IDEAS home Printed from https://ideas.repec.org/a/eee/energy/v208y2020ics0360544220314900.html
   My bibliography  Save this article

Levelized cost of electricity calculation of the energy generation plant of a CO2 neutral micro-grid

Author

Listed:
  • Arrinda, M.
  • Berecibar, M.
  • Oyarbide, M.
  • Macicior, H.
  • Muxika, E.
  • Messagie, M.

Abstract

The new paradigm of distributed energy generation is bringing the need of the development of new local management grid systems, also called micro-grids. However, their economic profitability it’s still uncertain. Accordingly, this paper develops a techno-economic assessment of the micro-grid by calculating the Levelized Cost of Electricity of the energy generation plant inside the micro-grid. The studied energy generation plant counts with a solar energy generation, wind energy generation and a lithium ion battery-based energy storage. The research work considers as certain the solar energy generation, the wind energy generation and the energy consumption based on data collected all over the 2017. However, it takes as uncertain the energy evolution and replacement of the batteries. The whole micro-grid that integrates the electric, thermal and aging behavior of the batteries is simulated in order to calculate those uncertain variables under different battery operation criteria and battery thermal management systems. As result, this paper presents a high accurate and detailed cost assessment for different battery operation scenarios, where the most profitable combination of thermal management and battery operation criteria are obtained.

Suggested Citation

  • Arrinda, M. & Berecibar, M. & Oyarbide, M. & Macicior, H. & Muxika, E. & Messagie, M., 2020. "Levelized cost of electricity calculation of the energy generation plant of a CO2 neutral micro-grid," Energy, Elsevier, vol. 208(C).
    • Handle: RePEc:eee:energy:v:208:y:2020:i:c:s0360544220314900
    DOI: 10.1016/j.energy.2020.118383
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0360544220314900
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.energy.2020.118383?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Weitzel, Timm & Glock, Christoph H., 2018. "Energy management for stationary electric energy storage systems: A systematic literature review," European Journal of Operational Research, Elsevier, vol. 264(2), pages 582-606.
    2. Monika Sandelic & Daniel-Ioan Stroe & Florin Iov, 2018. "Battery Storage-Based Frequency Containment Reserves in Large Wind Penetrated Scenarios: A Practical Approach to Sizing," Energies, MDPI, vol. 11(11), pages 1-19, November.
    3. Howell, Shaun & Rezgui, Yacine & Hippolyte, Jean-Laurent & Jayan, Bejay & Li, Haijiang, 2017. "Towards the next generation of smart grids: Semantic and holonic multi-agent management of distributed energy resources," Renewable and Sustainable Energy Reviews, Elsevier, vol. 77(C), pages 193-214.
    4. Engels, Jonas & Claessens, Bert & Deconinck, Geert, 2019. "Techno-economic analysis and optimal control of battery storage for frequency control services, applied to the German market," Applied Energy, Elsevier, vol. 242(C), pages 1036-1049.
    5. Bruck, Maira & Sandborn, Peter & Goudarzi, Navid, 2018. "A Levelized Cost of Energy (LCOE) model for wind farms that include Power Purchase Agreements (PPAs)," Renewable Energy, Elsevier, vol. 122(C), pages 131-139.
    6. Tervo, Eric & Agbim, Kenechi & DeAngelis, Freddy & Hernandez, Jeffrey & Kim, Hye Kyung & Odukomaiya, Adewale, 2018. "An economic analysis of residential photovoltaic systems with lithium ion battery storage in the United States," Renewable and Sustainable Energy Reviews, Elsevier, vol. 94(C), pages 1057-1066.
    7. Lai, Chun Sing & McCulloch, Malcolm D., 2017. "Levelized cost of electricity for solar photovoltaic and electrical energy storage," Applied Energy, Elsevier, vol. 190(C), pages 191-203.
    8. Lowitzsch, J. & Hoicka, C.E. & van Tulder, F.J., 2020. "Renewable energy communities under the 2019 European Clean Energy Package – Governance model for the energy clusters of the future?," Renewable and Sustainable Energy Reviews, Elsevier, vol. 122(C).
    9. Weitzel, Timm & Glock, C. H., 2018. "Energy Management for Stationary Electric Energy Storage Systems: A Systematic Literature Review," Publications of Darmstadt Technical University, Institute for Business Studies (BWL) 88880, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute for Business Studies (BWL).
    10. Yimy E. García-Vera & Rodolfo Dufo-López & José L. Bernal-Agustín, 2020. "Optimization of Isolated Hybrid Microgrids with Renewable Energy Based on Different Battery Models and Technologies," Energies, MDPI, vol. 13(3), pages 1-17, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Lyu, Chenghao & Zhang, Yuchen & Bai, Yilin & Yang, Kun & Song, Zhengxiang & Ma, Yuhang & Meng, Jinhao, 2024. "Inner-outer layer co-optimization of sizing and energy management for renewable energy microgrid with storage," Applied Energy, Elsevier, vol. 363(C).
    2. Ma, Xun & Li, Ming & Peng, Ye & Sun, Linyao & Chen, Chuangye, 2022. "Development of thermo–electrical loss model for photovoltaic module with inhomogeneous temperature," Energy, Elsevier, vol. 248(C).
    3. Wang, Fengjuan & Xu, Jiuping & Liu, Liying & Yin, Guangming & Wang, Jianhua & Yan, Jinyue, 2021. "Optimal design and operation of hybrid renewable energy system for drinking water treatment," Energy, Elsevier, vol. 219(C).
    4. Muhammed Shahid & Rizwan Aslam Butt & Attaullah Khawaja, 2022. "Fiscal- and Space-Constrained Energy Optimization Model for Hybrid Grid-Tied Solar Nanogrids," Energies, MDPI, vol. 15(21), pages 1-15, October.
    5. Karadöl, İsrafil & Yıldız, Ceyhun & Şekkeli, Mustafa, 2021. "Determining optimal spatial and temporal complementarity between wind and hydropower," Energy, Elsevier, vol. 230(C).
    6. Ziad M. Ali & Martin Calasan & Shady H. E. Abdel Aleem & Francisco Jurado & Foad H. Gandoman, 2023. "Applications of Energy Storage Systems in Enhancing Energy Management and Access in Microgrids: A Review," Energies, MDPI, vol. 16(16), pages 1-41, August.
    7. Mikel Arrinda & Gorka Vertiz & Denis Sanchéz & Aitor Makibar & Haritz Macicior, 2022. "Surrogate Model of the Optimum Global Battery Pack Thermal Management System Control," Energies, MDPI, vol. 15(5), pages 1-20, February.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Beatrice Marchi & Simone Zanoni & Marco Pasetti, 2019. "Multi-Period Newsvendor Problem for the Management of Battery Energy Storage Systems in Support of Distributed Generation," Energies, MDPI, vol. 12(23), pages 1-13, December.
    2. Trocino, Stefano & Lo Faro, Massimiliano & Zignani, Sabrina Campagna & Antonucci, Vincenzo & Aricò, Antonino Salvatore, 2019. "High performance solid-state iron-air rechargeable ceramic battery operating at intermediate temperatures (500–650 °C)," Applied Energy, Elsevier, vol. 233, pages 386-394.
    3. Barzegkar-Ntovom, Georgios A. & Chatzigeorgiou, Nikolas G. & Nousdilis, Angelos I. & Vomva, Styliani A. & Kryonidis, Georgios C. & Kontis, Eleftherios O. & Georghiou, George E. & Christoforidis, Georg, 2020. "Assessing the viability of battery energy storage systems coupled with photovoltaics under a pure self-consumption scheme," Renewable Energy, Elsevier, vol. 152(C), pages 1302-1309.
    4. Marco Pasetti, 2021. "Assessing the Effectiveness of the Energy Storage Rule-Based Control in Reducing the Power Flow Uncertainties Caused by Distributed Photovoltaic Systems," Energies, MDPI, vol. 14(8), pages 1-25, April.
    5. Benedikt Finnah, 2022. "Optimal bidding functions for renewable energies in sequential electricity markets," OR Spectrum: Quantitative Approaches in Management, Springer;Gesellschaft für Operations Research e.V., vol. 44(1), pages 1-27, March.
    6. Finnah, Benedikt & Gönsch, Jochen & Ziel, Florian, 2022. "Integrated day-ahead and intraday self-schedule bidding for energy storage systems using approximate dynamic programming," European Journal of Operational Research, Elsevier, vol. 301(2), pages 726-746.
    7. Golpîra, Hêriş & Khan, Syed Abdul Rehman, 2019. "A multi-objective risk-based robust optimization approach to energy management in smart residential buildings under combined demand and supply uncertainty," Energy, Elsevier, vol. 170(C), pages 1113-1129.
    8. Collath, Nils & Cornejo, Martin & Engwerth, Veronika & Hesse, Holger & Jossen, Andreas, 2023. "Increasing the lifetime profitability of battery energy storage systems through aging aware operation," Applied Energy, Elsevier, vol. 348(C).
    9. Emilio Ghiani & Alessandro Serpi & Virginia Pilloni & Giuliana Sias & Marco Simone & Gianluca Marcialis & Giuliano Armano & Paolo Attilio Pegoraro, 2018. "A Multidisciplinary Approach for the Development of Smart Distribution Networks," Energies, MDPI, vol. 11(10), pages 1-29, September.
    10. Wei, Shaoyuan & Murgovski, Nikolce & Jiang, Jiuchun & Hu, Xiaosong & Zhang, Weige & Zhang, Caiping, 2020. "Stochastic optimization of a stationary energy storage system for a catenary-free tramline," Applied Energy, Elsevier, vol. 280(C).
    11. Schrotenboer, Albert H. & Veenstra, Arjen A.T. & uit het Broek, Michiel A.J. & Ursavas, Evrim, 2022. "A Green Hydrogen Energy System: Optimal control strategies for integrated hydrogen storage and power generation with wind energy," Renewable and Sustainable Energy Reviews, Elsevier, vol. 168(C).
    12. Mendicino, Luca & Menniti, Daniele & Pinnarelli, Anna & Sorrentino, Nicola, 2019. "Corporate power purchase agreement: Formulation of the related levelized cost of energy and its application to a real life case study," Applied Energy, Elsevier, vol. 253(C), pages 1-1.
    13. Rodrigues, Stefane Dias & Garcia, Vinicius Jacques, 2023. "Transactive energy in microgrid communities: A systematic review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 171(C).
    14. Sgarbossa, Fabio & Arena, Simone & Tang, Ou & Peron, Mirco, 2023. "Renewable hydrogen supply chains: A planning matrix and an agenda for future research," International Journal of Production Economics, Elsevier, vol. 255(C).
    15. Gerlach, Lisa & Bocklisch, Thilo & Verweij, Marco, 2023. "Selfish batteries vs. benevolent optimizers," Renewable and Sustainable Energy Reviews, Elsevier, vol. 177(C).
    16. Kimitaka Asatani & Haruo Takeda & Hiroko Yamano & Ichiro Sakata, 2020. "Scientific Attention to Sustainability and SDGs: Meta-Analysis of Academic Papers," Energies, MDPI, vol. 13(4), pages 1-21, February.
    17. Carroll, P. & Chesser, M. & Lyons, P., 2020. "Air Source Heat Pumps field studies: A systematic literature review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 134(C).
    18. Mejia, Cristian & Kajikawa, Yuya, 2020. "Emerging topics in energy storage based on a large-scale analysis of academic articles and patents," Applied Energy, Elsevier, vol. 263(C).
    19. Seddig, Katrin & Jochem, Patrick & Fichtner, Wolf, 2019. "Two-stage stochastic optimization for cost-minimal charging of electric vehicles at public charging stations with photovoltaics," Applied Energy, Elsevier, vol. 242(C), pages 769-781.
    20. Xin-gang, Zhao & Yi-min, Xie, 2019. "The economic performance of industrial and commercial rooftop photovoltaic in China," Energy, Elsevier, vol. 187(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:energy:v:208:y:2020:i:c:s0360544220314900. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.journals.elsevier.com/energy .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.