Work

Using break-even analysis to explore the cost and carbon reduction benefits of solar and wind energy integration in microgrids for convenience stores

Year: 2024

Type: article

Abstract: In response to the increasing demands for net-zero carbon emissions in Taiwan and globally, this study explores the feasibility of implementing microgrid technologies in convenience stores to reduce carbon emissions. The study utilizes the commercial simulation tool HomerPro to evaluate the performance of integrating solar and wind power into microgrid systems, aligning with Taiwan's current priorities in renewable energy development. The analysis incorporates carbon pricing scenarios, grid reliability considerations, and financial variables such as discount and inflation rates. We simulated 256 system configurations to identify the most economically viable solutions under various conditions. The results indicate that integrating solar and wind energy into microgrid systems can significantly lower energy costs and carbon emissions, especially in high carbon-price scenarios. These benefits provide strong incentives for businesses to adopt carbon-neutral strategies. These findings provide valuable insights for policymakers and businesses, highlighting the critical role of reducing green power purchase prices in improving economic feasibility. Future research explores the impacts of integrating other renewable energy sources, offering broader technical support for achieving carbon neutrality.

Source: Heliyon

DOI: 10.1016/j.heliyon.2024.e39644

Author: I-Hua Chung

Institution: National Kaohsiung 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, Climate action, Industry, innovation and infrastructure

Open Access status: gold

Estimated APC paid: $2,100