Simple Payback Period Research Articles

3E analyses of a cogeneration system based on compressed air energy storage system, solar collector and organic Rankine cycle

Compressed air energy storage associated with renewable energy sources is a reliable method to solve energy shortage and achieve emission reduction. A novel cogeneration system which combines a compressed air storage system, an organic Rankine cycle system and a solar collector system is proposed. Parametric sensitivity analysis, exergy analysis, and economic analysis are performed. The results demonstrate that the proposed hybrid system with the air mass flow of 5400 kg/h has an output power of 389.19 kW and an output heat of 985.18 kW. The power efficiency, energy efficiency and exergy efficiency of the system are 24.63%, 86.96% and 67.57%, respectively. The total exergy destruction of the proposed system is 649.26 kW. The highest energy destruction, 199.43 kW, is provided by the solar collection system. The cost of total investments of the overall system is 6471.35 k$. The solar collector system and the turbine have the highest percentage of investment costs with 30.72% and 27.87% respectively. The economic analysis revealed that the simple and dynamic payback periods of the proposed hybrid system are 17.68 years and 11.56 years, respectively.

Thermoeconomic Optimization of a Polygeneration System Based on a Solar-Assisted Desiccant Cooling

This paper presents a thermoeconomic analysis of a polygeneration system based on solar-assisted desiccant cooling. The overall plant layout supplies electricity, space heating and cooling, domestic hot water, and freshwater for a residential building. The system combines photovoltaic/thermal collectors, photovoltaic panels, and a biomass boiler coupled with reverse osmosis and desiccant air conditioning. The plant was modeled in TRNSYS and simulated for 1 year. A parametric study defined the system’s setup. A thermoeconomic optimization determined the set of parameters that minimize the simple payback period. The optimal structure showed a total energy efficiency of 0.49 for the solar collectors and 0.16 for the solar panels. The coefficient of performance of the desiccant air conditioning was 0.37. Finally, a sensitivity analysis analyzed the influence of purchase electricity and natural gas costs and the electricity sell-back price on the system. The optimum simple payback was 20.68 years; however, the increase in the energy cost can reduce it by up to 85%.

A comparison of char fuel properties derived from dry and wet torrefaction of oil palm leaf and its techno-economic feasibility

In this study, the chars were derived through dry and wet torrefaction (DT and WT) of oil palm leaf (OPL), and techno-economic feasibility for char production was evaluated. DT was performed at 200 to 300 °C for 30 min under CO2 atmosphere. WT was performed at 180 to 220 °C for 30 min over process water (PW) reuse. Fuel properties of the DT-char and WT-char products, including mass yield, physiochemical characteristics, fuel properties, thermal stability, surface chemical functional groups, and surface structure were investigated. The study results indicated that DT affected OPL characteristics rather than WT, where the char with outstanding fuel properties was derived through DT. WT affected the fuel properties of OPL marginally. OPL chars with the highest HHV (28.67 MJ/kg), HHV improvement (0.48) and energy yield (131.78 %) could be derived via the DT. The O/C and H/C ratios of the DT-char were reduced and similar to those of lignite coal. PW reuse in WT slightly affected the char fuel properties, thus it is the outstanding method of PW utilization. Techno-economic feasibility analysis results determined that DT is the profitable process for converting OPL to char fuel, and its simple payback period is 14.13 years. These results recommended that DT constitutes a dominant technology for producing char fuel from OPL.

Energy Utilization and Saving Opportunities in Process Industries: Case Study of Textile Manufacturing Industry in Kenya

The industrial sector is seriously threatened by high energy costs brought on by inefficient energy use. Energy, together with labor and raw materials, make up the majority of production costs in the textile industry. As a result, the only real way for the textile industry to turn a profit and maintain its competitiveness is to reduce its energy costs through energy conservation measures and energy management strategies. The main objective of the study was to investigate energy utilization in textile manufacturing plant and identify energy saving and conservation measures that help reduce energy costs. In the current work, energy investigation was carried out to determine performance of high energy consuming utility systems and equipment such as compressed air systems, boilers, motors, lighting systems and steam distribution systems. Boiler flue gas analysis test, air compressor air leak test, heat loss analysis for steam distribution system, motor load assessment and load variation trends in air compressor were done. Energy utilization analysis showed that high electricity consumption occurs in spinning (48%), followed by weaving (26%) and wet processing (22%). Statistical analysis of energy consumption in spinning, weaving and wet processing showed linear relationship between production and energy consumption with correlation coefficients (R2) of 0.782, 0.708 and 0.637 respectively which reveals that there continues to be a large potential of energy efficiency across all the major textile manufacturing processes in the plant. The study found potential savings in electric energy to be approximately 367,784 kWh/year, wood fuel savings 1,219 tones/year and furnace oil savings to be 22,275 L/year. The results displayed 31.6% overall energy cost saving potential with an average simple payback period of 0.5 years on the investigated high energy consuming utility systems and equipment. In conclusion, significant energy savings in the sector might be attained by implementing free or inexpensive investments including sealing air and steam leaks, insulating bare pipes, and properly drying wood fuel.

Numerical simulation of stand-alone photovoltaic integrated with earth to air heat exchanger for space heating/cooling of a residential building

Earth-to-air heat exchanger is one of the efficient energy-saving approaches to meet the heating/cooling requirement of residential buildings/greenhouses. In this work, a comprehensive numerical and statistical approach using the response surface method aiming at the integration of stand-alone photovoltaics with earth-to-air heat exchangers is discussed for the coordinates of Delhi. For parametric optimization of the earth-to-air heat exchanger, statistical tool, and response surface methodology is used by taking ground temperature profile and weather data into account. Among the primary parameters, the diameter of the pipe is found to be the most significant parameter. Optimized pipe diameter of 0.2 m, pipe length of 70 m, and air velocity of 7 m/s have yielded a total energy gain of 8116.7 kWh/year. Evaluation of herein designed hybrid system has estimated CO2 mitigation of 16.18 tons/year which in turn has evinced the carbon credit value to US$ 336.86/year. Calculations exhibit a simple payback period of approx. 5 and 10 years for one day and 2 days autonomy respectively when compared with the electricity cost of diesel generators for rural areas. With 24 h grid availability, the simple payback period with a photovoltaic system gets reduced to 4–5 years in urban areas as it doesn't require any battery bank. This kind of self-sufficient hybrid system is an eco-friendly and sustainable energy solution for altogether rural and urban areas. This work provides an effective blueprint of commercially viable photovoltaic integrated with earth-to-air heat exchanger systems for households.

Performance evaluation and financial viability analysis of grid associated 10 MWP solar photovoltaic power plant at UP India

The main aim of this simulation work is to assess the financial possibility analysis of 10 MWP grid-associated solar photovoltaic (PV) power plants in seven cities i.e. Lucknow, Agra, Meerut, Gorakhpur, Kanpur, Allahabad, and Varanasi of Uttar Pradesh (UP) state of India with the RETScreen Software. The presented research work demonstrates the method of selection of profitable locations for solar PV power plants according to financial viability indicators. It is found that Allahabad city is the most profitable site with values of 16,686 MWh of electricity exported to the grid (EEG), US$20,896.30/year of electricity export revenue (EER), 9.4 years of simple payback period (SPP), 7.7 years of equity payback period (EPP), 19545.9 tCO2/year of GHG emission reduction, US$3492.82/year of the annual life cycle savings (ALCS), 1.5 benefit-cost (B-C) ratio, US$27394.59 of net present value (NPV), 16.5% internal rate of return on equity (IRR-equity), 12.3% modified internal rate of return on equity (MIRR-equity), 5.4% internal rate of return on assets (IRR-assets), and 7% modified internal rate of return on assets (MIRR-assets). The second most profitable site is found in Gorakhpur city and Varanasi city is found the least profitable site. The other two cities, Agra and Kanpur are not found suitable because of the negative values of NPV and ALCS.

Proposal and thermo-economic analysis of a novel multi-generation system producing heating, power and clean water under energetically self-sufficient operation

ABSTRACT In this work, by using the energy released during the supercritical water oxidation process (SCWO) as the heat source, a cogeneration system producing heating, power and clean water is proposed. The system is modeled, and the performances under energetically self-sufficient operation are simulated. For the proposed system, parametric sensitivity analysis is first performed. Then the system is evaluated from exergy and economic aspects. The results show that under the given working condition, the proposed system can produce 1832.2 kW of heat and 245.2 kW of power simultaneously. The proposed system is a “heat dominant” system, for a larger part of the energy is utilized as heat, with the thermal efficiency reaching 85.9%. The exergy efficiency of the system reaches 40.1%. The total investment cost is 9053.0 k$. The equipment cost of turbines is 5703.5 k$, which accounts for 60% of the total investment cost. The electricity revenue of the system is 252.21 k$. The heat revenue is 867.94 k$. The clean water revenue is 31.73 k$. The obtained net annual income is 1124.78 k$. The dynamic payback period (DPP) is 12.31 years. While the simple payback period (SPP) is 9.03 years. This study may contribute to provide data support and theoretical basis for using the energy contained in organic wastewater.

Small-Scale Hybrid Methanol–Methane Production Based on Biogas: Stochastic Sensitivity Analysis of the Economic Sustainability

This study investigates the economic viability at the pre-feasibility level of a hybrid methanol and biomethane plant based on biogas coupled to a photovoltaic (PV) power plant and a proton exchange membrane (PEM) electrolyzer. The reference case settled in Uganda consisted of two units powered by a 200 kW PV plant and grid power: a 25 Nm3/h anaerobic digester and a 140 kW PEM electrolyzer-based methanol plant. Its production of 33.3 tons of methanol and 70.1 tons of biomethane per year can provide cooking fuel for 750 households. Response Surface Methodology was used to evaluate the impact of the three main factors on the simple payback period (PBP). The size of the PV plant had the most significant impact on PBP, followed by the cost of electricity, the interaction between these factors, and the PEM electrolyzer capital cost reduction, in this contribution order. These findings point to energy generation costs as the primary factor affecting the economic viability of these small-scale designs, even more than the PEM’s capital cost. The response surface analysis revealed that only in a reduced region of the design space are values found that meet the threshold of 10 years for plant economic viability.

Techno-Economic Analysis of Hybrid Renewable Energy-Based Electricity Supply to Gwadar, Pakistan

Gwadar is essential to Pakistan’s financial stability. Being the third deep-water port in Pakistan, it plays a significant role in trade between the Gulf States, Africa, UAE, and CARs. The load shedding of 12–16 h in Gwadar is the most concerning issue due to the non-availability of a utility grid, which is why the Pakistan imports 70 MW of electricity from Iran to fulfill Gwadar’s electricity needs. Gwadar has renewable energy resources that can be utilized for electricity generation. However, wind and solar systems were only installed for limited residential areas. Considering this scenario, a technological and economic analysis was performed using the Hybrid Optimization Model for Multiple Energy Resources (HOMER) software. Three models were considered in this study. Model 1 consisted of photovoltaic (PV) cells, wind turbines, converters, and batteries. Model 2 consisted of PV cells, wind turbines, converters, and a grid. Model 3 consisted of PV cells, wind turbines, converters, and diesel generators. The annual energy generated by Model 1, Model 2, and Model 3 was respectively 57.37 GWh, 81.5 GWh, and 30.4 GWh. The Levelized Cost of Electricity (LCOE) for Model 1, Model 2, and Model 3 was respectively USD 0.401/kWh, USD 0.0347/kWh, and USD 0.184/kWh. The simple payback period of Model 1 was 6.70 years, the simple payback period of Model 2 was 7.77 years and the simple payback period of Model 3 was 4.98 years. Because Model 3 had the lowest Net Present Cost NPC, its payback period was also less than those of the other two. However, Model 2 had the lowest LCOE and its renewable fraction was 73.3%. These facts indicate that Model 2 is the optimal solution.

Comprehensive sustainability assessment of a novel solar-driven PEMEC-SOFC-based combined cooling, heating, power, and storage (CCHPS) system based on life cycle method

Combined cooling, heating, and power systems powered by renewable energy could efficiently reduce the dependency on fossil fuels and decrease greenhouse gas emissions. This study presents a novel solar-driven proton exchange membrane electrolysis cell and solid-oxide fuel cell-based combined cooling, heating, power, and storage (CCHPS) system integrated with the parabolic trough photovoltaic-thermal (PTPVT) collector. The efficient PTPVT collector is employed to effectively generate solar electricity and thermal energy concurrently. A robust energy management strategy for optimal utilization of solar energy is proposed to smooth the solar energy fluctuations and proactively respond to the user's dynamic load demands. With the entropy weight method, a comprehensive sustainability quantitative analysis based on the life cycle method, which encompasses eleven indicators covering energy, environmental, and economic multi-attributes, is conducted to evaluate the sustainability performance of the proposed system. Meanwhile, the operating characteristics of proactively responding to the user's dynamic load demands under different operating modes and the effects of key parameters are also investigated. The results demonstrate that when the receiver side length of the PTPVT varies from 0.04 m to 0.08 m, the electric efficiency of the PTPVT declines from 24.19% to 22.93%, and the grid electricity consumption of the hybrid system increases by 16.62 MWh per year. Besides, the annual investment cost, annual net saving cost, and simple payback period are demoted by 709.52 $, 1233.01 $ and 0.09 year, respectively. The composite sustainability index of the hybrid system with a 0.04 m receiver side length of the PTPVT illustrates optimal comprehensive sustainability performance with 0.998.

Techno-economic analysis of a novel solar-driven PEMEC-SOFC-based multi-generation system coupled parabolic trough photovoltaic thermal collector and thermal energy storage

The present study proposes a novel multi-generation system with a solar-driven proton exchange membrane electrolysis cell, and a solid-oxide fuel cell coupled with a parabolic trough photovoltaic thermal collector and thermal energy storage. Surplus solar electricity is stored as high-pressure green hydrogen, and then a hydrogen-fueled solid-oxide fuel cell is employed to meet the electricity demand at night. The solar heat and other waste heat are stored in a thermal energy storage unit and then utilized to produce cooling/heating and domestic hot water. Multicriteria analyses of thermodynamic and economic performances are conducted to evaluate the techno-economic feasibility of the system, and the characteristics under variable operating conditions are also investigated. The results illustrate that the energy efficiency and exergy efficiency of the parabolic trough photovoltaic thermal collector may reach 80.7 % and 33.8 %, respectively, and the solar electricity of the parabolic trough photovoltaic thermal collector is continuously supplied to the user for 14 h and 9 h under typical cooling mode and heating mode, respectively. The net present value, simple payback period, and dynamic payback period reach 45.78 M$, 9.11 years, and 11.55 years, respectively. The internal rate of return of 9.96 % is higher than the interest rate by 4.96 percentage points, and the levelized cost of the product of the proposed hybrid system of 0.0540 $/kWh shows the excellent economic superiority.

Energy, economic and environmental analysis of an evacuated tube solar collector using hybrid nanofluid

Hybrid nanofluids are novel advanced fluids that improve sustainable energy production. In the current study, the performance of the evacuated tube solar collector is experimentally investigated using hybrid nanofluids of magnesium oxide and multi-walled carbon nanotubes with water base. The experiments are carried out at various weight ratios and at three flow rates ranging from 1 to 3 L/min. The results show an improvement in the optical efficiency of the collector by up to 78.1% with the increase in the weight ratio of multi-walled carbon nanotubes nanoparticles. The average heat energy gain has increased from 240 W to 495 W. The utilization of the hybrid nanofluid shows an enhancement in the inlet–outlet temperature difference of the fluid by 56% and a reduction in the area of the collector by 36%. Economic and environmental analyses are conducted to investigate the role of magnesium oxide/multi-walled carbon nanotubes hybrid nanofluid in energy savings and CO2 emission reduction. The period for Carbon Payback Time and Simple Payback Period declines by 36.2% and 34.6%, respectively, for magnesium oxide/multi-walled carbon nanotubes (50:50) hybrid nanofluid. The Energy Yield Factor reaches 27.09 throughout the lifetime of the collector. According to the findings, magnesium oxide/multi-walled carbon nanotubes hybrid nanofluid is a viable working fluid alternative to multi-walled carbon nanotubes nanofluid that provides enhanced properties and a more economical raw material cost.

Optimum insulation thickness design of exterior walls and overhauling cost to enhance the energy efficiency of Albanian's buildings stock

In the present climate, thermal insulation is crucial for reducing energy consumption for heating or cooling in buildings, increasing the lifespan of structures, and building elements, and improving human comfort. The wall's composition layer has advanced regularly since the building regulations and established norms. However, calculation methods have remained quite the same, governed by Fourier's law. Therefore, to address this gap, a linearization process, and a correction factor of the optimized insulation thickness for four different insulation materials (i.e., EPS Graphite, EPS, GW, and RW) and five energy carriers (i.e., electricity, diesel, natural gas, liquefied petroleum gas, and biomass) by removing the boundaries of heating degree days by using Mathcad software is proposed. Other financial parameters (i.e., inflation rate, interest rate, lifespan, and present worth factor) and heating system features that lead to the optimized insulation thickness are considered. The RETScreen Expert model was coupled with a Mathcad script to compute a standardized corrected optimized insulation thickness (COIT) value by applying sensitivity analyses at ±35% of the most influencing parameters to calculate the total overhauling cost for different building types in Albania. A correction of the existing window's heat transfer coefficient for a different glass-to-wall ratio is proposed. Our findings suggest that the overall heat transfer value (U) should be equal to or less than 0.30 (W/m2•K), leading to a range of corrected optimized insulation thickness (COIT) from 0.03 m up to 0.11 m. Moreover, results exhibited encouraging economic and environmental values concerning the unrenovated buildings leading to annual net savings of 23.50–84.50 €/m2, CO2 reduction up to 39.10 kgCO2/m2, and a simple payback period (SPP) of 0.30 maximum up to 1.20 years. The outputs of this study can bring benefits in terms of reduced energy consumption and CO2 footprint, and the proposed COIT value can be applied not only in Albania but in other regions that exhibit similar climate conditions.

BINARY ELECTRICAL GENERATING INSTALLATION FOR UTILIZATION HEAT OF BOILER FLUE GASES

The work is devoted to the development of modern thermal schemes for the production of electrical energy while utilizing the heat of flue gases from boilers of power units. On the example of a typical district boiler house, the parameters and potential of heat discharged into the atmosphere with the flue gases of boilers are investigated, and it is determined that they are sufficient to generate electrical energy by implementing the so-called organic Rankine cycles. To utilize the heat of exhaust gases with a temperature of 280 °С at a flow rate of 10 kg/s, a three-loop power generating plant similar to those used in geothermal energy was studied. In the process of conducting research related to solving the problem, the thermal scheme was improved. A number of turbine working bodies that meet the necessary requirements are analyzed and the most suitable ones are recommended. Taking into account the characteristics of the heat source, in order to determine the rational configuration of the circuit, 50 calculations of thermal circuits of power plants on different working fluids were performed. The research results showed that the efficiency (electrical efficiency) and power of the turbine cycle are determined by the waste heat potential, the thermodynamic properties of the working fluid, the structural and parametric characteristics of the circuit. Among the studied indicators, the best indicators are: electrical efficiency of 20,6 %, a "useful" electrical power of 357 kW at a flue gas temperature of 131 °C was a three-circuit utilization plant with working bodies Water / R-245fa / R-245fa. The variant of the circuit with working fluids Water / R-600a / R-600a lost ~ 8 kW of electric power to the best variant, but was recognized as more promising, since R-600a (isopropane) Freon has consumer advantages over R-245fa. Computational studies of the binary thermal scheme of the power plant were also carried out, which showed that it is rational to use Water for the 1st circuit, R-600a for the 2nd circuit. This solution made it possible to obtain the calculated "useful" electric power of the energy complex ~ 290,8 kW (1st circuit ~ 129 kW, 2nd circuit ~ 161,8 kW). The loss of the binary scheme in terms of "useful" electric power to the promising version of the three-loop scheme is compensated by a significant simplification of the thermal scheme and, as a result, significantly lower capital costs. The specific mass of the proposed heat exchange equipment of the installation with a binary thermal scheme is ~ 150 kg/kW. Taking into account the properties of the working fluids, a preliminary study of the structures of the turbines of the 1st (Water) and 2nd (R-600a) circuits was carried out. For the 1st circuit, it is proposed to use a 6-stage axial turbine, for the 2nd – a single-stage radial. The geometric characteristics of the flow parts of turbines are determined by calculation. A preliminary simplified assessment of a simple payback period indicates good prospects for the implementation of the proposed energy-saving installation.

Real-time data-based performance analysis of a large-scale building applied PV system

Solar photovoltaic (PV) is one of the fastest-growing renewable technologies. Building applied photovoltaic systems can significantly help reduce the energy and environmental loads of buildings. This study analyzes the performance of a 425 kW building applied photovoltaic system by investigating important technical, economic, and environmental parameters. These analyses have been carried out with the help of year-long real-time performance data. The technical performance indicators examined in this study include direct current and alternating current power output, array yield, specific (final) yield, references yield, array losses, module and overall PV conversion efficiency, capacity factor, and performance ratio. The main strengths of the study include the large size of the BAPV system, and a comprehensive techno-economic and environmental analysis based upon real-time monitored data. The PV system has been found to annually produce 835.60 MWh and 814.88 MWh of DC and AC power output, respectively. The performance ratio varies from 74.03% in August to 84.62% in January with an annual figure of 78.09%. The annual capacity factor is determined to be 21.85%. For a project life of 25 years, the simple payback period and Net Present Value have been calculated to be 6.92 years and USD 866,565.24, respectively. Over the project lifetime, the savings of CO2, CH4 and N2O are calculated to be 15,666 tons, 483.75 kg, and 83.25 kg respectively.

Plant design of biodiesel production from waste cooking oil in Malaysia

In this study, a techno-economic, risk and safety assessment of biodiesel generation from waste cooking oil through alkali-catalyzed transesterification process had been conducted. The optimized results indicated that 1026 kg h−1 of biodiesel was produced from 1050 kg h−1 of waste cooking oil. Glycerol, the by-product was utilized to produce nitro-glycerine. The total capital expenses were expected to be US$9.62 million, while the total operating expenses were $11.16 million. The plant was economically viable with the simple pay-back period of 6.64 years. Furthermore, a detailed risk assessment and HAZOP were performed.

Exergoeconomic and environmental performance assessment of the solar-assisted thermal power plant

At a time when global climate change is imposing a mounting challenge to the economy of the world, conventional coal-fired steam power plants are under tremendous pressure to meet severe climatic protocols for achieving the set sustainable development goals. Therefore, this research work investigates the energetic, exergetic, economical and environmental performance of a 330 MWe sub-critical coal-fired thermal power plant integrated with solar thermal energy. The results of energetic and exergetic analyses show that the highest energy efficiency of 38.04% and the highest exergy efficiency of 36.22% are attained for Option 3. The environmental analysis performed using the fuel-saving approach shows that the maximum reduction in coal consumption and CO2 emissions also corresponds to Option 3. The economic analysis showed that for all three replacement options, the levelised cost of electricity is 4.52, 4.47, and 4.63 (Cents/kWh) and the simple payback period is 3.4, 3.3 and 3.6 (years), respectively.

Pathway to investigate and assess the performance of solar ON-Grid plant

This study investigates the long-term performance of a 52-kW on-grid solar PV plant in the Mechanical ‘C’ block, SRM Institute of Science and Technology (SRMIST). This article delivers a simple approach that would act as a pivot for PV system assessment. Therefore, methodologies like Energy yield analysis, Energy distribution, and Life cycle costing are implemented. This empowers the methods to facilitate pre-auditing, energy conservation, and economic analysis. The performance ratio and a capacity factor of the 52-kW PV plant in 2020 are determined as 60% and 12.8%, respectively. The study offers that the plant has a less simple payback period and energy pack time for 2020. From this study, the issues identified in the plant are highlighted with the solution. It also paves the way for the researchers to suggest the solutions for the underutilisation of the plant, especially in the situations like fault occurrence, pandemic conditions, etc.

Hydrogen Production through Alkaline Electrolyzers: A Techno‐Economic and Enviro‐Economic Analysis

AbstractHydrogen production through an alkaline electrolyzer as well as a techno‐economic and enviro‐economic analysis are presented. The proposal of this innovative study is to generate hydrogen gas energy from an alkaline electrolyzer energy system. The prototype of this alkaline electrolyzer was developed by application of hydrogen production through alkaline electrolyzer optimization. This novel chemical mixture is made up from the combination of ammonia, ethyl alcohol, urea, and deionized or distilled water. The result proved to be a model study by emphasizing the annual profit of the alkaline electrolyzer of a simple payback period of the prototype system. A prototype of alkaline electrolyzer is designed and developed to produce oxyhydrogen gas through water electrolysis.

Energy-Economic Assessment of Islanded Microgrid with Wind Turbine, Photovoltaic Field, Wood Gasifier, Battery, and Hydrogen Energy Storage

Island energy systems are becoming an important part of energy transformation due to the growing needs for the penetration of renewable energy. Among the possible systems, a combination of different energy generation technologies is a viable option for local users, as long as energy storage is implemented. The presented paper describes an energy-economic assessment of an island system with a photovoltaic field, small wind turbine, wood chip gasifier, battery, and hydrogen circuit with electrolyzer and fuel cell. The system is designed to satisfy the electrical energy demand of a tourist facility in two European localizations. The operation of the system is developed and dynamically simulated in the Transient System Simulation (TRNSYS) environment, taking into account realistic user demand. The results show that in Gdansk, Poland, it is possible to satisfy 99% of user demand with renewable energy sources with excess energy equal to 31%, while in Agkistro, Greece, a similar result is possible with 43% of excess energy. Despite the high initial costs, it is possible to obtain Simple Pay Back periods of 12.5 and 22.5 years for Gdansk and Agkistro, respectively. This result points out that under a high share of renewables in the energy demand of the user, the profitability of the system is highly affected by the local cost of energy vectors. The achieved results show that the system is robust in providing energy to the users and that future development may lead to an operation based fully on renewables.