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.
Highlights
Canada has one of the widest territories in the world, it has a dense population in the south but very scarce in the north
Results of financial, risk and environmental analysis obtained from WDCAS, HOMER and RETScreen software are compared for a given wind-diesel hybrid system
A computer model for financial, environmental and risk analysis has been developed for a wind–diesel hybrid system with compressed air storage
Summary
Canada has one of the widest territories in the world, it has a dense population in the south but very scarce in the north. Northern regions count with many remote areas and isolated villages unconnected to the national grid. Diesel gensets are used as main source of electricity. The main drawbacks of this solution include: the cost to generate a kilowatt-hour of electricity versus the associated fuel procurement cost [1,2,3], the environmental impact of using fossil fuels [4]. Versus the system efficiency [5]. One way to tackle these issues is the use of renewable energy systems. The provinces of Quebec and Newfoundland and Labrador are filled with abundant wind resources
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
