IDEAS home Printed from https://ideas.repec.org/a/bjz/ajisjr/2562.html
   My bibliography  Save this article

High Stress Economic Scenario on Renewable Energy Integration with Genetic-Firework Hybrid Algorithm

Author

Listed:
  • Nicolas Lopez Ramos
  • Altin Hoti
  • Takeaki Toma

Abstract

This work models a hard economic scenario in which inflation rate is set to 7%, the price of diesel is increasing, the price of electricity purchased from the power grid is inflated and there is a top limit for daily purchasable electricity on a region, in which there is an attempt to introduce renewable energy on a private property of the size of a residential house of 5 people. The optimal microgrid configuration is approximated by the new Hybrid Genetic-Fireworks Algorithm working in conjunction with a Monte Carlo simulation to find the annual worth, and comparing results with a Genetic Algorithm and a Fireworks Algorithm. The components considered are: solar panels, wind turbines, diesel generators, electric batteries, converters, and a connection to the power grid. The objective is to maximize annual worth. The results show that a cost of energy (COE) of 2.0603 USD per kWh is achievable in such scenario, and recommends the further use of the Hybrid Genetic-Fireworks Algorithm for this type or Renewable Energy Integration studies, as it outperformed their 2 counterparts in this work.

Suggested Citation

  • Nicolas Lopez Ramos & Altin Hoti & Takeaki Toma, 2024. "High Stress Economic Scenario on Renewable Energy Integration with Genetic-Firework Hybrid Algorithm," Academic Journal of Interdisciplinary Studies, Richtmann Publishing Ltd, vol. 13, March.
    • Handle: RePEc:bjz:ajisjr:2562
    DOI: https://doi.org/10.36941/ajis-2024-0051
    as

    Download full text from publisher

    File URL: https://www.richtmann.org/journal/index.php/ajis/article/view/13709
    Download Restriction: no
    File URL: https://www.richtmann.org/journal/index.php/ajis/article/view/13709/13267
    Download Restriction: no
    File URL: https://libkey.io/https://doi.org/10.36941/ajis-2024-0051?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Mayer, Martin János & Szilágyi, Artúr & Gróf, Gyula, 2020. "Environmental and economic multi-objective optimization of a household level hybrid renewable energy system by genetic algorithm," Applied Energy, Elsevier, vol. 269(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Rohács, Dániel, 2023. "Analysis and optimization of potential energy sources for residential building application," Energy, Elsevier, vol. 275(C).
    2. Benedek Kiss & Jose Dinis Silvestre & Rita Andrade Santos & Zsuzsa Szalay, 2021. "Environmental and Economic Optimisation of Buildings in Portugal and Hungary," Sustainability, MDPI, vol. 13(24), pages 1-19, December.
    3. He, Zhaoyu & Guo, Weimin & Zhang, Peng, 2022. "Performance prediction, optimal design and operational control of thermal energy storage using artificial intelligence methods," Renewable and Sustainable Energy Reviews, Elsevier, vol. 156(C).
    4. Fonseca, Juan D. & Commenge, Jean-Marc & Camargo, Mauricio & Falk, Laurent & Gil, Iván D., 2021. "Sustainability analysis for the design of distributed energy systems: A multi-objective optimization approach," Applied Energy, Elsevier, vol. 290(C).
    5. Zulqurnain Sabir & Adnène Arbi & Atef F. Hashem & Mohamed A Abdelkawy, 2023. "Morlet Wavelet Neural Network Investigations to Present the Numerical Investigations of the Prediction Differential Model," Mathematics, MDPI, vol. 11(21), pages 1-20, October.
    6. Piotr Kułyk & Łukasz Augustowski, 2021. "Economic Profitability of a Hybrid Approach to Powering Residual Households from Natural Sources in Two Wind Zones of the Lubuskie Voivodeship in Poland," Energies, MDPI, vol. 14(21), pages 1-15, October.
    7. Singh, Pushpendra & Meena, Nand K. & Yang, Jin & Vega-Fuentes, Eduardo & Bishnoi, Shree Krishna, 2020. "Multi-criteria decision making monarch butterfly optimization for optimal distributed energy resources mix in distribution networks," Applied Energy, Elsevier, vol. 278(C).
    8. Hani Al-Rawashdeh & Omar Ali Al-Khashman & Jehad T. Al Bdour & Mohamed R. Gomaa & Hegazy Rezk & Abdullah Marashli & Laith M. Arrfou & Mohamed Louzazni, 2023. "Performance Analysis of a Hybrid Renewable-Energy System for Green Buildings to Improve Efficiency and Reduce GHG Emissions with Multiple Scenarios," Sustainability, MDPI, vol. 15(9), pages 1-32, May.
    9. Esmeralda López-Garza & René Fernando Domínguez-Cruz & Fernando Martell-Chávez & Iván Salgado-Tránsito, 2022. "Fuzzy Logic and Linear Programming-Based Power Grid-Enhanced Economical Dispatch for Sustainable and Stable Grid Operation in Eastern Mexico," Energies, MDPI, vol. 15(11), pages 1-18, June.
    10. Jiang, Jianhua & Zhou, Renjie & Xu, Hao & Wang, Hao & Wu, Ping & Wang, Zhuo & Li, Jian, 2022. "Optimal sizing, operation strategy and case study of a grid-connected solid oxide fuel cell microgrid," Applied Energy, Elsevier, vol. 307(C).
    11. Fares, Dalila & Fathi, Mohamed & Mekhilef, Saad, 2022. "Performance evaluation of metaheuristic techniques for optimal sizing of a stand-alone hybrid PV/wind/battery system," Applied Energy, Elsevier, vol. 305(C).
    12. Morteza Nazari-Heris & Atefeh Tamaskani Esfehankalateh & Pouya Ifaei, 2023. "Hybrid Energy Systems for Buildings: A Techno-Economic-Enviro Systematic Review," Energies, MDPI, vol. 16(12), pages 1-15, June.
    13. Galimshina, Alina & Moustapha, Maliki & Hollberg, Alexander & Padey, Pierryves & Lasvaux, Sébastien & Sudret, Bruno & Habert, Guillaume, 2022. "Bio-based materials as a robust solution for building renovation: A case study," Applied Energy, Elsevier, vol. 316(C).
    14. José Luis Torres-Madroñero & Joham Alvarez-Montoya & Daniel Restrepo-Montoya & Jorge Mario Tamayo-Avendaño & César Nieto-Londoño & Julián Sierra-Pérez, 2020. "Technological and Operational Aspects That Limit Small Wind Turbines Performance," Energies, MDPI, vol. 13(22), pages 1-39, November.
    15. Thebelt, Alexander & Tsay, Calvin & Lee, Robert M. & Sudermann-Merx, Nathan & Walz, David & Tranter, Tom & Misener, Ruth, 2022. "Multi-objective constrained optimization for energy applications via tree ensembles," Applied Energy, Elsevier, vol. 306(PB).
    16. Jia Wu & Na Wu & Qiang Feng & Chenning Deng & Xiaomin Zhang & Zeqiang Fu & Zeqian Zhang & Haisheng Li, 2023. "Design and Optimization of a Coal Substitution Path Based on Cost–Benefit Analysis: Evidence from Coal Resource-Based Cities in China," Sustainability, MDPI, vol. 15(21), pages 1-14, October.
    17. Ritu Kandari & Neeraj Neeraj & Alexander Micallef, 2022. "Review on Recent Strategies for Integrating Energy Storage Systems in Microgrids," Energies, MDPI, vol. 16(1), pages 1-24, December.
    18. Hye-Rim Kim & Tong-Seop Kim, 2021. "Optimization of Sizing and Operation Strategy of Distributed Generation System Based on a Gas Turbine and Renewable Energy," Energies, MDPI, vol. 14(24), pages 1-28, December.
    19. Brodnicke, Linda & Gabrielli, Paolo & Sansavini, Giovanni, 2023. "Impact of policies on residential multi-energy systems for consumers and prosumers," Applied Energy, Elsevier, vol. 344(C).
    20. Wang, Chen & Guo, Su & Pei, Huanjin & He, Yi & Liu, Deyou & Li, Mengying, 2023. "Rolling optimization based on holism for the operation strategy of solar tower power plant," Applied Energy, Elsevier, vol. 331(C).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bjz:ajisjr:2562. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Richtmann Publishing Ltd (email available below). General contact details of provider: https://www.richtmann.org/journal/index.php/ajis .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.