Intensification Strategy For Cost-Effective Hybrid Power System Using Power Pinch Analysis

Issues related to conventional energy production such as environmental
pollution, high cost of fossil fuels and increase in global energy demand have shifted
the global attention towards renewable energy( RE). Hybrid Power System (HPS)
consisting of a combination of RE resources can overcome the issues related to energy,
as RE sources are clean, infinite, and cost-effective in a long term. Implementation of
RE in HPS however is a challenging task. RE technologies have high capital cost for
the set up, and energy production from RE is unpredictable due to their stochastic
nature. It is therefore important to optimize HPS so that a cost effective design can be
achieved. The objective of this paper is to design HPS based on Power Pinch Analysis
(PoPA) and Systematic Hierarchical Approach for Resilient Process Screening
(SHARPS) intensification strategy. PoPA technique which is Modified Storage
Cascade Table (SCT) was used to find the minimum electricity target. Then, the
electricity target was used in SHARPS to obtain the cost effective HPS. Based on
PoPA and SHARPS technique, a cost-effective HPS result was obtained with a desired
payback period of ten years.