Feasibility study and economic analysis of stand-alone hybrid energy system for southern Ghana

Abstract

Ghana is endowed with lot of potentials in the renewable energy sector which are yet to be fully exploited. This research evaluated the techno-economic potentials of PV-Wind-DG-Battery and Wind-DG- Battery hybrid power plants in the southern part of Ghana in a town call Mankwadze to ascertain the bankability of the two systems for large-scale commercial electricity generation. The levelized cost of energy (LCOE) and net present cost (NPC) metrics were used in the economic analysis of the modelled power plants. The LCOE and NPC of the two systems were estimated at 0.382 $/kWh and $8,649,054 for the PV-Wind-DG-Battery system, respectively, whiles the Wind-DG-Battery system also recorded 0.396 $/kWh and $8,966,700 for the LCOE and NPC, respectively. The base case (generator) recorded an LCOE of 0.412 $/kWh and an OC of $345,998 with an initial cost of $454,256. The obtained results are all relatively higher than the current cost of energy for household consumers in Ghana, but a sensitivity analysis showed that the LCOEs can be reduced when certain parameters such as cost of fuel, discount and inflation rates are varied. This suggests that such projects can be done when the necessary investment climate is created by those in authority.