Techno-Economic Optimization of Clean Energy Hybrid Systems in the Context of Assorted Battery Storage Technologies

Abstract

This paper presents a techno-economic analysis of hybrid energy systems based on different battery energy storage technologies (BESS) of lithium-ion battery (LIB), Nickel metal-hydride (NiMH), Nickel-cadmium (Ni-Cd) and Lead Acid Battery (LAB). Three different hybrid power system configurations of solar photovoltaic (PV) and battery (PV/BESS), wind turbine (WT) integrated with battery (WT/BESS) and PV/WT/BESS were studied. The techno-economic optimizations were performed based on applying modern intelligent computational techniques of Flower Pollination Algorithm (FPA) and Particle Swarm Optimization (PSO). Simulations conducted for the hybrid systems show that the most cost-effective energy system configuration has a Cost of Energy (COE) of 0.125 $/kWh, Net Present Cost (NPC) of $76,402.00 and Deficit Power Supply Probability (DPSP) of 0.012 as obtained by the FPA optimization technique in the PV/WT/BESS. Besides, it was also found that among the four battery technologies selected for this study, LIB exhibited the best techno-economic benefits regarding the number of batteries required, COE and the NPC of a small-scale hybrid power system for the case study location. The viability and application prospects of other selected BESS have also been established in the framework based on the results obtained.