Economic analysis and optimal energy management models for microgrid systems: A case study in Taiwan
► An optimization model of energy supply in microgrid system is formulated. ► Optimal energy management strategies are determined. ► Sensitivity analyses of storage capacity and energy demand is performed. The purpose of this research is to perform economic analysis, formulate an optimization model,...
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Published in | Applied energy Vol. 103; pp. 145 - 154 |
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Main Authors | , , , , |
Format | Journal Article |
Language | English |
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Elsevier Ltd
01.03.2013
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Abstract | ► An optimization model of energy supply in microgrid system is formulated. ► Optimal energy management strategies are determined. ► Sensitivity analyses of storage capacity and energy demand is performed.
The purpose of this research is to perform economic analysis, formulate an optimization model, and determine optimal operating strategies for smart microgrid systems. Microgrid systems are electricity supply systems that integrate distributed renewable energy production for local demand. Microgrids are able to reduce transmission losses and improve utilization efficiency of electricity and heat. Further, greenhouse gas emissions are reduced by utilizing an efficient power generation microgrid system. This study presents an energy management model that is used to determine optimal operating strategies with maximum profit for a microgrid system in Taiwan. The smart microgrid system is equipped with energy storage devices, photovoltaic power, and wind power generation systems. Sensitivity analyses of investment in storage capacity and growth in electricity demand are conducted for the smart microgrid model. The results show that appropriate battery capacity should be determined on the basis of both battery efficiency and power supply. |
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AbstractList | The purpose of this research is to perform economic analysis, formulate an optimization model, and determine optimal operating strategies for smart microgrid systems. Microgrid systems are electricity supply systems that integrate distributed renewable energy production for local demand. Microgrids are able to reduce transmission losses and improve utilization efficiency of electricity and heat. Further, greenhouse gas emissions are reduced by utilizing an efficient power generation microgrid system. This study presents an energy management model that is used to determine optimal operating strategies with maximum profit for a microgrid system in Taiwan. The smart microgrid system is equipped with energy storage devices, photovoltaic power, and wind power generation systems. Sensitivity analyses of investment in storage capacity and growth in electricity demand are conducted for the smart microgrid model. The results show that appropriate battery capacity should be determined on the basis of both battery efficiency and power supply. ► An optimization model of energy supply in microgrid system is formulated. ► Optimal energy management strategies are determined. ► Sensitivity analyses of storage capacity and energy demand is performed. The purpose of this research is to perform economic analysis, formulate an optimization model, and determine optimal operating strategies for smart microgrid systems. Microgrid systems are electricity supply systems that integrate distributed renewable energy production for local demand. Microgrids are able to reduce transmission losses and improve utilization efficiency of electricity and heat. Further, greenhouse gas emissions are reduced by utilizing an efficient power generation microgrid system. This study presents an energy management model that is used to determine optimal operating strategies with maximum profit for a microgrid system in Taiwan. The smart microgrid system is equipped with energy storage devices, photovoltaic power, and wind power generation systems. Sensitivity analyses of investment in storage capacity and growth in electricity demand are conducted for the smart microgrid model. The results show that appropriate battery capacity should be determined on the basis of both battery efficiency and power supply. |
Author | Hu, Ming-Che Lu, Su-Ying Chang, Yung-Ruei Chen, Yen-Haw Lee, Ta-Tung |
Author_xml | – sequence: 1 givenname: Yen-Haw surname: Chen fullname: Chen, Yen-Haw organization: Taiwan Institute of Economic Research, Research Division 1, 7F, No. 16-8 Dehuei Street, Jhongshan District, Taipei 104, Taiwan – sequence: 2 givenname: Su-Ying surname: Lu fullname: Lu, Su-Ying organization: Taiwan Institute of Economic Research, Research Division 1, 7F, No. 16-8 Dehuei Street, Jhongshan District, Taipei 104, Taiwan – sequence: 3 givenname: Yung-Ruei surname: Chang fullname: Chang, Yung-Ruei organization: Institute of Nuclear Energy Research, Atomic Energy Council, Taiwan, No. 1000, Wenhua Rd., Jiaan Village, Longtan Township, Taoyuan County 32546, Taiwan – sequence: 4 givenname: Ta-Tung surname: Lee fullname: Lee, Ta-Tung organization: Department of Bioenvironmental Systems Engineering, National Taiwan University, No. 1, Sec. 4, Roosevelt Road, Taipei 10617, Taiwan – sequence: 5 givenname: Ming-Che surname: Hu fullname: Hu, Ming-Che email: mchu@ntu.edu.tw organization: Department of Bioenvironmental Systems Engineering, National Taiwan University, No. 1, Sec. 4, Roosevelt Road, Taipei 10617, Taiwan |
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Keywords | Microgrid Optimization Sensitivity analysis Multicriteria analysis Small scale Economic optimization Smart grid Case study Optimal strategy Wind energy Electricity Supply demand balance Storage capacity Solar energy Technicoeconomic study Production capacity Photovoltaic generator Energy management |
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Snippet | ► An optimization model of energy supply in microgrid system is formulated. ► Optimal energy management strategies are determined. ► Sensitivity analyses of... The purpose of this research is to perform economic analysis, formulate an optimization model, and determine optimal operating strategies for smart microgrid... |
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SubjectTerms | Applied sciences batteries case studies economic analysis Economic data efficiency Electric energy electricity Energy Energy economics Exact sciences and technology General, economic and professional studies greenhouse gas emissions heat Microgrid Natural energy Optimization power generation renewable energy Sensitivity analysis strategies systems Taiwan wind power |
Title | Economic analysis and optimal energy management models for microgrid systems: A case study in Taiwan |
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