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Computer Model for Financial, Environmental and Risk Analysis of a Wind–Diesel Hybrid System with Compressed Air Energy Storage

Author

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  • Youssef Benchaabane

    (Laboratoire de recherche en énergie éolienne, Université du Québec à Rimouski, Rimouski, QC G5L 3A1, Canada)

  • Rosa Elvira Silva

    (Institut technologique de maintenance industrielle, Cégep de Sept-Îles, Sept-Îles, QC G4R 5B7, Canada
    Groupe de recherche en électronique de puissance et commande industrielle, École de Technologie Supérieure, Montréal, QC H3C 1K3, Canada)

  • Hussein Ibrahim

    (Institut technologique de maintenance industrielle, Cégep de Sept-Îles, Sept-Îles, QC G4R 5B7, Canada)

  • Adrian Ilinca

    (Laboratoire de recherche en énergie éolienne, Université du Québec à Rimouski, Rimouski, QC G5L 3A1, Canada)

  • Ambrish Chandra

    (Groupe de recherche en électronique de puissance et commande industrielle, École de Technologie Supérieure, Montréal, QC H3C 1K3, Canada)

  • Daniel R. Rousse

    (Groupe de recherche industrielle en technologies de l’énergie et en efficacité énergétique, École de Technologie Supérieure, Montréal, QC H3C 1K3, Canada)

Abstract

Remote and isolated communities in Canada experience gaps in access to stable energy sources and must rely on diesel generators for heat and electricity. However, the cost and environmental impact resulting from the use of fossil fuels, especially in local energy production, heating, industrial processes and transportation are compelling reasons to support the development and deployment of renewable energy hybrid systems. This paper presents a computer model for economic analysis and risk assessment of a wind–diesel hybrid system with compressed air energy storage. The proposed model is developed from the point of view of the project investor and it includes technical, financial, risk and environmental analysis. Robustness is evaluated through sensitivity analysis. The model has been validated by comparing the results of a wind–diesel case study against those obtained using HOMER (National Renewable Energy Laboratory, Golden, CO, United States) and RETScreen (Natural Resources Canada, Government of Canada, Canada) software. The impact on economic performance of adding energy storage system in a wind–diesel hybrid system has been discussed. The obtained results demonstrate the feasibility of such hybrid system as a suitable power generator in terms of high net present value and internal rate of return, low cost of energy, as well as low risk assessment. In addition, the environmental impact is positive since less fuel is used.

Suggested Citation

  • Youssef Benchaabane & Rosa Elvira Silva & Hussein Ibrahim & Adrian Ilinca & Ambrish Chandra & Daniel R. Rousse, 2019. "Computer Model for Financial, Environmental and Risk Analysis of a Wind–Diesel Hybrid System with Compressed Air Energy Storage," Energies, MDPI, vol. 12(21), pages 1-23, October.
    • Handle: RePEc:gam:jeners:v:12:y:2019:i:21:p:4054-:d:279840
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    References listed on IDEAS

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    Cited by:

    1. Vaziri Rad, Mohammad Amin & Kasaeian, Alibakhsh & Niu, Xiaofeng & Zhang, Kai & Mahian, Omid, 2023. "Excess electricity problem in off-grid hybrid renewable energy systems: A comprehensive review from challenges to prevalent solutions," Renewable Energy, Elsevier, vol. 212(C), pages 538-560.
    2. Elena Sosnina & Andrey Dar’enkov & Andrey Kurkin & Ivan Lipuzhin & Andrey Mamonov, 2022. "Review of Efficiency Improvement Technologies of Wind Diesel Hybrid Systems for Decreasing Fuel Consumption," Energies, MDPI, vol. 16(1), pages 1-38, December.
    3. Javier Solano & Diego Jimenez & Adrian Ilinca, 2020. "A Modular Simulation Testbed for Energy Management in AC/DC Microgrids," Energies, MDPI, vol. 13(16), pages 1-23, August.

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