Abstract
The steep decline in the price of wind and solar photovoltaics provides a possibility to decarbonize electricity deeply and affordably. This study uses the HOMER Pro energy modeling tool to model an optimized grid-connected renewable energy system for a community in southern Alberta, Canada. The study’s goal is to identify the best renewable energy technology combinations that can provide electricity at the lowest levelized cost of energy (LCOE) and has lower greenhouse gas emissions as compared to the electricity produced by traditional fossil fuel. Gleichen is a small town in southern Alberta that is close to numerous commercial wind and solar projects given the region’s high quality renewable resources. “Tri-brid” systems consisting of wind turbines, solar photovoltaics, and battery energy storage systems (BESS) are considered and compared based on electricity prices, net present cost, and greenhouse gas emissions savings. This tri-brid system is connected to the grid to sell excess generated electricity or buy electricity when there is less or no availability of solar and wind energy. The tri-brid energy system has an estimated LCOE of 0.0705 CAD/kWh, which is competitive with the price of electricity generated by natural gas and coal, which is 0.127 CAD/kWh.
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