Abstract
As the global diesel generator market grows and generators gain wider use, various methods are being developed to increase their energy efficiency. One of these methods entails integrating a Li-ion battery with diesel generators (DGs). This method did not attract attention until recently because it was economically unappealing. A significant decrease in the price of Li-ion batteries in recent years has made hybrid diesel generator/Li-ion battery systems more viable. We present a model-based economic analysis of a hybrid DG/Li-ion battery system with the aim of increasing the energy efficiency of diesel power generators. Special blocks were developed for calculations and comparisons with a MATLAB Simulink model, including 457 kW DG operating modes with/without a Li-ion battery. We simulated the system in order to calculate the conditions required to achieve savings in fuel and the level of savings, in addition to the payback time of the Li-ion battery. Furthermore, we present the additional savings gained by postponing the investment in a new diesel generator thanks to the Li-ion battery. Based on our findings, the payback period of the Li-ion battery system varies between 2.5 and 4 years. According to our 12-year economic analysis, the cost savings resulting from postponing new investments can reach 40% of the profit gained from the savings during such a period.
Highlights
IntroductionPublisher’s Note: MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affiliations
We highlight the advantage of compatibility between the working lives of diesel generators (DGs) and Li-ion batteries; We prove that the significant decline in Li-ion battery prices to USD 130 in 2021 makes hybrid DG/Li-ion battery systems economically attractive; We share the details of the model developed in the MATLAB Simulink environment, as well as the calculation/comparison blocks we designed for economic analysis
This study presented a model-based economic analysis of hybrid DG/Li-ion battery systems
Summary
Publisher’s Note: MDPI stays neutral with regard to jurisdictional claims in published maps and institutional affiliations. This article explores a diesel generator (DG) hybrid operation method involving a. This hybrid operation method is recognized as a technique for increasing fuel consumption efficiency in diesel generators, it is not yet considered practical. The aim of this article is to prove that hybrid DG/Li-ion battery systems are viable due to the significant decrease in Li-ion battery prices and to search for conditions under which these savings are achievable. In addition to the profit from fuel savings, we investigate the extra savings in cost resulting from reduced DG operating time, as well as the savings from delayed capital investment
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