economical with an NPC of 45.8 M€ and an LCOE of 0.379 €/kWh in comparison with batteries solution which has an NPC of 95.2M€ and an LCOE of 0.786 €/kWh. The role of storage is understood by differentiating the data into different seasons using Python for data analysis. Furthermore, sensitivity analysis is made by varying the capital cost multiplier of Solar PV and Wind Turbine to obtain optimal solutions.