The Effect of Economic Conditions on Optimal Sizing and Feasibility of Hybrid Power System

Musa Terkes; Alpaslan Demirci; Zafer Ozturk; Ali Ozturk; Salih Tosun; Cenk Andic

doi:10.1109/ELECO60389.2023.10415979

The Effect of Economic Conditions on Optimal Sizing and Feasibility of Hybrid Power System

Musa Terkes^*
, Alpaslan Demirci
, Zafer Ozturk
, Ali Ozturk
, Salih Tosun
, Cenk Andic

^*Bu çalışma için yazışmadan sorumlu yazar

Elektrik Mühendisliği Bölümü

Yildiz Technical University
Duzce University

Araştırma sonucu: Kitap/Rapor/Konferans Bildirisinde Bölüm › Konferans katkısı › bilirkişi

1 Atıf (Scopus)

Özet

Clean energy-focused hybrid power systems (HPS) can help countries with their sustainable development plans. Optimal sizing of HPS depending on the varying countries' economic conditions in a reliable and robust strategy can reduce investment risks. This study performed optimal PV-DG-ESS based HPS sizing and feasibility analyses for Antalya, considering Türkiye's last ten years' interest and inflation rates, energy purchase costs, diesel costs, HPS investment, and operating costs. Moreover, the scope of the study is extended by sensitivity analyses on solar radiation, interest, and inflation. The results show that the proposed optimal HPS can reduce electricity purchase costs by up to $143.8 thousand/year and increase the renewable fraction by up to 74%, considering the current economic and climatic conditions. According to the sensitivity analysis, the grid was preferred in scenarios where solar radiation was lower than 5.5 kWh/m²/day. The research revealed the impact of economic conditions on HPS and is expected to guide investors and policymakers.

Orijinal dil	İngilizce
Ana bilgisayar yayını başlığı	14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedings
Yayınlayan	Institute of Electrical and Electronics Engineers Inc.
ISBN (Elektronik)	9798350360493
DOI'lar	https://doi.org/10.1109/ELECO60389.2023.10415979
Yayın durumu	Yayınlandı - 2023
Etkinlik	14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Virtual, Bursa, Türkiye Süre: 30 Kas 2023 → 2 Ara 2023

Yayın serisi

Adı	14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedings

???event.eventtypes.event.conference???

???event.eventtypes.event.conference???	14th International Conference on Electrical and Electronics Engineering, ELECO 2023
Ülke/Bölge	Türkiye
Şehir	Virtual, Bursa
Periyot	30/11/23 → 2/12/23

Bibliyografik not

Publisher Copyright:
© 2023 IEEE.

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SKH 17 Hedefler için Ortaklıklar

Belgeye Erişim

10.1109/ELECO60389.2023.10415979

Diğer Dosyalar ve Linkler

Link to publication in Scopus

Alıntı Yap

Terkes, M., Demirci, A., Ozturk, Z., Ozturk, A., Tosun, S., & Andic, C. (2023). The Effect of Economic Conditions on Optimal Sizing and Feasibility of Hybrid Power System. In 14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedings (14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedings). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/ELECO60389.2023.10415979

Terkes, Musa ; Demirci, Alpaslan ; Ozturk, Zafer et al. / The Effect of Economic Conditions on Optimal Sizing and Feasibility of Hybrid Power System. 14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedings. Institute of Electrical and Electronics Engineers Inc., 2023. (14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedings).

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title = "The Effect of Economic Conditions on Optimal Sizing and Feasibility of Hybrid Power System",

abstract = "Clean energy-focused hybrid power systems (HPS) can help countries with their sustainable development plans. Optimal sizing of HPS depending on the varying countries' economic conditions in a reliable and robust strategy can reduce investment risks. This study performed optimal PV-DG-ESS based HPS sizing and feasibility analyses for Antalya, considering T{\"u}rkiye's last ten years' interest and inflation rates, energy purchase costs, diesel costs, HPS investment, and operating costs. Moreover, the scope of the study is extended by sensitivity analyses on solar radiation, interest, and inflation. The results show that the proposed optimal HPS can reduce electricity purchase costs by up to \$143.8 thousand/year and increase the renewable fraction by up to 74\%, considering the current economic and climatic conditions. According to the sensitivity analysis, the grid was preferred in scenarios where solar radiation was lower than 5.5 kWh/m2/day. The research revealed the impact of economic conditions on HPS and is expected to guide investors and policymakers.",

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author = "Musa Terkes and Alpaslan Demirci and Zafer Ozturk and Ali Ozturk and Salih Tosun and Cenk Andic",

note = "Publisher Copyright: {\textcopyright} 2023 IEEE.; 14th International Conference on Electrical and Electronics Engineering, ELECO 2023 ; Conference date: 30-11-2023 Through 02-12-2023",

year = "2023",

doi = "10.1109/ELECO60389.2023.10415979",

language = "English",

series = "14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedings",

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Terkes, M, Demirci, A, Ozturk, Z, Ozturk, A, Tosun, S & Andic, C 2023, The Effect of Economic Conditions on Optimal Sizing and Feasibility of Hybrid Power System. in 14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedings. 14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedings, Institute of Electrical and Electronics Engineers Inc., 14th International Conference on Electrical and Electronics Engineering, ELECO 2023, Virtual, Bursa, Türkiye, 30/11/23. https://doi.org/10.1109/ELECO60389.2023.10415979

The Effect of Economic Conditions on Optimal Sizing and Feasibility of Hybrid Power System. / Terkes, Musa; Demirci, Alpaslan; Ozturk, Zafer et al.
14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedings. Institute of Electrical and Electronics Engineers Inc., 2023. (14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedings).

Araştırma sonucu: Kitap/Rapor/Konferans Bildirisinde Bölüm › Konferans katkısı › bilirkişi

TY - GEN

T1 - The Effect of Economic Conditions on Optimal Sizing and Feasibility of Hybrid Power System

AU - Terkes, Musa

AU - Demirci, Alpaslan

AU - Ozturk, Zafer

AU - Ozturk, Ali

AU - Tosun, Salih

AU - Andic, Cenk

PY - 2023

Y1 - 2023

N2 - Clean energy-focused hybrid power systems (HPS) can help countries with their sustainable development plans. Optimal sizing of HPS depending on the varying countries' economic conditions in a reliable and robust strategy can reduce investment risks. This study performed optimal PV-DG-ESS based HPS sizing and feasibility analyses for Antalya, considering Türkiye's last ten years' interest and inflation rates, energy purchase costs, diesel costs, HPS investment, and operating costs. Moreover, the scope of the study is extended by sensitivity analyses on solar radiation, interest, and inflation. The results show that the proposed optimal HPS can reduce electricity purchase costs by up to $143.8 thousand/year and increase the renewable fraction by up to 74%, considering the current economic and climatic conditions. According to the sensitivity analysis, the grid was preferred in scenarios where solar radiation was lower than 5.5 kWh/m2/day. The research revealed the impact of economic conditions on HPS and is expected to guide investors and policymakers.

AB - Clean energy-focused hybrid power systems (HPS) can help countries with their sustainable development plans. Optimal sizing of HPS depending on the varying countries' economic conditions in a reliable and robust strategy can reduce investment risks. This study performed optimal PV-DG-ESS based HPS sizing and feasibility analyses for Antalya, considering Türkiye's last ten years' interest and inflation rates, energy purchase costs, diesel costs, HPS investment, and operating costs. Moreover, the scope of the study is extended by sensitivity analyses on solar radiation, interest, and inflation. The results show that the proposed optimal HPS can reduce electricity purchase costs by up to $143.8 thousand/year and increase the renewable fraction by up to 74%, considering the current economic and climatic conditions. According to the sensitivity analysis, the grid was preferred in scenarios where solar radiation was lower than 5.5 kWh/m2/day. The research revealed the impact of economic conditions on HPS and is expected to guide investors and policymakers.

KW - Electric vehicle

KW - HPS capital cost

KW - diesel fuel price

KW - grid tariff

KW - optimization

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U2 - 10.1109/ELECO60389.2023.10415979

DO - 10.1109/ELECO60389.2023.10415979

M3 - Conference contribution

AN - SCOPUS:85185824029

T3 - 14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedings

BT - 14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedings

PB - Institute of Electrical and Electronics Engineers Inc.

T2 - 14th International Conference on Electrical and Electronics Engineering, ELECO 2023

Y2 - 30 November 2023 through 2 December 2023

ER -

Terkes M, Demirci A, Ozturk Z, Ozturk A, Tosun S, Andic C. The Effect of Economic Conditions on Optimal Sizing and Feasibility of Hybrid Power System. In 14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedings. Institute of Electrical and Electronics Engineers Inc. 2023. (14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedings). doi: 10.1109/ELECO60389.2023.10415979

The Effect of Economic Conditions on Optimal Sizing and Feasibility of Hybrid Power System

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