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Impact of techno-economic parameters on the power systems model with high share of renewable energy and energy storage

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dc.citedby1
dc.contributor.authorSarhan A.en_US
dc.contributor.authorRamachandaramurthy V.K.en_US
dc.contributor.authorKiong T.S.en_US
dc.contributor.authorEkanayake J.en_US
dc.contributor.authorid57203979904en_US
dc.contributor.authorid6602912020en_US
dc.contributor.authorid57236542100en_US
dc.contributor.authorid7003409510en_US
dc.date.accessioned2023-05-29T09:05:38Z
dc.date.available2023-05-29T09:05:38Z
dc.date.issued2021
dc.descriptionCost benefit analysis; Cost effectiveness; Costs; Decision making; Economic analysis; Economic and social effects; Renewable energy resources; Design and operations; Optimal generation; Power systems modeling; Renewable energies; Renewable generation; Spatial temporals; Systematic analysis; Techno-economics; Energy storageen_US
dc.description.abstractThe design and operation of cost-effective power systems and high penetration of renewable energy and energy storage require a modeling approach that simultaneously reflects the system's reality. Although power systems with high penetration of renewable energy and energy storage have been analyzed in the past, more systematic analysis are in need to determine the impact of generation units' techno-economic parameters on the model's accuracy. This study investigated the effects of the techno-economic and spatial-temporal parameters, which will be referred to as combined techno-economic parameters, via seven scenarios. The combined techno-economic effects were demonstrated on optimal generation mix, renewable curtailments, variability status of storage units, and energy cost. The omission of combined techno-economic parameters results in the renewable generation to be more visible and with less curtailment while significantly decreasing the share of energy storage and decreasing the energy cost by 1.53 USD/MWh. As a result, if power systems assessment dismissed the evolving techno-economic and spatial�temporal parameters, the precision of cost�benefit analysis can be compromised, thus affecting the decision-making in terms of directing projects, regulations, and policies within the power industry. � 2021 John Wiley & Sons Ltd.en_US
dc.description.natureFinalen_US
dc.identifier.ArtNoe13073
dc.identifier.doi10.1002/2050-7038.13073
dc.identifier.issue11
dc.identifier.scopus2-s2.0-85113796074
dc.identifier.urihttps://www.scopus.com/inward/record.uri?eid=2-s2.0-85113796074&doi=10.1002%2f2050-7038.13073&partnerID=40&md5=fece34e5b80835c028d39cd123623ee6
dc.identifier.urihttps://irepository.uniten.edu.my/handle/123456789/25936
dc.identifier.volume31
dc.publisherJohn Wiley and Sons Ltden_US
dc.relation.ispartofAll Open Access, Bronze
dc.sourceScopus
dc.sourcetitleInternational Transactions on Electrical Energy Systems
dc.titleImpact of techno-economic parameters on the power systems model with high share of renewable energy and energy storageen_US
dc.typeArticleen_US
dspace.entity.typePublication
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