Integrated Economic Optimization of Hybrid Thermosolar Concentrating System Based on Exact Mathematical Method

Stylianos A. Papazis
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Stylianos A. Papazis: Department of Electrical and Computer Engineering, School of Engineering, Democritus University of Thrace, 67100 Xanthi, Greece

Energies, 2022, vol. 15, issue 19, 1-22

Abstract: This article presents an integrated approach for solving the optimization of economic dispatch and commitment EDC problems of hybrid thermosolar concentrating power generating systems using matrix mathematics. The model uses matrices, and is solved by matlab programming. The study case of a hybrid thermosolar system in the north-west of Greece shows the impact of concentrating solar power (CSP) generation on the optimal cost of energy produced: the CSP system increases the operational costs as compared to the fossil fuel thermal systems. To acquire the benefits of cleaner electric energy with diminished emissions versus the minimal cost of electrical energy generation belongs to multicriteria managerial decisions. This approach can be applied to hybrid energy systems with large numbers of thermal and CSP generators. It offers an accurate instrument to energy engineers and researchers, for critical managerial decisions regarding electrical energy economics.

Keywords: concentrating solar systems; economic optimization; energy economics; hybrid energy systems; renewable energy (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: 2022
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Citations: View citations in EconPapers (3)

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