An MILP model for cost-optimal planning of an on-grid hybrid power system for an eco-industrial park

The application of on-grid hybrid power system (HPS) has been effective for harnessing renewable energy resources and ensuring environmental sustainability. A number of algebraic and mathematical modeling approaches have been introduced for the optimisation of on-grid HPS. While algebraic power pinc...

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Main Authors: Theo, W.L., Lim, J.S., Wan Alwi, S.R., Mohammad Rozali, N.E., Ho, W.S., Abdul-Manan, Z.
Format: Article
Institution: Universiti Teknologi Petronas
Record Id / ISBN-0: utp-eprints.25491 /
Published: Elsevier Ltd 2016
Online Access: https://www.scopus.com/inward/record.uri?eid=2-s2.0-84984839037&doi=10.1016%2fj.energy.2016.05.043&partnerID=40&md5=1ac1ef6e24c844f03b7c1bf103044dcc
http://eprints.utp.edu.my/25491/
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spelling utp-eprints.254912021-08-27T13:02:20Z An MILP model for cost-optimal planning of an on-grid hybrid power system for an eco-industrial park Theo, W.L. Lim, J.S. Wan Alwi, S.R. Mohammad Rozali, N.E. Ho, W.S. Abdul-Manan, Z. The application of on-grid hybrid power system (HPS) has been effective for harnessing renewable energy resources and ensuring environmental sustainability. A number of algebraic and mathematical modeling approaches have been introduced for the optimisation of on-grid HPS. While algebraic power pinch analysis (PoPA) tools have been developed to enable the selection of cost-effective energy storage technology, the available mathematical modeling approaches have yet to consider the economics and storage system selection in the design of an optimal on-grid HPS. This work presents a mixed-integer linear programming (MILP) for the optimal design of an on-grid HPS with the minimum net present value (NPV) of the overall electricity production cost and the selection of the optimum energy storage technology. Two case studies are presented in this work. In the former, the differences between the developed MILP model and previous methods are highlighted, with sensitivity analysis to investigate the impact of electricity tariff on the on-grid HPS. In the second case study, the developed MILP model was applied to an Eco-Industrial Park (EIP) case study with energy storage technology selection. Lead-acid battery system was found to be the optimal choice due to its low investment requirement. © 2016 Elsevier Ltd Elsevier Ltd 2016 Article NonPeerReviewed https://www.scopus.com/inward/record.uri?eid=2-s2.0-84984839037&doi=10.1016%2fj.energy.2016.05.043&partnerID=40&md5=1ac1ef6e24c844f03b7c1bf103044dcc Theo, W.L. and Lim, J.S. and Wan Alwi, S.R. and Mohammad Rozali, N.E. and Ho, W.S. and Abdul-Manan, Z. (2016) An MILP model for cost-optimal planning of an on-grid hybrid power system for an eco-industrial park. Energy, 116 . pp. 1423-1441. http://eprints.utp.edu.my/25491/
institution Universiti Teknologi Petronas
collection UTP Institutional Repository
description The application of on-grid hybrid power system (HPS) has been effective for harnessing renewable energy resources and ensuring environmental sustainability. A number of algebraic and mathematical modeling approaches have been introduced for the optimisation of on-grid HPS. While algebraic power pinch analysis (PoPA) tools have been developed to enable the selection of cost-effective energy storage technology, the available mathematical modeling approaches have yet to consider the economics and storage system selection in the design of an optimal on-grid HPS. This work presents a mixed-integer linear programming (MILP) for the optimal design of an on-grid HPS with the minimum net present value (NPV) of the overall electricity production cost and the selection of the optimum energy storage technology. Two case studies are presented in this work. In the former, the differences between the developed MILP model and previous methods are highlighted, with sensitivity analysis to investigate the impact of electricity tariff on the on-grid HPS. In the second case study, the developed MILP model was applied to an Eco-Industrial Park (EIP) case study with energy storage technology selection. Lead-acid battery system was found to be the optimal choice due to its low investment requirement. © 2016 Elsevier Ltd
format Article
author Theo, W.L.
Lim, J.S.
Wan Alwi, S.R.
Mohammad Rozali, N.E.
Ho, W.S.
Abdul-Manan, Z.
spellingShingle Theo, W.L.
Lim, J.S.
Wan Alwi, S.R.
Mohammad Rozali, N.E.
Ho, W.S.
Abdul-Manan, Z.
An MILP model for cost-optimal planning of an on-grid hybrid power system for an eco-industrial park
author_sort Theo, W.L.
title An MILP model for cost-optimal planning of an on-grid hybrid power system for an eco-industrial park
title_short An MILP model for cost-optimal planning of an on-grid hybrid power system for an eco-industrial park
title_full An MILP model for cost-optimal planning of an on-grid hybrid power system for an eco-industrial park
title_fullStr An MILP model for cost-optimal planning of an on-grid hybrid power system for an eco-industrial park
title_full_unstemmed An MILP model for cost-optimal planning of an on-grid hybrid power system for an eco-industrial park
title_sort milp model for cost-optimal planning of an on-grid hybrid power system for an eco-industrial park
publisher Elsevier Ltd
publishDate 2016
url https://www.scopus.com/inward/record.uri?eid=2-s2.0-84984839037&doi=10.1016%2fj.energy.2016.05.043&partnerID=40&md5=1ac1ef6e24c844f03b7c1bf103044dcc
http://eprints.utp.edu.my/25491/
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score 11.62408

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