Sensitivity analysis of hybrid power systems using Power Pinch Analysis considering Feed-in Tariff

Feed-in Tariff (FiT) has been one of the most effective policies in accelerating the development of renewable energy (RE) projects. The amount of RE electricity in the FiT purchase agreement is an important decision that has to be made by the RE project developers. They have to consider various cruc...

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Main Authors: Mohammad Rozali, N.E., Wan Alwi, S.R., Manan, Z.A., Klemeš, J.J.
Format: Article
Institution: Universiti Teknologi Petronas
Record Id / ISBN-0: utp-eprints.25877 /
Published: Elsevier Ltd 2016
Online Access: https://www.scopus.com/inward/record.uri?eid=2-s2.0-84994478294&doi=10.1016%2fj.energy.2016.08.063&partnerID=40&md5=6cf5bac49a9eb81be6d649cfef3a444d
http://eprints.utp.edu.my/25877/
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Summary: Feed-in Tariff (FiT) has been one of the most effective policies in accelerating the development of renewable energy (RE) projects. The amount of RE electricity in the FiT purchase agreement is an important decision that has to be made by the RE project developers. They have to consider various crucial factors associated with RE system operation as well as its stochastic nature. The presented work aims to assess the sensitivity and profitability of a hybrid power system (HPS) in cases of RE system failure or shutdown. The amount of RE electricity for the FiT purchase agreement in various scenarios was determined using a novel tool called On-Grid Problem Table based on the Power Pinch Analysis (PoPA). A sensitivity table has also been introduced to assist planners to evaluate the effects of the RE system's failure on the profitability of the HPS. This table offers insights on the variance of the RE electricity. The sensitivity analysis of various possible scenarios shows that the RE projects can still provide financial benefits via the FiT, despite the losses incurred from the penalty levied. © 2016 Elsevier Ltd

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