A techno-economic analysis of excess wind electricity powered adiabatic compressed air energy storage (A-CAES) and biomass gasification energy storage (BGES) for electricity generation is implemented to determine the performance of the system and the potential profitability of developing such a facility for distributed power generation in the UK by an investor, given the customer's demand for heat and electricity. The customers are considered to be about 1600 households in the Humber region, UK, who use heat generally for space heating and domestic hot water applications. The system is modelled using a developed Matlab computer code and its performance evaluated using total system efficiency (TSE), net present value (NPV) and cost of electricity (COE) as metrics. TSE of 36.8% is obtained for the system while the COE is found to be about £0.19 per kW h. In terms of profitability, the system returned a negative NPV of £2144062 signalling the non-profitability of the system in the proposed location. However, if 70% of total investment cost (TIC) of the system is provided for by means of a subsidy, the system becomes economically viable with positive NPV of £132475 and COE of £0.10 per kW h respectively. The sensitivity study shows that the most significant factors swaying the NPV of the A-CAES-BMGES are TIC, O&M cost, excess wind electricity cost, electricity tariff and cost of diesel fuel.
|Number of pages||19|
|Early online date||14 Jun 2018|
|Publication status||Early online date - 14 Jun 2018|
ASJC Scopus subject areas
- Chemical Engineering(all)