Risk modeling of domestic solar water heater using Monte Carlo simulation for east-coastal region of India

Rout, Auroshis; Sahoo, Sudhansu S.; Thomas, Sanju

doi:10.1016/j.energy.2018.01.018

Cited by 29 publications

(10 citation statements)

References 22 publications

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“…In general, a high value corresponds to greater magnitude of stratification and zero value corresponds to a uniform temperature distribution within the tank. Equations (5) and (6) define the stratification number, Str, as: Figure 13 shows the stratification number corresponding to different discharge flow rates. The trend observed revealed that 3 Lpm was able to sustain the value closer to one for a longer duration, when compared to the other flow rates.…”

Section: Numerical Results Of Etcswhmentioning

confidence: 99%

See 1 more Smart Citation

Computational fluid dynamics analysis on solar water heater: Role of thermal stratification and mixing on dynamic mode of operation

Dileep

Raj²,

Dishnu³

et al. 2020

Therm sci

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The present work attempts to demonstrate the competence and reliability of the proposed computational solver for real-scale modelling and analysis of a commercially available evacuated tube collector type solar water heater. A 3-D, transient numerical solver with user-defined functions is modelled using CFD program ANSYS-Fluent 15.0 ® . The objective is to analyse the evacuated tube collector type solar water heater in two states of operation, namely, static (stagnant charging) and dynamic (retrieval) modes. This work emphasizes the determination of the impact of thermal stratification, and fluid mixing in the storage tank on the outlet temperature profile during discharging. Volume flow rates vary from 3-15 Lpm. The reported findings suggest that with an increase of fluid-flow during discharge, the stratified layers disorient and lead to rapid mixing, which eventually results in an earlier drop in the outlet water temperature. Furthermore, at low fluid-flow rates, the stratified layers remain intact with only a gradual decay in the outlet temperature profile. The analysis reveals that based on the user's choice, it is possible to vary discharge flow rate until 7 Lpm without a significant drop in the outlet water temperature. Furthermore, computational results have been successfully validated with experimental findings.

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Section: Numerical Results Of Etcswhmentioning

confidence: 99%

“…Rout et al [6] performed a detailed economic analysis using Monte Carlo simulation and net present value (NPV) tool. The NPV based on eight dynamic variables assures the competence of domestic SWH as a viable option irrespective of its high initial investment cost.…”

Section: Introductionmentioning

confidence: 99%

Computational fluid dynamics analysis on solar water heater: Role of thermal stratification and mixing on dynamic mode of operation

Dileep

Raj²,

Dishnu³

et al. 2020

Therm sci

View full text Add to dashboard Cite

show abstract

“…Using the optimal configurations achieved in the second stage, the Monte-Carlo Simulation is applied in the third stage to fully consider the possibilities of various scenarios. The objective of the Monte-Carlo Simulation is to obtain the results under various sets of conditions and attach a probability that the system will achieve certain levels of performance [15,16]. A detailed discussion of Monte-Carlo Simulation and its application to DES is shown in [14,17].…”

Section: Optimization Methodsmentioning

confidence: 99%

Three-stage optimization method for distributed energy system design under uncertainty

Wang

Peng

et al. 2021

Therm sci

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Reasonable capacity configurations of distributed energy system are issues which need to be discussed. Determinate design without considering variations in energy load and energy prices can result in non-achievement of project targets during its service life. Therefore, a design method that takes into account uncertain factors takes precedence over other methods. In this paper, a three-stage optimization method is proposed to provide theoretical guidance on the optimization of combined cooling, heating and power (CCHP) system configurations. The first two stages link the optimization of the operation strategy and equipment capacities simultaneously under current load and energy prices. The Monte-Carlo Simulation is applied in the third stage to fully consider the effects of various possible scenarios, and the Tabu search algorithm (TS) was introduced for system optimization. The comprehensive benefits include energy consumption, economy, and emission level. These were taken into consideration in the objective function. Moreover, a detailed design process was presented to illustrate the application of the proposed method. In conclusion, the proposed method is not only suitable for the design of CCHP system, but could easily extend to other energy system easily.

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“…Through the research on the purchase and sales of electricity sold by the electricity retailers in the wholesale market and the retail market, it can be found that there were different degrees of risk in multiple links. The electricity retailers needed to set the user subsidy spread and multi‐level market electricity purchase combination to estimate and control the risk of purchase and sales . However, most studies considered only on the medium‐ or long‐term contracts of a single electricity source, or only proposed pricing decisions, thus had insufficient research on risk.…”

Section: Introductionmentioning

confidence: 99%

Trading risk control model of electricity retailers in multi‐level power market of China

Sun

2019

Energy Science & Engineering

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The decision-making and risk assessment of electricity purchase and sales is the key to adapt to the electricity market for independent electricity retailers in China. This research carried out the purchase and sales risks of electricity for electricity retailers and constructed the multi-level market purchase and sales combination optimization model. Based on the portfolio optimization theory, the conditional value at risk theory (CVaR) was proposed. Based on the evaluation index about the conditional risk profit and CVaR, electricity retailers purchase and sales combined optimization model has been constructed to explore the impact of purchase and sales risks by different factors in multi-level electricity market. The example analysis was carried out by the fixed spread mode and the linkage spread mode. The results showed that the mathematical mean and variance of market spread had great influence on the electricity purchase and sales combination. Especially in the mature electricity market, the mathematical mean of spread and risk in medium-and long-term market was smaller than that in spot market, and the best point of the electricity purchase and sales combination was shown on the smallest value of CVaR, while the electricity purchase and sales combination was optimal under limited conditions. K E Y W O R D Sconditional value at risk theory, electricity retailer, risk assessment, spread model

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Risk modeling of domestic solar water heater using Monte Carlo simulation for east-coastal region of India

Cited by 29 publications

References 22 publications

Computational fluid dynamics analysis on solar water heater: Role of thermal stratification and mixing on dynamic mode of operation

Computational fluid dynamics analysis on solar water heater: Role of thermal stratification and mixing on dynamic mode of operation

Three-stage optimization method for distributed energy system design under uncertainty

Trading risk control model of electricity retailers in multi‐level power market of China

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