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Techno-Economic Analysis and Optimization for Energy Systems: 2nd Edition on the Way to Green Transition

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

Deadline for manuscript submissions: 31 December 2024 | Viewed by 2374

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
  • Energy supply chain
  • Green technologies
  • Energy transition and Innovation
  • Energy policy and management
  • Enterpreunership in transforming energy systems

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 (2 papers)

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Research

21 pages, 1904 KiB  
Article
Evaluating Microgrid Investments: Introducing the MPIR Index for Economic and Environmental Synergy
by Agis M. Papadopoulos and Maria Symeonidou
Energies 2024, 17(19), 4997; https://doi.org/10.3390/en17194997 - 8 Oct 2024
Viewed by 579
Abstract
In view of the increasing environmental challenges and the growing demand for sustainable energy solutions, the optimization of microgrid systems with regard to economic efficiency and environmental compatibility is becoming ever more important. This paper presents the Microgrid Performance and Investment Rating (MPIR) [...] Read more.
In view of the increasing environmental challenges and the growing demand for sustainable energy solutions, the optimization of microgrid systems with regard to economic efficiency and environmental compatibility is becoming ever more important. This paper presents the Microgrid Performance and Investment Rating (MPIR) index, a novel assessment framework developed to link economic and environmental objectives within microgrid configurations. The MPIR index evaluates microgrid configurations based on five critical dimensions: financial viability, sustainability, regional renewable integration readiness, energy demand, and community engagement, facilitating comprehensive and balanced decision making. The current cases focus on the area of Greece; however, the model can have a wider application. Developed using a two-target optimization model, this index integrates various energy sources—including photovoltaics, micro-wind turbines, and different types of batteries—with advanced energy management strategies to assess and improve microgrid performance. This paper presents case studies in which the MPIR index is applied to different microgrid scenarios. It demonstrates its effectiveness in identifying optimal configurations that reduce the carbon footprint while maximizing economic returns. The MPIR index provides a quantifiable, scalable tool for stakeholders, not only advancing the field of microgrid optimization, but also aligning with global sustainability goals and promoting the transition to a more resilient and sustainable energy future. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems: 2nd Edition on the Way to Green Transition)
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20 pages, 3781 KiB  
Article
Techno-Economic Analysis of Green Hydrogen Production as Maritime Fuel from Wave Energy
by Zimasa Macingwane and Alessandro Schönborn
Energies 2024, 17(18), 4683; https://doi.org/10.3390/en17184683 - 20 Sep 2024
Viewed by 1180
Abstract
The study examined the potential changing roles of ports in terms of diversifying their revenue through the expansion of new markets in the Port of Ngqura. This is by means of the production and sales of renewable hydrogen as marine fuel produced from [...] Read more.
The study examined the potential changing roles of ports in terms of diversifying their revenue through the expansion of new markets in the Port of Ngqura. This is by means of the production and sales of renewable hydrogen as marine fuel produced from a wavefarm in Nelson Mandela Bay. A key objective of the study was to conduct a comprehensive techno-economic analysis of the feasible hydrogen production technologies based on the analysis performed, including alkaline electrolysis of seawater and renewable-powered electrolysis of seawater. The produced hydrogen aligns with global decarbonisation of ships and ports and will be used to supply the port with electricity, serve to refuel tugboats, and provide green hydrogen bunkering fuel for commercial shipping vessels. The Port of Ngqura is geographically well positioned to lead the production of zero carbon shipping fuel. This work considers the CAPEX and OPEX of a hydrogen plant using electrolysers and evaluates the current cost of production and selling price of hydrogen. The primary aim of this study was to examine the feasibility of hydrogen production through electrolysis of seawater at the Port of Ngqura. Through assessing resource and technological options, determining advantageous economic assumptions, and identifying existing limitations and potential opportunities, a feasibility study was conducted with special consideration of the site characteristics of Ngqura. The output of this study is a model that simulates the production, storage, and transportation of hydrogen gas from the Port of Ngqura, which was further used to analyse different case study scenarios. This approach directly addresses the main goal of the study. The results found showed that with wave energy convertors in a row of three next to each other, the energy produced by the wave farm was 2.973 TJ per month, which is equivalent to 18.58 tons of produced hydrogen when considering the lower heating value of hydrogen and assuming that hydrogen production efficiency is 75%. The anticipated hydrogen fuel will be able to refuel a tugboat with green hydrogen from the energy produced by the wave farm each month. It is predicted that the price of hydrogen is expected to drop, and the price of fossil fuel will gradually increase in the coming years. The fact that coal electricity can be produced on demand and wind and solar energy are weather dependent as a result lacks the ability to achieve a constant supply. There is currently an urgent need for energy storage and the efforts to study the production of hydrogen and ammonia. Hydrogen is still predicted to be more expensive than coal electricity; however, from this, maybe a critical cost for a kg of CO2 could be calculated, which could make hydrogen competitive. The cost of green hydrogen production from wave energy in the Port of Ngqura was calculated as R96.07/kg (4.88 EUR/kg) of produced hydrogen, which is equivalent to 2.1 times the cost of the same energy supplied as Marine Diesel Oil (MDO) at current prices. Hydrogen from wave energy would thus become competitive with MDO; if a price is set for the emission of CO2, this may also offset the difference in cost between MDO and hydrogen from wave energy. The carbon price necessary to make green hydrogen competitive would be approximately R6257/tonne CO2, or 318 EUR/tonne CO2, which is around 4.5 times the current trading price of carbon in the EU Emissions Trading Scheme. Full article
(This article belongs to the Special Issue Techno-Economic Analysis and Optimization for Energy Systems: 2nd Edition on the Way to Green Transition)
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