Volume 4: Innovative Solutions for Energy Transitions: Part III

Optimal Cost Evaluation Of Stand-Alone Microgrids With Different Design Xue Kong, Nan Li, Hailin Mu*, Hongye Wang

Abstract

In the resent years, microgrid has been widely used in the world and become a good solution to the urgent energy and environment issues. However, the high cost of microgrid limits the development of microgrid. In this paper, a novel design is presented to be compared with traditional design using a contrastive framework with renewable energy considering battery lifetime and renewable energy penetration. Numerical results show that the LCOE of the novel design can be reduced by 6.23% compared with traditional design.

Keywords microgrid, energy storage system, gas turbine, LCOE