Levelized cost of electricity calculation of the energy generation plant of a CO2 neutral micro-grid

The new paradigm of distributed energy generation is bringing the need of the development of new local management grid systems, also called micro-grids. However, their economic profitability it’s still uncertain. Accordingly, this paper develops a techno-economic assessment of the micro-grid by calc...

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Bibliographic Details
Published in:Energy (Oxford) 2020-10, Vol.208, p.118383, Article 118383
Main Authors: Arrinda, M., Berecibar, M., Oyarbide, M., Macicior, H., Muxika, E., Messagie, M.
Format: Article
Language:English
Subjects:
Aging
Batteries
Battery storage
Carbon dioxide
Distributed generation
Economics
Electricity
Energy consumption
Energy storage
LCOE
Lithium
Lithium-ion batteries
Management systems
Micro-grid
Modeling
Optimal operation
Profitability
Rechargeable batteries
Solar energy
Thermal management
Wind power
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Summary:The new paradigm of distributed energy generation is bringing the need of the development of new local management grid systems, also called micro-grids. However, their economic profitability it’s still uncertain. Accordingly, this paper develops a techno-economic assessment of the micro-grid by calculating the Levelized Cost of Electricity of the energy generation plant inside the micro-grid. The studied energy generation plant counts with a solar energy generation, wind energy generation and a lithium ion battery-based energy storage. The research work considers as certain the solar energy generation, the wind energy generation and the energy consumption based on data collected all over the 2017. However, it takes as uncertain the energy evolution and replacement of the batteries. The whole micro-grid that integrates the electric, thermal and aging behavior of the batteries is simulated in order to calculate those uncertain variables under different battery operation criteria and battery thermal management systems. As result, this paper presents a high accurate and detailed cost assessment for different battery operation scenarios, where the most profitable combination of thermal management and battery operation criteria are obtained. •LCOE of the energy generation installation inside a micro-grid is calculated.•LCOE of a hybrid energy installation with energy storage capacity is calculated.•The electric, thermal and aging behavior of an energy storage system is simulated.•Optimal operation of the micro-grid is proposed.
ISSN:0360-5442
1873-6785
DOI:10.1016/j.energy.2020.118383