The economic feasibility of solar and storage system in Illinois

Baek, Youngsun; Collingsworth, Jessica; Clemmer, Steve; Gignac, James; Jacobs, Mike; García, Paula Bedregal; Sattler, Sandra

doi:10.1016/j.tej.2019.106689

Cited by 6 publications

(6 citation statements)

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“…The Net Present Cost (NPC), the reliability and transmission benefits, and the increase in capacity revenue for the storage utility scale were determined; it could be important as a reliability solution when coal power plants are retired in the state of Illinois. 20 Furthermore, authors in Ref. [21] analyzed 17 storage expansion studies pertinent to the US, Europe, and Germany, systematizing the storage requirement per Variable Renewable Energy (VRE) share and generation technology revealing that with increasing VRE shares, the Energy Storage System (ESS) power capacity increases linearly and the energy capacity exponentially.…”

Section: Storage Energy Feasibilitymentioning

confidence: 99%

“…Also, HOMER and PowerGEM software were used in Ref. [20] to assess the viability of utility‐scale and behind‐the‐meter storage systems. The Net Present Cost (NPC), the reliability and transmission benefits, and the increase in capacity revenue for the storage utility scale were determined; it could be important as a reliability solution when coal power plants are retired in the state of Illinois 20 …”

Section: Literature Reviewmentioning

confidence: 99%

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Energy storage for photovoltaic power plants: Economic analysis for different ion‐lithium batteries

et al. 2022

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Energy storage has been identified as a strategic solution to the operation management of the electric power system to guarantee the reliability, economic feasibility, and a low carbon footprint. In this sense, this article analyzes the economic feasibility of a storage system using different Li‐ion batteries applied to a real case of the photovoltaic power plant at Alto Rodrigues, Rio Grande do Norte, Brazil. The System Advisor Model software was used to simulate the systems which allowed showing the difference between the revenue obtained from energy sales and the total generation cost. According to the results, the viability of the energy storage system can be achieved in different ways. The first way would be to reduce current investment costs in storage systems. In the second way, the energy sale price is higher than the current sale price. The third and fourth ways are a combination of cost storage reduction and the increase of energy sale price in different annual proportions.

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Section: Storage Energy Feasibilitymentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Energy storage for photovoltaic power plants: Economic analysis for different ion‐lithium batteries

et al. 2022

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“…Timilsina (2021) finds that the benefits of distributed photovoltaics (DPV) system in Bangladesh would be more than 1.5 times in residential and commercial buildings. A study for the Waukegan area of Illinois, Baek et al (2020) find that electricity bill savings from solar PV and energy storage system pay back the investments in 11-12 years, as most homes and businesses in the region could cut their electricity bills by more than half. Park et al (2019) show that the refrigerator electricity consumption can be reduced by about 50% and 70% using commercially available energy-efficient components at an incremental cost of about US$45-US$60 and US$100-US$120 per unit, respectively.…”

Section: Buildings Sectormentioning

confidence: 99%

“…The benefits of DPV to the consumers are more than 1.5 times as high as their costs Baek et al (2020) An hourly load profile simulation is used for solar-plus-storage applications for three types of buildings: secondary school, supermarket, and a typical singlefamily home in Waukegan, Illinois.…”

Section: Mcandrew Et Al (2021)mentioning

confidence: 99%

Do Investments in Clean Technologies Reduce Production Costs? Insights from the Literature

Timilsina¹,

Malla²

2021

Policy Research Working Papers

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The Policy Research Working Paper Series disseminates the findings of work in progress to encourage the exchange of ideas about development issues. An objective of the series is to get the findings out quickly, even if the presentations are less than fully polished. The papers carry the names of the authors and should be cited accordingly. The findings, interpretations, and conclusions expressed in this paper are entirely those of the authors. They do not necessarily represent the views of the International Bank for Reconstruction and Development/World Bank and its affiliated organizations, or those of the Executive Directors of the World Bank or the governments they represent.

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“…So many authors have also worked on the techno-economic feasibility of off-grid HPS [2]- [4], [10], [14]- [22] and grid-connected HPS [22]- [28]. The most common areas are solar photovoltaic (PV)-Wind HPS, PV-Diesel (DG) HPS, Wind-PV-DG HPS and PV-Wind-Biomass HPS [20], [25]. Very few authors worked on small hydropower (SHP)-based hybrid combinations [2].…”

Section: Introductionmentioning

confidence: 99%

Comparative study of off-grid and grid-connected hybrid power system: issues, future prospects and policy framework

Adebanji

Atoki

Fasina

et al. 2021

IJEECS

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A sustainable energy system is of utmost importance for any significant development in any nation.This work identified some obstacles inhibiting rapid renewable energy growth in Nigeria and recommended some policy measures in overcoming them. Moreover, a comparative study of off-grid (OG) and grid-connected (GC) small hydro-solar photovoltaic-diesel hybrid system was carried out using Oyan river, Abeokuta, Nigeria as a case study. The hybrid components were modeled with and without the grid. The hydro solar resources data of the area were collected and analyzed using hybrid optimization model for electric renewable (HOMER) software. The simulation results proved that the GC hybrid power system is better than the OG hybrid power system in technical and economic terms depending on the location. This paper, therefore, proposed the use of OG hybrid power system for electrification of distant villages especially where extending the grid seems infeasible and the use of GC hybrid power system in the urban areas. The work will assist power sector stakeholders in making informed decisions towards the growth of hybrid power system technology in Nigeria.

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The economic feasibility of solar and storage system in Illinois

Cited by 6 publications

References 1 publication

Energy storage for photovoltaic power plants: Economic analysis for different ion‐lithium batteries

Energy storage for photovoltaic power plants: Economic analysis for different ion‐lithium batteries

Do Investments in Clean Technologies Reduce Production Costs? Insights from the Literature

Comparative study of off-grid and grid-connected hybrid power system: issues, future prospects and policy framework

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