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

Mohammad Rozali, N.E. and Wan Alwi, S.R. and Manan, Z.A. and Klemeš, J.J. (2016) Sensitivity analysis of hybrid power systems using Power Pinch Analysis considering Feed-in Tariff. Energy, 116 . pp. 1260-1268.

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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

Item Type:Article
Impact Factor:cited By 10
Uncontrolled Keywords:Outages; Profitability; Renewable energy resources; Stochastic systems; Systems engineering, Feed-in tariff; Financial benefits; Hybrid power systems; Hybrid power systems (HPS); Pinch analysis; Project developers; Purchase agreements; Renewable energies, Sensitivity analysis, balance of payments; electricity; energy planning; energy policy; energy resource; numerical method; profitability; project design; renewable resource; sensitivity analysis
ID Code:25422
Deposited By: Ms Sharifah Fahimah Saiyed Yeop
Deposited On:27 Aug 2021 13:00
Last Modified:27 Aug 2021 13:00

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