Abstract
DC distribution networks are operationally economical from the perspective of renewable energy penetration due to the reduction of power loss from the simplified power conversion structure. However, the initial investment cost of a DC network is high because DC technology is in the early stage of development. So, selecting AC or DC technology becomes an important issue in the planning stage of a distribution network, where a comprehensive quantitative economic comparison between AC and DC distribution networks is necessary. To compare the economy between AC and DC distribution networks with high penetration of a renewable energy scenario, this paper introduces a comprehensive economic evaluation method. In this study, first, typical system models for AC and DC distribution networks were proposed as the foundation of the research. Then, a levelized cost of energy (LCOE)-indicator-based comprehensive economic evaluation model was established, where the operation cost was classified into power loss cost, reliability loss cost, and operational cost. A time sequential simulation model was applied to calculate the power loss. The simulation results showed that a DC distribution network has higher initial investment, operation, and maintenance costs than an AC distribution network, but the loss cost is far lower than an AC distribution network. A sensitivity analysis showed that the equipment cost and proportion of renewable energy are two of the most important factors that affect the economics of DC distribution networks at present.
Highlights
Due to its advantages of high power supply capacity, large power supply radius, and controllable power flow [1,2], the DC distribution network has gradually attracted the attention of scholars in the industry
A levelized cost of energy (LCOE)-indicator-based comprehensive economic evaluation model was established, where the operation cost was classified into power loss cost, reliability loss cost, and operational cost
The simulation results showed that a DC distribution network has higher initial investment, operation, and maintenance costs than an AC distribution network, but the loss cost is far lower than an AC distribution network
Summary
Due to its advantages of high power supply capacity, large power supply radius, and controllable power flow [1,2], the DC distribution network has gradually attracted the attention of scholars in the industry. A DC power distribution network has greater power supply capacity [4], which reduces the investment cost of corridors compared with AC power distribution networks It is of great significance for the development of DC distribution networks and related scenario planning to establish a comprehensive economic evaluation model of AC and DC distribution networks by integrating investment costs, corridor costs, equipment life, energy efficiency, reliability, and so forth [5]. In light of the lack of comprehensive and objective indicators and methods for comparing and evaluating the economic performance of AC and DC distribution networks, and considering multiple scenarios such as distributed renewable energy and DC load integration, we have developed indicators and calculation models for evaluating the economic performance of AC and DC distribution networks in four dimensions: investment costs (with corridor costs), loss costs, reliability costs, and operation and maintenance costs. Comprehensive economic and sensitivity analyses of key factors were separately carried out, and a conclusion based on the comparison between AC and DC distribution networks was drawn
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