Techno-Economic Analysis of a Stand-Alone Hybrid System: Application in Donoussa Island, Greece

Michail Katsivelakis, Dimitrios Bargiotas, Aspassia Daskalopulu, Ioannis P. Panapakidis and Lefteri Tsoukalas
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Michail Katsivelakis: Department of Electrical and Computer Engineering, University of Thessaly, 38221 Volos, Greece
Dimitrios Bargiotas: Department of Electrical and Computer Engineering, University of Thessaly, 38221 Volos, Greece
Aspassia Daskalopulu: Department of Electrical and Computer Engineering, University of Thessaly, 38221 Volos, Greece
Ioannis P. Panapakidis: Department of Electrical and Computer Engineering, University of Thessaly, 38221 Volos, Greece
Lefteri Tsoukalas: School of Nuclear Engineering, Purdue University, West Lafayette, IN 47907, USA

Energies, 2021, vol. 14, issue 7, 1-31

Abstract: Hybrid Renewable Energy Systems (HRES) are an attractive solution for the supply of electricity in remote areas like islands and communities where grid extension is difficult. Hybrid systems combine renewable energy sources with conventional units and battery storage in order to provide energy in an off-grid or on-grid system. The purpose of this study is to examine the techno-economical feasibility and viability of a hybrid system in Donoussa island, Greece, in different scenarios. A techno-economic analysis was conducted for a hybrid renewable energy system in three scenarios with different percentages of adoption rate (20%, 50% and 100%)and with different system configurations. Using HOMER Pro software the optimal system configuration between the feasible configurations of each scenario was selected, based on lowest Net Present Cost (NPC), minimum Excess Electricity percentage, and Levelized Cost of Energy (LCoE). The results obtained by the simulation could offer some operational references for a practical hybrid system in Donoussa island. The simulation results confirm the application of a hybrid system with 0% of Excess Electricity, reasonable NPC and LCoE and a decent amount of renewable integration.

Keywords: stand-alone hybrid system; HOMER Pro; simulation-optimization; techno-economic analysis; excess electricity percentage; Net Present Cost (NPC); Levelizez Cost of Energy (LCoE) (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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