A simple effective model is proposed for the day-ahead electricity market. The model considers the main factors which govern the process, predicts the seasonal and daily variation of electricity demand, renewable production, system marginal price, and merit order effect. The accuracy of the model is increased by fitting to historic data of the Hellenic electricity market. During the period between October 2016 and December 2018, the Hellenic electricity market calculated explicitly the merit order effect using an innovative mechanism to directly charge the electricity suppliers (retailers). On the basis of the proposed model and the market recorded data, the effect of the renewable penetration on the wholesale Hellenic electricity prices is revealed. The model is further used to analyze the market future behavior when basic factors (electricity demand, conventional power, and renewable penetration) are known or estimated. The effect of merit order effect on the Hellenic legislation is discussed and the appropriate measures adopted by the Hellenic authorities are analyzed and evaluated.

Abstract:Recently, an interesting experiment was completed in Greece concerning photovoltaic penetration into the electricity production sector. Based on the relevant laws and in accordance to the related European directives, an explosive penetration process was completed in less than three years, resulting in a 7% share of photovoltaics in electricity production instead of the previous negligible share. The legislation was based on licensing simplification and generous feed-in-tariffs. This approach transformed photovoltaic technology from a prohibitively expensive to a competitive one. This work aims to summarize the relevant legislation and illustrate its effect on the resulting penetration. A sigmoid-shape penetration was observed which was explained by a pulse-type driving force. The return on investment indicator was proposed as an appropriate driving force, which incorporates feed-in-tariffs and turnkey-cost. Furthermore, the resulting surcharge on the electricity price due to photovoltaic penetration was also analyzed.

Cogeneration is a cost-effective technology, and modern greenhouses are considered one of the best applications for it due to their energy intensity. Taking into account that in such cases the production cost is significantly affected by the cost of energy, the potential of combined heat and power (CHP) has already been examined and proved in practice in some European countries, with the Netherlands being the most representative example. In this study, a comparative investigation of the greenhouse energy cost in all European countries is presented through the use of a combined cooling heat and power (CCHP) system. Using actual historical data spanning a decade, a total overview of the European level is given regarding greenhouse thermal requirements and CCHP energy costs for the cultivation of products with an accepted temperature cultivation range 20 ± 5 °C. By consulting (a) the available daily historical meteorological data for the 2008–2018 period, (b) the recorded actual electricity and natural gas prices for the 2008–2018 period, and (c) the technical characteristics of the CCHP system, the annual heating and cooling requirements of greenhouses are determined for all EU countries. Assuming a cogeneration unit with an internal combustion engine (ICE) as a prime mover, as well as a single-effect absorption chiller for the production of useful cooling, the unitary cost of energy is estimated along with the annual cost for heating and cooling per unit cultivation area. Using this methodology, the economic efficiency of cogeneration in greenhouses is assessed for the selected 10-year period, allowing the identification of the countries that benefit the most from this technology. The results indicate that the spark ratio (e.g., the electricity to natural gas price ratio) is the most crucial parameter for greenhouse costs. For countries where the ratio is larger than 3, greenhouses can even result in an extra cashflow instead of energy expenditures. The most favorable conditions for cogeneration use were found in Italy and the United Kingdom with an average spark ratio more than 4, resulting in an annual total cost of heating energy close to −7 €/m2 per year. On the other hand, cogeneration proved not to be a cost-efficient system in Sweden and Finland as a result of significantly high greenhouse energy requirements.

A systematic method to evaluate the economic operating performance of existing combined heat and power (CHP) or combined cooling heat and power (CCHP) generation systems is applied. Two key performance indicators are selected to evaluate both the technical and the economic performance, based on operating recording data; the capacity factor and the capital recovery. The case study for eight projects in Athens is presented with the purpose to reveal the current situation of CHP in Greece and identify reasons that are hindering its penetration. Interesting conclusions were reached from the analysis. Only two out of the eight projects managed to achieve the break-even point in less than four years since the beginning of their operation, while oversizing phenomena were noticed in many cases leading in extremely low capacity factors.

The techno-economic performance evaluation of a combined cooling heating and power (CCHP) system installed in a hospital building in Greece is presented. The aim was to verify performance standards and evaluate real behavior, while highlighting the economic gains. In this research, system performance was evaluated using actual and year-round field measurements. The data were used to calculate the recovered heat and the generated electric energy. Furthermore, the performance was modeled and compared to the manufacturer specifications. Financial assessment was conducted through energy cost analysis to verify the operating viability of the system, both for its heating and cooling functions. The results showed that, overall, after eight years of operation, the energy efficiency was still within design standards. Electrical efficiency was constantly above 30%, while thermal efficiency was around 40–45%. Total efficiency was usually above the 75% threshold, characterizing the system as fully CHP operating. The analysis also pointed out the economic effectiveness of the system in the Greek energy market. The results verified the potential of a CCHP system for improving the energy and economic performance of a building.