Publication Type:

Conference Paper

Source:

IOP Conference Series: Materials Science and Engineering, Institute of Physics Publishing, Volume 197, Number 1 (2017)

URL:

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85021101091&doi=10.1088%2f1757-899X%2f197%2f1%2f012035&partnerID=40&md5=69376cc2d1a4c0e0b53595e421a61697

Keywords:

cost reduction, Customer satisfaction, Energy demands, Energy management, Financial yields, Hybrid solar-wind system, Hybrid systems, Individual systems, Investments, Logical constraints, Net present value, Related variables, Solar hybrid systems, Solar wind

Abstract:

In this paper, a net present value (NPV) approach for a solar hybrid system has been presented. The system, in question aims at supporting an investor by assessing an investment in solar-wind hybrid system in a given area. The approach follow a combined process of modelling the system, with optimization of major investment-related variables to maximize the financial yield of the investment. The consideration of solar wind hybrid supply presents significant potential for cost reduction. The investment variables concern the location of solar wind plant, and its sizing. The system demand driven, meaning that its primary aim is to fully satisfy the energy demand of the customers. Therefore, the model is a practical tool in the hands of investor to assess and optimize in financial terms an investment aiming at covering real energy demand. Optimization is performed by taking various technical, logical constraints. The relation between the maximum power obtained between individual system and the hybrid system as a whole in par with the net present value of the system has been highlighted. © Published under licence by IOP Publishing Ltd.

Notes:

cited By 0; Conference of 2nd International Conference on Frontiers in Automobile and Mechanical Engineering ; Conference Date: 7 July 2016 Through 9 July 2016; Conference Code:128204

Cite this Research Publication

A. Nair, Murali, K., Dr. Anbuudayasankar S. P., and Arjunan, C. V., “Modelling and Optimising the Value of a Hybrid Solar-Wind System”, in IOP Conference Series: Materials Science and Engineering, 2017, vol. 197.

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