Work

Assessment of the Economic Analysis of Utility Scale Solar-Wind-Diesel Generator System

Year: 2024

Type: article

Abstract: The efficient use of energy resources is increasingly crucial due to the limited availability of fossil fuels and rising energy demands. This study evaluates a hybrid renewable energy system that combines Photovoltaic (PV) panels, wind turbines, and diesel generators to improve energy efficiency and reduce environmental impact in Northern Cyprus. Using the HOMER software, various system configurations were simulated to meet peak load demands ranging from 139 MW to 335 MW. Key metrics, including Net Present Cost (NPC), Levelized Cost of Energy (LCOE), and carbon emissions, were analyzed. The results show that the most cost-effective configuration, a hybrid solar-wind-diesel system with 250 MW solar and 50 MW wind capacities, achieves an NPC of $22.3 billion and an LCOE of $0.178/kWh while reducing carbon emissions by approximately 13,052 kg/year. These findings highlight the potential of hybrid renewable systems to improve energy efficiency, lower costs, and reduce environmental impact, offering valuable insights for energy policymakers and researchers.

Source: International Journal of Electrical and Electronics Engineering

DOI: 10.14445/23488379/ijeee-v11i9p124

Authors: Yonis Khalif Elmi, Diaa Salman, Abdullahi Sheikh Mohamed, Abdirahman Abdullahi Ali

Institutions: Cyprus International University, Jamhuriya University of Science and Technology

Language: English

Topic: Hybrid Renewable Energy Systems

Subfield: Energy Engineering and Power Technology

Field: Energy

Domain: Physical Sciences

SDGs: Affordable and clean energy, Industry, innovation and infrastructure, Climate action, Responsible consumption and production

Open Access status: hybrid

OpenAlex ID: W4403357047