Cost-optimal Pinch Analysis for sizing of hybrid power systems

Abstract

Adverse effects of conventional fossil fuel based power generation create an urge for clean technologies. Technologies related to the advancement of renewable energy and clean technologies are growing very fast. Development in renewable energy technologies, reliability and environmental restrictions generates the requirement of a Hybrid Power System (HPS). Cost is an essential factor which plays important role while planning any system. This factor can be included in planning an HPS via Pinch Analysis through the concept of prioritization. This concept is a well-established technique in Process Integration for designing cost-optimal resource conservation networks for various resources such as thermal utilities, water and carbon. However, its application towards the cost-optimal planning of an HPS is still to be explored. In this paper, a methodology is developed to set cost optimal targets in HPS. The proposed methodology extends the concept of prioritization towards planning of cost-optimal HPS. The capital cost of power generation depends on the type of power resource. The proposed method incorporates entry and exit on the time horizon of each power resource. The methodology presented in this paper calculates the power rating of power resources in an HPS required for satisfying the power demands with an objective to minimize the overall cost of electricity. The methodology is illustrated via two examples where 7.75% and 8.8% cost reduction potential are estimated.