Economic and environmental benefits of increasing the renewable energy sources in the power system

Abstract

Increasing Renewable Energy Sources (RES), impact the power system. Moreover, the system equilibrium and stability are difficult because constant generation cannot be generated from RES concerning conventional energy sources. This paper studies the effect of RES on the power system through the actual application of the Egyptian power system. The strategy of the Egyptian power system aims at increasing the proportion of RES, especially, Wind Power (WP) and photovoltaic (PV). Therefore, Different operation scenarios are presented to illustrate the impact of RES on the Egyptian network. Also, the economic and environmental benefits of increasing the Penetration of Renewable Power Generation are presented by calculating the expected annual reductions of CO2 emission (ER), certified emission reduction (CER) and the fuel-saving amount. Therefore, how to decrease the cost of electricity (DCOE) model when calculating the cost-benefit analyses from RES. The results show the economic benefits of the point of view of the amount of savings achieved when bringing renewable energy to each scenario. Finally, the economic study shows the benefits renewable energy sources have provided, where the RES by the end of 2022 will reduce the emission of carbon dioxide to 46405×103 tCO2 which yield a return of 433427.6×103 $ according to CER price and the savings of the fuel will reach 19066 ktoe. The model was created using DIgSILENT power factory software.