An MILP model for cost-optimal planning of an on-grid hybrid power system for an eco-industrial park. (1st December 2016)

• Record Type: Journal Article
• Authors: Theo, Wai Lip; Lim, Jeng Shiun; Wan Alwi, Sharifah Rafidah; Mohammad Rozali, Nor Erniza; Ho, Wai Shin; Abdul-Manan, Zainuddin
• Is Part Of: Energy. Volume 116:Part 2(2016)
• Page Start: 1423
• Page End: 1441
• Publication Date: 2016-12-01
• Subjects: On-grid hybrid power system -- Energy planning -- Renewable resources -- Mathematical modeling -- Optimisation -- Eco-industrial park; Power resources -- Periodicals; Power (Mechanics) -- Periodicals; Energy consumption -- Periodicals; 333.7905
• DOI: 10.1016/j.energy.2016.05.043
• Languages: English
• ISSNs: 0360-5442

Abstract

Abstract: The application of on-grid hybrid power system (HPS) has been effective for harnessing renewable energy resources and ensuring environmental sustainability. A number of algebraic and mathematical modeling approaches have been introduced for the optimisation of on-grid HPS. While algebraic power pinch analysis (PoPA) tools have been developed to enable the selection of cost-effective energy storage technology, the available mathematical modeling approaches have yet to consider the economics and storage system selection in the design of an optimal on-grid HPS. This work presents a mixed-integer linear programming (MILP) for the optimal design of an on-grid HPS with the minimum net present value (NPV) of the overall electricity production cost and the selection of the optimum energy storage technology. Two case studies are presented in this work. In the former, the differences between the developed MILP model and previous methods are highlighted, with sensitivity analysis to investigate the impact of electricity tariff on the on-grid HPS. In the second case study, the developed MILP model was applied to an Eco-Industrial Park (EIP) case study with energy storage technology selection. Lead-acid battery system was found to be the optimal choice due to its low investment requirement. Highlights: An MILP model for designing cost-optimal hybrid power systems. Energy storage technology with the minimum net present value (NPV). Impacts of electricity tariff on energy storage size and outsourced electricity. Case study on renewable energy system design for an eco-industrial park