Techno-Economics Of Smart Energy Systems

Techno-economics of smart energy systems involves the comprehensive analysis and optimization of the technological components and economic aspects within the domain of intelligent energy infrastructure. This interdisciplinary field integrates advanced technologies like IoT sensors, AI-driven analytics, and renewable energy sources with economic principles to enhance efficiency, reliability, and sustainability in energy production, distribution, and consumption. It encompasses assessing the costs, benefits, and risks associated with deploying smart grids, energy storage solutions, demand response mechanisms, and other innovative technologies to create resilient and adaptive energy ecosystems. By evaluating the interplay between technology advancements, market dynamics, regulatory frameworks, and consumer behavior, techno-economics of smart energy systems aims to maximize energy utilization, minimize environmental impact, and foster economic viability in the transition towards a smarter and more sustainable energy future.

ABSTRACT

In recent days the energy consumption is increasing very fast because of the extensive progress of modern linear and nonlinear loads within the industrial, residential, and commercial areas globally. In the context of smart energy system (smart microgrid), the high penetration of renewable sources offers technical and economic benefits globally. Besides, the continuous growth of power consumption will affect the grid technical as well as economic performances. Due to said reason reduction in the quality of power, reliability, voltage stability and also increase in losses, harmonics and cost of energy are replicate in the grid. Therefore the effective control, analysis, and management of all these problems in the system are essential for reliable and accurate operation. In the proposed work, a case study of national grid connected system with photovoltaic and wind based hybrid renewable energy generation system is considered. Integration of renewable energy sources into the grid shows a considerable impact on distribution system performances, such as cost economy, losses, stability, reliability, pollutant emissions, and other technical social and economic parameters.

TABLE OF CONTENTS

COVER PAGE

TITLE PAGE

APPROVAL PAGE

DEDICATION

ACKNOWELDGEMENT

ABSTRACT

CHAPTER ONE

INTRODUCTION

1.1      BACKGROUND OF THE PROJECT

  • PROBLEM STATEMENT
  • AIM AND OBJECTIVE OF THE PROJECT
  • SCOPE OF THE PROJECT
  • SIGNIFICANCE OF THE PROJECT

CHAPTER TWO

LITERATURE REVIEW

  • OVERVIEW OF THE STUDY
  • POWER SYSTEM FLEXIBILITY
  • THE GROWING RENEWABLE PENETRATION EFFECTS ON POWER SYSTEM
  • EFFECT OF WIND POWER SYSTEMS (WPS) ON THE POWER SYSTEM STABILITY
  • EFFECT OF PHOTOVOLTAIC SYSTEMS (PVS) ON THE POWER SYSTEM STABILITY
  • REVIEW OF RELATED WORKS

CHAPTER THREE

METHODOLOGY

  • HYBRID ENERGY SYSTEM
  • METHOD USED

CHAPTER FOUR

  • MODELLING AND ANALYSIS

CHAPTER FIVE

  • CONCLUSION
  • REFERENCES

 

 

CHAPTER ONE

1.0                                                                     INTRODUCTION

1.1                                                       BACKGROUND OF THE STUDY

A few sustainable sources have experienced a decent improvement in the most recent many years. Along these lines, their mix would clearly give a decent uninterruptible force framework. Distinctive sustainable generators would supplement one another. Notwithstanding, a ton of prerequisites must be viewed as first. It is critical to see all the elements that impact its conduct, all together to bamboozle it. The most significant variables are area, time and client needs (power). Area partners data about atmosphere, fuel sources accessibility and climate conditions. This data is critical to choose what sort of sustainable generators can be picked. Again, the quickly expanding expenses of electrical cable expansions and petroleum derivative, joined with the craving to decrease carbon dioxide discharges pushed the advancement of half and half force framework appropriate for far off areas. Crossover power frameworks are intended for the age and utilization of electrical force. They are autonomous of a huge, brought together power network and join more than one sort of intensity source. They may go in size from generally huge island lattices to singular family unit power supplies. As a rule, a cross breed framework may contain substituting current (AC) diesel generators, an AC appropriation framework, a DC conveyance framework, loads, sustainable force sources, energy stockpiling, power converters, rotational converters, coupled diesel framework, dump loads, load the executive’s choices or an administrative control framework

The non-conventional energy such as solar photovoltaic system and wind turbine are natural resources and provides sustainable green energy. Its advancement is quite exciting but the technical challenges on integrating wind and PV system is noticeable. In order to meet the energy, demand the wind and PV system is combined. The wind turbine converts wind energy into electrical energy by generating AC output voltage whereas the PV array converts light energy into electrical energy by generating DC output voltage. Solar and wind energy system are commonly used Renewable energy sources (RES) to supply power. The wind and PV system are integrated to meet the energy demand. The output power of wind and PV output power is controlled using power conditioners. It is stored in batteries. The excess power is utilized by the grid. When the load demand goes high, the power is drawn from the battery and even from the grid to run the wind turbine. The Power electronic equipment’s are interlinked with PV and wind energy system either to convert or control or transfer the power.

In the entire stream of power system, the power quality is the key factor. Power quality should be maintained in generating, transmitting and distribution sector, to increase the efficiency, performance and life of the system Thus it is required majorly in renewable energy system such as wind and PV system too. Power quality refers to maintain the rated magnitude and frequency near the rated current and voltage of a power system In the present scenario, energy resources are being used at alarmingly high rate. High penetration of renewable energy resources in the existing micro grid is the dire need to fulfill increasing load demand while considering the alarming situation of global warming and higher emissions. The project introduces the hybrid power generation by the use of PV and wind energy system. The hybrid power generation is basically for improving the power quality. The power generated is stored in batteries which can be converted into A.C. by means of inverter and is fed to AC load. The surplus power is fed to the grid. For improving power quality, multilevel inverter is used as controller

The customary fuel sources are restricted and have contamination to the climate. Consequently, more consideration has been paid to the usage of sustainable power sources, for example, wind energy, power device and sun-based energy and so on Wind energy is the quickest developing and most encouraging sustainable power source. During most recent twenty years, the high infiltration of wind turbines in the force framework has been firmly identified with the progression of the breeze turbine innovation and the method of how to control. Doubly-took care of acceptance machines are getting expanding consideration for wind energy transformation framework during such circumstance Wind turbine is arranged into two general sorts: 1. Horizontal pivot and 2. Vertical hub. The restrictions on the extraction of energy from the breeze incorporate the reasonable size of wind machines, their thickness, erosion misfortunes in the pivoting hardware and efficiencies of transformation from rotational energy to electrical energy. A windmill chips away at the rule of changing dynamic energy of the breeze over to rotational mechanical energy. In further developed model the rotational energy is changed over into power (Akshay et al., 2017). Wind turbines convert the motor energy present in the breeze into mechanical energy by methods for delivering force. Since the energy contained by the breeze is as active energy, its extent relies upon the air thickness and the breeze speed.

1.2      PROBLEM STATEMENT

Power quality is defined as the ability of a system or an equipment to function satisfactorily in its electromagnetic environment without introducing intolerable electromagnetic disturbances to anything in that environment. Every quality power system ought to be flexible. Flexibility in power systems is ability to provide supply-demand balance, maintain continuity in unexpected situations, and cope with uncertainty on supply-demand sides. The new method and management requirements to provide flexibility have emerged from the trend towards power systems increasing renewable energy penetration with generation uncertainty and availability. In this study, the historical development of power system flexibility concept, the flexible power system characteristics, flexibility sources, and evaluation parameters are presented as part of international literature. The impact of variable renewable energy sources penetration on power system transient stability, small-signal stability, and frequency stability are discussed; the studies are presented to the researchers for further studies. Moreover, flexibility measurement studies are investigated, and methods of providing flexibility are evaluated.

1.3     AIM AND OBJECTIVES OF THE STUDY

the concept of a 100% renewable energy system which has evolved significantly. is known as a Smart Energy System. The main of this work is to study the techno-economics of smart energy system.

The objectives of the work are:

  1. To understand how combination of solar as well as wind power (smart energy system) in to electricity can be used to improve power quality this can be used in domestic purposes.
  2. To have a better power management strategy
  • To provide a better reliability for the energy requirement.
  1. To model PV/wind in a power system using MATLAB.
  2. To determine the technical and economic of using solar and wind energy in power system.

1.4     SCOPE OF THE STUDY

The scope of this work covers developing a model using MATLAB software as simulation and optimization tools to perform economic, and technical suitability of the proposed case study for hybrid renewable energy system (HRES). The best solution of presented hybrid renewable system is decided based on the minimization of cost of energy and net present cost with simultaneous decision of higher feasibility and reliability. Subsequently, the comparative analysis of the technical and economic parameters for the proposed HRES is presented, showing that the overall performances of system.

1.5     SIGNIFICANCE OF THE STUDY

The goal of this journal is to provide a platform for scientists and academicians all over the world to promote, share, and discuss various new issues and developments in different areas of smart grid and renewable energy – smart energy system.

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