Quantifying techno-economic indicators' impact on isolated renewable energy systems

Abstract

Addressing climate change with the rising global energy usage necessitates electricity sector decarbonization by rapidly moving toward flexible and efficient off-grid renewable energy systems (RESs). This paper analyzes the wind and solar micro-grids, with batteries and pumped hydro storage for a robust off-grid RES techno-economic operation, while considering diverse multi-objective optimization cases. This research has considered the RES variable operational losses in the developed methodology and relations between different indicators are evaluated, revealing a basic understanding between them. The results reveal that the reliability index is inversely related to the oversupply index, while directly related to the system self-sufficiency index. The cost of energy is more sensitive to technical indicators rather than the storage cost and so can be used as a primary monetary index. Energy and cost balance analysis showed that 16%-20% of the used energy was drained in RES operational losses, which were usually ignored in previous studies.