Integration of hybrid renewable energy sources with the power system considering their economic complementarity

Abstract

Renewable energy sources play an important role in providing clean energy for future electricity networks. As the penetration level of these resources grows, their integration with the grid will be more challenging. Each renewable energy source has different inherent characteristics that, if appropriately used in the generation mix, could complement each other and create many technical and economic benefits for the power system. Usually, renewable energy resource complementarity studies are carried out with the objectives of smooth effect, reducing the need for storage and load tracking. In this study, the economic complementarity approach is introduced with the help of a Mixed integer nonlinear programming (MINLP) model. This approach can integrate renewable and storage energy sources with the grid and determine the optimal capacity of these resources in complementary used mode. The results show that the proposed method always imposes the system's lowest annual operation and investment costs.