An Economic Examination of Solar Energy with Storage based Supply Options: Solar PV-Battery and CSP with Thermal-Storage
Arun Kumar V1, Ashu Verma2, Lavleen Singal3
1Arun Kumar V, Centre for Energy Studies, Indian Institute of Technology Delhi, India.
2Ashu Verma, Centre for Energy Studies, Indian Institute of Technology Delhi, India.
3Lavleen Singal, Acira Solar Pvt. Ltd., Gurugram, India.
Manuscript received on 28 September 2019 | Revised Manuscript received on 10 November 2019 | Manuscript Published on 22 November 2019 | PP: 740-748 | Volume-8 Issue-6S3 September 2019 | Retrieval Number: F11370986S319/19©BEIESP | DOI: 10.35940/ijeat.F1137.0986S319
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Abstract: Renewable energy is being promoted amidst rising environmental concerns associated with fossil-fuel usage for power generation. The stock of such fuels is also limited and is fast depleting. Renewable energy sources such as solar photovoltaic (PV) systems present a clean alternative that has become cost-competitive with conventional thermal power generation systems. However, to counter the intermittent nature of solar power and ensure firm power supply, energy storage is essential. This paper presents a comparative analysis of power supply options based on two solar energy technologies – PV and concentrated solar power (CSP). Energy storage in the form of battery and thermal energy respectively has been included and different combinations of supply options, along with utility grid, have been analyzed in terms of the levelized cost of electricity (LCOE). The LCOE values for supplying a particular substation load in India have been compared and it was found that CSP with thermal energy storage emerged to be the economically viable option for supplying the load.
Keywords: Energy Storage, Hybridized System, LCOE. Solar Energy, Thermal Storage, Utility Grid.
Scope of the Article: Thermal Engineering