Accessibility navigation


Assessing the economic and energy efficiency for multi-energy virtual power plants in regulated markets: a case study in Egypt

Elgamal, A. H., Vahdati, M. ORCID: https://orcid.org/0009-0009-8604-3004 and Shahrestani, M. ORCID: https://orcid.org/0000-0002-8741-0912 (2022) Assessing the economic and energy efficiency for multi-energy virtual power plants in regulated markets: a case study in Egypt. Sustainable Cities and Society, 83. 103968. ISSN 2210-6707

[img]
Preview
Text (Open access) - Published Version
· Available under License Creative Commons Attribution.
· Please see our End User Agreement before downloading.

19MB
[img] Text - Accepted Version
· Restricted to Repository staff only
· The Copyright of this document has not been checked yet. This may affect its availability.

1MB

It is advisable to refer to the publisher's version if you intend to cite from this work. See Guidance on citing.

To link to this item DOI: 10.1016/j.scs.2022.103968

Abstract/Summary

This paper investigates the design and operation management of VPPs in regulated markets. A new framework based on profit maximization objective function is presented in this study. The hypotheses of this research is that considering profit as an objective function would yield a more realistic and optimal sizes compared to Cost of Energy (COE) minimization approach adopted in literature. The analyzed VPP aggregates solar PV units, CCHP supplying power and thermal energy, Battery storage system and thermal energy storage system. The system is formulated in an optimization model fed by energy demand profile, prices and inputs for solar power (irradiance and weather data). The objective function is formulated based on maximization of profit of the VPP selling power to the grid by Power Purchase Agreement (PPA), selling power to consumers at the public electricity tariff, and selling thermal energy at an assumed constant tariff. CCHP non-linear part-load efficiency is also considered in the model, accordingly, Genetic Algorithm (GA) is employed to solve the optimization. Results of the optimally configured model achieved 36% improvement in COE compared to literature. Solar power contributed by 31% from the total produced energy without imbalance, grid power contributed by 4%, and CO2 emissions reduced by 47% compared to full dependency on the grid. Statistical relationships were drawn showing the relationship between profit, energy and exergy efficiencies versus different CCHP capacities. In addition, analysis is provided for the efficiencies’ relation with the dumped heat from the CCHP.

Item Type:Article
Refereed:Yes
Divisions:Science > School of the Built Environment > Energy and Environmental Engineering group
ID Code:105575
Publisher:Elsevier

Downloads

Downloads per month over past year

University Staff: Request a correction | Centaur Editors: Update this record

Page navigation