The levelized cost of energy and modifications for use in electricity generation planning

Kabeyi, Moses Jeremiah Barasa; Olanrewaju, Oludolapo Akanni

doi:10.1016/j.egyr.2023.06.036

Cited by 39 publications

(11 citation statements)

References 35 publications

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“…The objective of the V2G charging or discharging operation was to eliminate the SPG forecast error in Equation (2). Therefore, a positive action by q t expressed the charging operation, and vice versa.…”

Section: Spg Forecast Error Modelmentioning

confidence: 99%

“…Notably, solar power has become the predominant form of renewable energy, contributing to over 70% of the additions globally. The preference for solar energy stems from its dual benefits: addressing environmental problems and offering economic advantages through a lower levelized cost of energy (LCOE) compared to traditional fossil fuels in developed nations [2].…”

Section: Introduction 1motivationmentioning

confidence: 99%

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Deep-Reinforcement-Learning-Based Vehicle-to-Grid Operation Strategies for Managing Solar Power Generation Forecast Errors

Jang,

2024

Sustainability

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This study proposes a deep-reinforcement-learning (DRL)-based vehicle-to-grid (V2G) operation strategy that focuses on the dynamic integration of charging station (CS) status to refine solar power generation (SPG) forecasts. To address the variability in solar energy and CS status, this study proposes a novel approach by formulating the V2G operation as a Markov decision process and leveraging DRL to adaptively manage SPG forecast errors. Utilizing real-world data from the Korea Southern Power Corporation, the effectiveness of this strategy in enhancing SPG forecasts is proven using the PyTorch framework. The results demonstrate a significant reduction in the mean squared error by 40% to 56% compared to scenarios without V2G. Our investigation into the effects of blocking probability thresholds and discount factors revealed insights into the optimal V2G system performance, suggesting a balance between immediate operational needs and long-term strategic objectives. The findings highlight the possibility of using DRL-based strategies to achieve more reliable and efficient renewable energy integration in power grids, marking a significant step forward in smart grid optimization.

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Section: Spg Forecast Error Modelmentioning

confidence: 99%

Section: Introduction 1motivationmentioning

confidence: 99%

Deep-Reinforcement-Learning-Based Vehicle-to-Grid Operation Strategies for Managing Solar Power Generation Forecast Errors

Jang,

2024

Sustainability

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“…For the execution of the iterative calculations, the economic parameters presented in Table 3 were assumed, based on real quotations provided by the equipment potential manufacturers and on relevant essential market research. The LCOE was calculated with the following relationship [50]:…”

Section: Economic Parametersmentioning

confidence: 99%

Toward a Renewable and Sustainable Energy Pattern in Non-Interconnected Rural Monasteries: A Case Study for the Xenofontos Monastery, Mount Athos

Katsaprakakis

2024

Sustainability

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The scope of this article is to study and propose optimized electricity production plants powered by renewable energy sources, in the frame of energy transition in non-interconnected, rural monasteries. Energy transition, namely, the transition from fossil fuels to renewables and rational use of energy, constitutes a major component of sustainability. In particular, monasteries constitute a special and unique category of rural communities, given their size and the scale of the electricity demand. As a case study, this work focuses on the Xenofontos Monastery, in Mount Athos. Mount Athos, practically a mountainous peninsula at the North Aegean Sea (central-south Macedonia, Greece), is an independent and self-governed community of 20 different monasteries, with no electrical interconnection between them. The electrification of these monasteries started in the 1980s, with the installation of autonomous small diesel generators. Since 2010, an attempt has been initiated to replace these generators with power production and storage technologies based on renewable energy sources, aiming to approach a more energy-independent and sustainable pattern in the peninsula. The article examines two alternative systems, with small wind turbines and photovoltaic panels as the power production units and small pumped hydro storage or electrochemical batteries as storage technologies. New operation algorithms were developed and the sizing of the systems was accomplished through the computational simulation of the examined plants’ annual operations, aiming at full coverage of the power demand. The article proves that 100% power demand coverage from hydro power plants is possible with the support of pumped storage, achieving a Levelized Cost Of Electricity in the range of 0.22 EUR/kWh. This feature can be reduced at 0.11 EUR/kWh with the support of lithium-ion batteries, yet with annual power demand coverage at 90%.

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“…Biogas has various applications that include production of biofuels as renewable energies; reduction in greenhouse gas emissions; removal of odors and flies, which are generally associated with uncontrolled biomass biodegrading; financial savings and revenue from biogas derived energy products like electricity and biomethane, waste treatment; and recycling of organic waste; reduced air and water pollution; alleviation of rural poverty; and better social conditions of rural or remote settlements, which include gender balance since the women who mainly bear the responsibility of looking for fuel will have an opportunity to engage in other tasks while forests and vegetation will be conserved due to reduced use of firewood and charcoal [2,6,79,80].…”

Section: Benefits Of Biogas As a Renewable Energy Resourcementioning

confidence: 99%

Biogas as a Sustainable Fuel and Feedstock: Properties, Purification, and Applications

Jeremiah Barasa Kabeyi,

Akanni Olanrewaju

2024

From Biomass to Biobased Products

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Biogas is a renewable energy resource derived from biomass mainly through anaerobic digestion. Methane (CH4) and carbon dioxide (CO2) and trace elements significantly affect the fuel. Hence, the undesirable components are undesirable and should be removed for various biogas applications. This makes it necessary to purify raw biogas to increase its utility making it suitable for many applications as a sustainable energy resource and process feedstock. Biogas can make substantial contribution to realization of sustainable development goals and the global energy transition. However, the wide-scale use of biogas is seriously constrained by the presence of harmful impurities as well as the low calorific value of biogas. The overall objective of this chapter is to investigate the properties of biogas, its cleaning, upgrading, and its sustainability as a transition energy resource for realization of sustainable development goals and the global energy transition. The chapter provides a comprehensive examination of the potential of biogas as a fuel and potential feedstock for various industrial processes. Furthermore, this study offers a comprehensive examination of the various technological alternatives that can be employed to harness biogas for the purpose of generating heat and electricity.

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The levelized cost of energy and modifications for use in electricity generation planning

Cited by 39 publications

References 35 publications

Deep-Reinforcement-Learning-Based Vehicle-to-Grid Operation Strategies for Managing Solar Power Generation Forecast Errors

Deep-Reinforcement-Learning-Based Vehicle-to-Grid Operation Strategies for Managing Solar Power Generation Forecast Errors

Toward a Renewable and Sustainable Energy Pattern in Non-Interconnected Rural Monasteries: A Case Study for the Xenofontos Monastery, Mount Athos

Biogas as a Sustainable Fuel and Feedstock: Properties, Purification, and Applications

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