Techno-Economic Feasibility Study of Multi-Energy-Based Hybrid Power System at an Industrial City

Optimization Techniques for Hybrid Power Systems

Introduction

The increasing demand for reliable and sustainable energy solutions has prompted the exploration and development of advanced multi-energy-based hybrid systems. These systems integrate multiple renewable energy sources, energy storage, and conventional generators to optimize energy production and consumption (as illustrated in Fig. 1).

Figure 1.

Schematic of energy sustainability pyramids

By combining different sources and technologies, they offer improved efficiency, cost-effectiveness and environmental sustainability. According to the REN21 Renewables 2022 Global Status Report, India ranks fourth globally for installed renewable energy capacity (including large hydro), fourth for wind power capacity, and fourth for solar power capacity. At the COP26, the nation increased its goal to 500 GW of non-fossil fuel-based energy by 2030. As of July 2023, India's installed non-fossil fuel capacity, which includes large hydro and nuclear - stands at more than 179.322 GW, or 43% of the nation's total capacity, up 396% in the last 8.5 years. (Source: https://www.investindia.gov.in/sector/renewable-energy) Additionally, there has been a noticeable shift toward renewable energy as a result of the ongoing depletion of fossil fuels, rising electrical power consumption as a result of the world population's rapid expansion, and climate change as a result of global warming. Increasing the installed capacity of renewable energy is the only practical way to address the aforementioned global concerns and achieve zero CO2 emissions in energy supply by 2040. In 2023, Yu & Shahabi suggested a strategy for concurrently optimizing many forms of energy infrastructure under a variety of uncertain conditions, all the while taking grid limits into account. A coordinated two-stage programming solution was also proposed to solve the multi-energy synergy supply optimization problem in the micro energy grid. Here, to mitigate the impact of wind and solar power unpredictability, the scheduling cycle separated the day-ahead and real-time phases. Three variable energy sources were examined in (Banerjee et al., 2023) such as - solar energy, wind energy and electric car as a vehicle to grid energy source. This model of optimal power flow included all three of these energy sources. Using comprehensive simulation techniques, the performance is assessed for six distinct power-related simulation cases taking into account IEEE 30 and 118-bus test grid systems.