Quantum mechanics

Engineering

Environmental economics

Pumped-storage hydroelectricity

Economics

Power (physics)

Computer science

Electricity generation

Distributed generation

Stand-alone power system

Mechanical engineering

Intermittent energy source

Thermodynamics

Cost of electricity by source

Physics

Simulation

Renewable energy

Dynamic simulation

Thermal

Energy storage

Automotive engineering

Process engineering

Environmental science

Capital cost

Grid parity

Turbine

Wind power

TRNSYS

Meteorology

Electricity

Photovoltaic system

Electrical engineering

Energy

This work presents a thermo-economic simulation model of a hybrid renewable power plant based on wind turbine and photovoltaic technologies, coupled to an energy storage system. The total plant capacity is 200 kW (190 kW and 10 kW, for photovoltaic and wind turbine, respectively), whereas the energy storage capacity is 400 kWh. Aim of this work is to design a renewable power plant showing limited fluctuations (with respect to the ones typically achieved in case of solar systems) with marginal amounts of electricity purchased or sold to the grid, maximizing the electricity self-consumption. The thermo-economic model, developed in TRNSYS environment, allows one to determine the best system configuration and maximize the economic profitability by considering the time-dependent tariffs applied to the electricity exchanged with the grid and the possibility to store electricity. Different system layouts with or without the storage system and for different users are considered. Results show negative profit indexes of the layouts including the storage system (−0.27 in the worst case vs. 0.61 in the best case without the storage), due to its lower efficiency and its higher capital cost, although a remarkable reduction of the operating costs and an enhancing of the self-consumed energy.

A hybrid renewable system based on wind and solar energy coupled with an electrical storage: Dynamic simulation and economic assessment