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Techno-Economic Analysis and Optimization for Energy Systems
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Techno-Economic Analysis and Optimization for Energy Systems

A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "C: Energy Economics and Policy".

Deadline for manuscript submissions: closed (31 December 2023) | Viewed by 19986

Printed Edition Available!
A printed edition of this Special Issue is available here.

Special Issue Editors

Prof. Dr. Konstantinos Aravossis

E-Mail Website
Guest Editor
Sector of Industrial Management and Operations Research, School of Mechanical Engineering, National Technical University of Athens, 15780 Athens, Greece
Interests: analysis and evaluation of investments for technical projects (cost-benefit analysis (CBA), analysis throughout the project life cycle (LCA), multi-criteria analysis); risk management; engineering economics; environmental economics; environmental planning; circular economy; evaluation of environmental investments with applications in operational research; planning, management and evaluation of environmental investments; evaluation of technological investments through life cycle analysis (LCA) and cost-benefit analysis (CBA); planning and evaluation of corporate social responsibility (CSR) in companies; planning and evaluation of projects for public private partnerships (PPPs)
Special Issues, Collections and Topics in MDPI journals
Dr. Eleni Strantzali

E-Mail Website
Guest Editor
Assistant Professor, Department of Naval Architecture, University of West Attica, 12243 Athens, Greece
Interests: techno-economic analysis of investments; decision support systems–multicriteria analysis; energy planning; maritime supply chain; maritime transport and environment; circular economy; environmental risk assessment; smart cities; startup enterprises
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

The challenges of climate change and energy transition require fundamental changes in energy systems. Significant progress is necessary so that today's energy systems change toward satisfying the ambitious targets of the Energy Roadmap 2050 of the European Commission for fully decarbonizing the European economy by reducing GHG emissions in developed countries to below 80–95% of 1990 levels by 2050. A circular economy has risen high in the agendas of policymakers as a way of enhancing the decarbonization approach.

Conventional Techno-Economic Analysis has been used throughout the decades, as an important decision support tool to evaluate the technical performance and economic feasibility of a technology or a process. It is also usually combined with optimization techniques finding the “action” that best achieves a desired goal or objective. Recent research has begun to incorporate data-driven technologies into Techno-Economic Analysis to effectively optimize both processes and economic parameters simultaneously.

Based on the above, this Special Issue calls for papers broadly related to techno-economic analysis and optimization approaches, especially for energy systems, taking into account circular economy principles. Recent theoretical and methodological advancements, review papers with critical analysis, case studies, applications, technical contributions, and applications of tools and techniques to improve techno-economic analysis and optimization are all welcome. Specific topics of interest include, but are not limited to, the following:

  • Decarbonized energy systems, shipping decarbonization
  • Design and control of energy systems
  • Optimal energy management
  • Sustainable ship energy systems
  • Hybrid, power to X energy systems
  • Renewable energy and synthetic fuels as replacement of fossil fuels: methanol, ammonia, hydrogen
  • Energy storage systems
  • Energy systems reliability and energy security
  • Smart energy systems
  • Global, international, regional, national, and local energy systems
  • LNG as transient fuel in energy sector and shipping
  • Green Hydrogen Economy

Prof. Dr. Konstantinos Aravossis
Dr. Eleni Strantzali
Guest Editors

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Energies is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • techno-economic analysis
  • optimization models
  • energy systems
  • circular economy
  • sustainability
  • energy transition
  • decarbonization
  • energy system components
  • alternative fuels

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Published Papers (15 papers)

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29 pages, 4929 KiB  
Article
Research on Dynamic Economic Dispatch Optimization Problem Based on Improved Grey Wolf Algorithm
by Wenqiang Yang, Yihang Zhang, Xinxin Zhu, Kunyan Li and Zhile Yang
Energies 2024, 17(6), 1491; https://doi.org/10.3390/en17061491 - 21 Mar 2024
Viewed by 620
Abstract
The dynamic economic dispatch (DED) problem is a typical complex constrained optimization problem with non-smooth, nonlinear, and nonconvex characteristics, especially considering practical situations such as valve point effects and transmission losses, and its objective is to minimize the total fuel costs and total [...] Read more.
The dynamic economic dispatch (DED) problem is a typical complex constrained optimization problem with non-smooth, nonlinear, and nonconvex characteristics, especially considering practical situations such as valve point effects and transmission losses, and its objective is to minimize the total fuel costs and total carbon emissions of generating units during the dispatch cycle while satisfying a series of equality and inequality constraints. For the challenging DED problem, a model of a dynamic economic dispatch problem considering fuel costs is first established, and then an improved grey wolf optimization algorithm (IGWO) is proposed, in which the exploitation and exploration capability of the original grey wolf optimization algorithm (GWO) is enhanced by initializing the population with a chaotic algorithm and introducing a nonlinear convergence factor to improve weights. Furthermore, a simple and effective constraint-handling method is proposed for the infeasible solutions. The performance of the IGWO is tested with eight benchmark functions selected and compared with other commonly used algorithms. Finally, the IGWO is utilized for three different scales of DED cases, and compared with existing methods in the literature. The results show that the proposed IGWO has a faster convergence rate and better global optimization capabilities, and effectively reduces the fuel costs of the units, thus proving the effectiveness of IGWO. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems)
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17 pages, 2948 KiB  
Article
Techno-Economic Analysis of Combined Gas and Steam Propulsion System of Liquefied Natural Gas Carrier
by Muhammad Arif Budiyanto, Gerry Liston Putra, Achmad Riadi, Riezqa Andika, Sultan Alif Zidane, Andi Haris Muhammad and Gerasimos Theotokatos
Energies 2024, 17(6), 1415; https://doi.org/10.3390/en17061415 - 15 Mar 2024
Viewed by 653
Abstract
Various combinations of ship propulsion systems have been developed with low-carbon-emission technologies to meet regulations and policies related to climate change, one of which is the combined gas turbine and steam turbine integrated electric drive system (COGES), which is claimed to be a [...] Read more.
Various combinations of ship propulsion systems have been developed with low-carbon-emission technologies to meet regulations and policies related to climate change, one of which is the combined gas turbine and steam turbine integrated electric drive system (COGES), which is claimed to be a promising ship propulsion system for the future. The objective of this paper is to perform a techno-economic and environmental assessment of the COGES propulsion system applied to liquefied natural gas (LNG) carriers. A propulsion system design for a 7500 m3 LNG carrier was evaluated through the thermodynamics approach of the energy system. Subsequently, carbon emissions and environmental impact analyses were carried out through a life cycle assessment based on the power and fuel input of the system. Afterwards, a techno-economic analysis was carried out by considering the use of boil-off gas for fuel and additional income from carbon emission incentives. The proposed propulsion system design produces 1832 kilowatts of power for a service speed of 12 knots with the total efficiency of the system in the range of 30.1%. The results of the environmental evaluation resulted an overall environmental impact of 10.01 mPts/s. The results of the economic evaluation resulted in a positive net present value and a logical payback period for investment within 8 years of operation. The impact of this result shows that the COGES has a promising technological commercial application as an environmentally friendly propulsion system. Last, for the economy of the propulsion system, the COGES design has a positive net present value, an internal rate return in the range of 12–18%, and a payback period between 6 and 8 years, depending on the charter rate of the LNG carrier. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems)
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21 pages, 3415 KiB  
Article
Cost-Effective Optimization of an Array of Wave Energy Converters in Front of a Vertical Seawall
by Senthil Kumar Natarajan and Il Hyoung Cho
Energies 2024, 17(1), 128; https://doi.org/10.3390/en17010128 - 25 Dec 2023
Viewed by 549
Abstract
The present paper focuses on investigating the cost-effective configuration of an array of wave energy converters (WECs) composed of vertical cylinders situated in front of a vertical seawall in irregular waves. First, the hydrodynamic calculations are performed using a WAMIT commercial code based [...] Read more.
The present paper focuses on investigating the cost-effective configuration of an array of wave energy converters (WECs) composed of vertical cylinders situated in front of a vertical seawall in irregular waves. First, the hydrodynamic calculations are performed using a WAMIT commercial code based on linear potential theory, where the influence of the vertical wall is incorporated using the method of image. The viscous damping experienced by the oscillating cylinder is considered through CFD simulations of a free decay test. A variety of parameters, including WEC diameter, number of WECs, and the spacing between them, are considered to determine an economically efficient WEC configuration. The design of the WEC configuration is aided by a cost indicator, defined as the ratio of the total submerged volume of the WEC to overall power capture. The cost-effective configuration of WECs is achieved when WECs are positioned in front of a vertical wall and the distance between them is kept short. It can be explained that the trapped waves formed between adjacent WECs as well as the standing waves in front of a seawall significantly intensify wave fields around WECs and consequently amplify the heave motion of each WEC. A cost-effective design strategy of WEC deployment enhances the wave energy greatly and, consequently, contributes to constructing the wave energy farm. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems)
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30 pages, 10518 KiB  
Article
A Methodological Approach to the Simulation of a Ship’s Electric Power System
by Igor P. Boychuk, Anna V. Grinek, Nikita V. Martyushev, Roman V. Klyuev, Boris V. Malozyomov, Vadim S. Tynchenko, Viktor A. Kukartsev, Yadviga A. Tynchenko and Sergey I. Kondratiev
Energies 2023, 16(24), 8101; https://doi.org/10.3390/en16248101 - 16 Dec 2023
Cited by 6 | Viewed by 1076
Abstract
Modern ships are complex energy systems containing a large number of different elements. Each of these elements is simulated separately. Since all these models form a single system (ship), they are interdependent. The operating modes of some systems influence others, but at the [...] Read more.
Modern ships are complex energy systems containing a large number of different elements. Each of these elements is simulated separately. Since all these models form a single system (ship), they are interdependent. The operating modes of some systems influence others, but at the same time, the work of all the systems should be aimed at fulfilling the basic functions of the ship. The work proposes a methodological approach to combining various systems of ships into a single complex model. This model allows combining models of ship systems of various levels (microlevel, macrolevel, metalevel, megalevel). The work provides examples of models of such multi-level energy systems. These are energy systems composed of an electric generator, a diesel engine, a propeller shaft, and algorithms used for operating the common parts of the ship’s electric power system and a piston wear process. Analytical, structural, numerical, and object-oriented models were made for these objects. Each of these particular models describes a limited class of problems, has characteristic properties, and a mathematical structure. The work shows how particular models can be interconnected using a set-theoretic description. Particular models are combined into macrolevel models, whose output parameters are quantities that are by no means related. The macrolevel models are interrelated using control models. Control models belong to the metalevel and allow for assigning settings and response thresholds to algorithms used in automation systems. Such a model (megalevel model) allows, ultimately, investigating the dynamics of the entire system as a whole and managing it. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems)
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21 pages, 6597 KiB  
Article
Cluster-Based Approach to Estimate Demand in the Polish Power System Using Commercial Customers’ Data
by Tomasz Ząbkowski, Krzysztof Gajowniczek, Grzegorz Matejko, Jacek Brożyna, Grzegorz Mentel, Małgorzata Charytanowicz, Jolanta Jarnicka, Anna Olwert, Weronika Radziszewska and Jörg Verstraete
Energies 2023, 16(24), 8070; https://doi.org/10.3390/en16248070 - 14 Dec 2023
Viewed by 810
Abstract
This paper presents an approach to estimate demand in the Polish Power System (PPS) using the historical electricity usage of 27 thousand commercial customers, observed between 2016 and 2020. The customer data were clustered and samples as well as features were created to [...] Read more.
This paper presents an approach to estimate demand in the Polish Power System (PPS) using the historical electricity usage of 27 thousand commercial customers, observed between 2016 and 2020. The customer data were clustered and samples as well as features were created to build neural network models. The goal of this research is to analyze if the clustering of customers can help to explain demand in the PPS. Additionally, considering that the datasets available for commercial customers are typically much smaller, it was analyzed what a minimal sample size drawn from the clusters would have to be in order to accurately estimate demand in the PPS. The evaluation and experiments were conducted for each year separately; the results proved that, considering adjusted R2 and mean absolute percentage error, our clustering-based method can deliver a high accuracy in the load estimation. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems)
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25 pages, 20399 KiB  
Article
Management of Hybrid Wind and Photovoltaic System Electrolyzer for Green Hydrogen Production and Storage in the Presence of a Small Fleet of Hydrogen Vehicles—An Economic Assessment
by Anestis G. Anastasiadis, Panagiotis Papadimitriou, Paraskevi Vlachou and Georgios A. Vokas
Energies 2023, 16(24), 7990; https://doi.org/10.3390/en16247990 - 10 Dec 2023
Cited by 1 | Viewed by 1074
Abstract
Nowadays, with the need for clean and sustainable energy at its historical peak, new equipment, strategies, and methods have to be developed to reduce environmental pollution. Drastic steps and measures have already been taken on a global scale. Renewable energy sources (RESs) are [...] Read more.
Nowadays, with the need for clean and sustainable energy at its historical peak, new equipment, strategies, and methods have to be developed to reduce environmental pollution. Drastic steps and measures have already been taken on a global scale. Renewable energy sources (RESs) are being installed with a growing rhythm in the power grids. Such installations and operations in power systems must also be economically viable over time to attract more investors, thus creating a cycle where green energy, e.g., green hydrogen production will be both environmentally friendly and economically beneficial. This work presents a management method for assessing wind–solar–hydrogen (H2) energy systems. To optimize component sizing and calculate the cost of the produced H2, the basic procedure of the whole management method includes chronological simulations and economic calculations. The proposed system consists of a wind turbine (WT), a photovoltaic (PV) unit, an electrolyzer, a compressor, a storage tank, a fuel cell (FC), and various power converters. The paper presents a case study of green hydrogen production on Sifnos Island in Greece through RES, together with a scenario where hydrogen vehicle consumption and RES production are higher during the summer months. Hydrogen stations represent H2 demand. The proposed system is connected to the main power grid of the island to cover the load demand if the RES cannot do this. This study also includes a cost analysis due to the high investment costs. The levelized cost of energy (LCOE) and the cost of the produced H2 are calculated, and some future simulations correlated with the main costs of the components of the proposed system are pointed out. The MATLAB language is used for all simulations. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems)
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25 pages, 7542 KiB  
Article
Active Autonomous Open-Loop Technique for Static and Dynamic Current Balancing of Parallel-Connected Silicon Carbide MOSFETs
by Nektarios Giannopoulos, Georgios Ioannidis, Georgios Vokas and Constantinos Psomopoulos
Energies 2023, 16(22), 7670; https://doi.org/10.3390/en16227670 - 20 Nov 2023
Viewed by 687
Abstract
Silicon carbide (SiC) MOSFETs tend to become one of the main switching elements in power electronics applications of medium- and high-power density. Usually, SiC MOSFETs are connected in parallel to increase power rating. Unfortunately, unequal current sharing between power devices occurs due to [...] Read more.
Silicon carbide (SiC) MOSFETs tend to become one of the main switching elements in power electronics applications of medium- and high-power density. Usually, SiC MOSFETs are connected in parallel to increase power rating. Unfortunately, unequal current sharing between power devices occurs due to mismatches in the technical parameters between devices and the layout of the power circuit. This current imbalance causes different current stress upon power switches, raising concerns about power system reliability. For over a decade, various methods and techniques have been proposed for balancing the currents between parallel-connected SiC MOSFETs. However, most of these methods cannot be implemented unless the deviation between the technical parameters of semiconductor switches is known. This requirement increases the system cost because screening methods are extremely costly and time-consuming. In addition, most techniques aim at suppressing only the transient current imbalance. In this paper, a simple but innovative current balancing technique is proposed, without the need of screening any power device. The proposed technique consists of an open-loop system capable of balancing the currents between two parallel-connected SiC MOSFETs, with the aid of two active gate drivers and an FPGA, actively and independently of the cause. Experimental test results validate that the proposed open-loop method can successfully achieve suppression of current imbalance between parallel-connected SiC MOSFETs, proving its durability and validity level. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems)
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18 pages, 1516 KiB  
Article
Assessment of Co-Gasification Methods for Hydrogen Production from Biomass and Plastic Wastes
by Jonah M. Williams and A. C. (Thanos) Bourtsalas
Energies 2023, 16(22), 7548; https://doi.org/10.3390/en16227548 - 13 Nov 2023
Cited by 2 | Viewed by 1462
Abstract
In recent decades, economic development and population growth has been accompanied by the generation of billions of tonnes of solid residues or municipal “wastes”, a substantial portion of which is composed of plastics and biomass materials. Combustion-based waste-to-energy is a viable and mature [...] Read more.
In recent decades, economic development and population growth has been accompanied by the generation of billions of tonnes of solid residues or municipal “wastes”, a substantial portion of which is composed of plastics and biomass materials. Combustion-based waste-to-energy is a viable and mature method of extracting calorific value from these end-of-life post-recyclable materials that are otherwise landfilled. However, alternative thermochemical methods, such as gasification, are becoming attractive due to the ability to synthesize chemical precursors for supply chain recirculation. Due to the infancy of gasification technology deployment, especially in the context of anthropogenic CO2 emission reduction, additional systems engineering studies are necessary. Herein, we conduct an attributional life cycle analysis to elucidate the syngas production and environmental impacts of advanced thermochemical gasification methods for the treatment of biomass and plastic wastes obtained from municipal solid wastes, using a comprehensive thermodynamic process model constructed in AspenTech. Feedstock composition, process parameters, and gasification methods are varied to study the effects on syngas quality, yield, power generation potential, and overall greenhouse gas emissions. Steam-based gasification presents up to 38% reductions in CO2 emissions when compared to conventional thermochemical methods. Using gasifier-active materials, such as metal hydroxides, can also further reduce CO2 emissions, and realizes a capture load of 1.75 tonnes of CO2 per tonne of plastic/stover feedstock. This design alteration has implications for reductions in CAPEX due to the mode of CO2 capture utilized (e.g., solid sorbent vs. liquid SELEXOL). The use of renewable energy to provide a method to generate steam for this process could make the environmental impact of such MSW gasification processes lower by between 60–75% tonnes of CO2 per tonne of H2. Overall, these results can be used to inform the guidance of advanced waste gasification methods as a low-carbon transition towards a circular economy. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems)
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21 pages, 3159 KiB  
Article
A Comprehensive Multicriteria Evaluation Approach for Alternative Marine Fuels
by Eleni Strantzali, Georgios A. Livanos and Konstantinos Aravossis
Energies 2023, 16(22), 7498; https://doi.org/10.3390/en16227498 - 08 Nov 2023
Cited by 2 | Viewed by 1019
Abstract
In the last decade, shipping decarbonization has accelerated rapidly in response to the regulatory framework. Shifting toward alternative marine fuel options is the subject of extensive study from stakeholders and researchers. This study attempts to propose a decision support model for alternative fuel [...] Read more.
In the last decade, shipping decarbonization has accelerated rapidly in response to the regulatory framework. Shifting toward alternative marine fuel options is the subject of extensive study from stakeholders and researchers. This study attempts to propose a decision support model for alternative fuel evaluation. The decision-making process is multidimensional, comprising economic, technical, environmental, and social aspects, and has been carried out with the aid of the outranking multicriteria methodology, Promethee II. The approach is based on a comprehensive list of 11 criteria and 25 sub-criteria, covering all the crucial aspects. The weighting criteria process postulates the viewpoints of six stakeholder categories, including all the stakeholders’ preferences: shipowners, fuel suppliers, industry and engine manufacturers, academics, banks and the public. The results demonstrated that although LNG, MGO and HFO are classified in the highest positions, there are renewable options that also appear in high-ranking positions in most categories and especially among academics, banks, the public and in the combined case scenario. The commercially available options of drop-in biofuels, bio and e-LNG, fossil and bio methanol were ranked in these high positions. This approach offers insight into the assessment and selection of alternative marine fuel options, providing an incentive for strategic planning. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems)
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18 pages, 2156 KiB  
Article
Environmental-Economic Analysis for Decarbonising Ferries Fleets
by Gerasimos Theotokatos, Panagiotis Karvounis and Georgia Polychronidi
Energies 2023, 16(22), 7466; https://doi.org/10.3390/en16227466 - 07 Nov 2023
Cited by 1 | Viewed by 765
Abstract
Several countries heavily depend on their domestic ferries, the decarbonisation of which are required following the prevailing and forthcoming international and national carbon reduction targets. This study aims to conduct an environmental-economic analysis to identify the impact of three decarbonisation measures, specifically, hybridisation, [...] Read more.
Several countries heavily depend on their domestic ferries, the decarbonisation of which are required following the prevailing and forthcoming international and national carbon reduction targets. This study aims to conduct an environmental-economic analysis to identify the impact of three decarbonisation measures, specifically, hybridisation, liquified natural gas (LNG) and methanol use, for two ferries of different size of a developing country fleet. The study is based on several methodological steps including the selection of key performance indicators (KPIs), the pre-processing of acquired data to identify representative operating profiles, the environmental and economic KPIs calculation, as well as the comparative appraisal of the investigated measures. The required investments for decarbonising the whole domestic fleet of a case country are subsequently estimated and discussed. All the three investigated measures have the potential to reduce CO2 emissions, however, not beyond the IMO 2030 carbon emissions reduction target. This study provides insights to the involved stakeholders for supporting their decisions pertinent to the domestic ferries sector decarbonisation. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems)
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19 pages, 3362 KiB  
Article
Techno-Economic Analysis of Hydrogen–Natural Gas Blended Fuels for 400 MW Combined Cycle Power Plants (CCPPs)
by Ju-Yeol Ryu, Sungho Park, Changhyeong Lee, Seonghyeon Hwang and Jongwoong Lim
Energies 2023, 16(19), 6822; https://doi.org/10.3390/en16196822 - 26 Sep 2023
Cited by 1 | Viewed by 1517
Abstract
Various research and development activities are being conducted to use hydrogen, an environmentally friendly fuel, to achieve carbon neutrality. Using natural gas–hydrogen blends has advantages such as the usage of traditional combined cycle power plant (CCPP) technology and existing natural gas piping infrastructure. [...] Read more.
Various research and development activities are being conducted to use hydrogen, an environmentally friendly fuel, to achieve carbon neutrality. Using natural gas–hydrogen blends has advantages such as the usage of traditional combined cycle power plant (CCPP) technology and existing natural gas piping infrastructure. Therefore, we conducted CCPP process modeling and economic analysis based on natural gas–hydrogen blends. For process analysis, we developed a process model for a 400 MW natural gas CCPP using ASPEN HYSYS and confirmed an error within the 1% range through operation data validation. For economic analysis, we comparatively reviewed the levelized cost of electricity (LCOE) of CCPPs using hydrogen blended up to 0.5 mole fraction. For LCOE sensitivity analysis, we used fuel cost, capital expenditures, capacity factor, and power generation as variables. LCOE is 109.15 KRW/kWh when the hydrogen fuel price is 2000 KRW/kg and the hydrogen mole fraction is increased to 0.5, a 5% increase from the 103.9 KRW/kWh of CCPPs that use only natural gas. Economic feasibility at the level of 100% natural gas CCPPs is possible by reducing capital expenditures (CAPEX) by at least 20%, but net output should be increased by at least 5% (20.47 MW) when considering only performance improvement. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems)
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20 pages, 2484 KiB  
Article
Techno-Economic and Environmental Evaluation of a Solar Energy System on a Ro-Ro Vessel for Sustainability
by Michail Serris, Paraskevi Petrou, Isidoros Iakovidis and Sotiria Dimitrellou
Energies 2023, 16(18), 6523; https://doi.org/10.3390/en16186523 - 10 Sep 2023
Viewed by 1115
Abstract
The increased use of fossil fuels in transportation is considered a major cause of environmental pollution and climate change on a global scale. In international shipping, regulations and strict measures have been introduced by the International Maritime Organization to achieve the goal of [...] Read more.
The increased use of fossil fuels in transportation is considered a major cause of environmental pollution and climate change on a global scale. In international shipping, regulations and strict measures have been introduced by the International Maritime Organization to achieve the goal of a 40% reduction in greenhouse gas (GHG) emissions by 2030, with the envisage to reach net-zero GHG emissions close to 2050. Renewable energy sources, such as solar photovoltaic (PV) systems, can be implemented on new-build or existing marine vessels as an effective alternative source for auxiliary power generation, reducing the dependency on fossil fuels and contributing to decarbonization. In the present paper, a sustainable retrofit design using PV panels on an existing Ro-Ro vessel is analyzed for its feasibility. The proposed system is used for energy production during ship cargo operations and takes advantage of the large space area on the upper deck and its continuous exposure to sunlight during its voyage. To investigate the effectiveness of the PV system as an alternative to fossil fuel consumption, an environmental and economic evaluation is performed. According to the results obtained, the solar PV system can provide approximately 88% of the required energy annually for lighting during ship cargo operations, with the corresponding fuel savings and emission reductions, making the investment economically feasible, with a high potential to contribute to environmental sustainability. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems)
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17 pages, 3722 KiB  
Article
Comparative Techno-Economic Evaluation of a Standalone Solar Power System for Scaled Implementation in Off-Grid Areas
by Muhammad Sadiq, Phimsupha Kokchang and Suthirat Kittipongvises
Energies 2023, 16(17), 6262; https://doi.org/10.3390/en16176262 - 28 Aug 2023
Viewed by 1139
Abstract
The increasing environmental concerns and dependence on fossil fuel-based energy sectors necessitate a shift towards renewable energy. Off-grid communities can particularly benefit from standalone, scaled renewable power plants. This study developed a comprehensive techno-economic framework, analyzed the objective metrics, and assessed the influence [...] Read more.
The increasing environmental concerns and dependence on fossil fuel-based energy sectors necessitate a shift towards renewable energy. Off-grid communities can particularly benefit from standalone, scaled renewable power plants. This study developed a comprehensive techno-economic framework, analyzed the objective metrics, and assessed the influence of economies of scale in solar PV power plants to electrify off-grid communities, taking Baluchistan, Pakistan, as a pilot case. Simulations and analyses were performed using the System Advisor Model (SAM). The results indicate a noteworthy reduction in the levelized cost of energy (LCOE) with increased power generation capacity. It was observed that utilizing bi-facial modules with single-axis tracking leads to a more cost-effective LCOE compared to the relatively expensive dual-axis trackers. The main cost factors identified in the analysis were capital costs, installed balance of plant (BOP), mechanical, and electrical costs. Notably, the disparity between the highest and lowest LCOE values across the six different power generation pathways amounted to approximately 38.5%. The average LCOE was determined to be 2.14 USD/kWh for fixed-mounted plants, 1.79 USD/kWh for single-axis plants, and 1.74 USD/kWh for dual-axis plants across the examined power generation capacity range. The findings can serve as a valuable benchmark, specifically for regional key stakeholders, in making informed investment decisions, formulating effective policies, and devising appropriate strategies for off-grid electrification and the development of renewable energy value chains. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems)
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26 pages, 2227 KiB  
Article
Economic Assessment of Polypropylene Waste (PP) Pyrolysis in Circular Economy and Industrial Symbiosis
by Anastasia Zabaniotou and Ioannis Vaskalis
Energies 2023, 16(2), 593; https://doi.org/10.3390/en16020593 - 04 Jan 2023
Cited by 3 | Viewed by 2685
Abstract
Plastic waste has a high energy content and can be utilized as an energy source. This study aims to assess the economic feasibility of polypropylene plastic waste (PP) pyrolysis. A literature review was carried out to determine the optimal pyrolysis conditions for oil [...] Read more.
Plastic waste has a high energy content and can be utilized as an energy source. This study aims to assess the economic feasibility of polypropylene plastic waste (PP) pyrolysis. A literature review was carried out to determine the optimal pyrolysis conditions for oil production. The preferred pyrolysis temperature ranges from 450 °C to 550 °C, where the oil yields vary from 82 wt.% to 92.3 wt.%. Two scenarios were studied. In the first scenario, pyrolysis gas is used for the pyrolysis heating needs, whereas in the second scenario, natural gas is used. An overview of the economic performance of a pyrolysis plant with a capacity of 200,000 t/year is presented. Based on the results, the plant is economically viable, as it presents high profits and a short payback time for both scenarios considered. Although the annual revenues are smaller in scenario 1, the significant reduction in operating costs makes this scenario preferable. The annual profits amount to 37.3 M€, while the return on investment is 81% and the payback time is 1.16 years. In scenario 2, although the plant is still feasible and shows high profitability, the annual profits are lower by about 1.5 M€, while the payback time is 1.2 years. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems)
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Review

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21 pages, 2198 KiB  
Review
Literature Review of Hydrogen Energy Systems and Renewable Energy Sources
by Grigorios L. Kyriakopoulos and Konstantinos G. Aravossis
Energies 2023, 16(22), 7493; https://doi.org/10.3390/en16227493 - 08 Nov 2023
Cited by 5 | Viewed by 2426
Abstract
The role of hydrogen as a clean energy source is a promising but also a contentious issue. The global energy production is currently characterized by an unprecedented shift to renewable energy sources (RES) and their technologies. However, the local and environmental benefits of [...] Read more.
The role of hydrogen as a clean energy source is a promising but also a contentious issue. The global energy production is currently characterized by an unprecedented shift to renewable energy sources (RES) and their technologies. However, the local and environmental benefits of such RES-based technologies show a wide variety of technological maturity, with a common mismatch to local RES stocks and actual utilization levels of RES exploitation. In this literature review, the collected documents taken from the Scopus database using relevant keywords have been organized in homogeneous clusters, and are accompanied by the registration of the relevant studies in the form of one figure and one table. In the second part of this review, selected representations of typical hydrogen energy system (HES) installations in realistic in-field applications have been developed. Finally, the main concerns, challenges and future prospects of HES against a multi-parametric level of contributing determinants have been critically approached and creatively discussed. In addition, key aspects and considerations of the HES-RES convergence are concluded. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems)
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