Techno-economical evaluation of different energy storage technologies for hybrid power plants

Abstract

The growing global demand for energy and the urgent need to reduce greenhouse gas emissions have driven the adoption of hybrid power plants (HPPs) that integrate renewable energy sources (RES) with energy storage systems (ESSs). This thesis investigates the optimal design and operation of islanded HPPs, focusing on two case studies: Ikaria in Greece and the Faroe Islands. A model developed using HyDesign is employed to evaluate various ESSs, including Li-ion batteries, Pumped Hydro Energy Storage (PHES), Compressed Air Energy Storage (CAES), Liquid Air Energy Storage (LAES), Gravity Energy Storage (GES), and Pumped Thermal Energy Storage (PTES) and to model the operation of an islanded configuration. The study assesses the technical and economic performance of these systems in off-grid applications, taking into account the unique weather conditions and electrical grid demand load of each case study. Moreover, a multi-objective function is applied to identify the optimal sizing of the HPPs, with a focus on minimizing diesel generator usage and/or maximizing the net present value (NPV) relative to capital expenditures. The trade-offs between these objectives are thoroughly examined and discussed. The findings contribute to the broader goal of sustainable energy development in remote communities, offering valuable insights into the deployment of RES and ESS to achieve energy independence and environmental sustainability.