Economic and environmental analysis of a green energy hub with energy storage under fixed and variable pricing structures
by Daniel van Lanen, Jennifer Cocking, Sean B. Walker, Michael Fowler, Roydon Fraser, Steven B Young, Leila Ahmadi, Alan Thai, Jake Yeung, Arthur Yip
AbstractWith the increased use of intermittent renewable power generation, including wind and solar, the need for energy storage is increasing. Re-purposed hybrid electric vehicle lithium ion batteries have been shown to have energy storage potential at a reduced financial cost. In a two stage MatLAB simulation, a Net Zero grid connected facility is created, and then the yearly electricity price of is calculated under various scenario using two different pricing structures, fixed Feed-in Tariff (FIT) and market. The facility under consideration is a commercial distribution center with refrigeration, onsite generation of hydrogen for fuel cell powered forklifts, solar and wind power generation, and re-purposed batteries for energy storage. The FIT mechanism is shown to be a deterrent to implementing energy storage onsite, as well as to increasing the use of locally generated power. The mechanism also negatively influences the indirect electricity emissions, which is not consistent with environmental objectives.
Keywords: Energy Hub; Fuel Cell MHVs; Energy Storage; Repurposed Li-Ion Batteries; Feed-in Tariff
Citationvan Lanen D, Cocking C, Walker SB, Fowler M, Fraser R, Young SB, Ahmadi L, Thai A, Yeung J, Yip A. (2015). Economic and environmental analysis of a green energy hub with energy storage under fixed and variable pricing structures. International Journal for Process Systems Engineering.