The Effect of Economic Conditions on Optimal Sizing and Feasibility of Hybrid Power System

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dc.authorscopusid57796709200en_US
dc.authorscopusid57250837500en_US
dc.authorscopusid57466888500en_US
dc.authorscopusid35103037800en_US
dc.authorscopusid6603029128en_US
dc.authorscopusid57818691400en_US
dc.contributor.authorTerkes, M.
dc.contributor.authorDemirci, A.
dc.contributor.authorOzturk, Z.
dc.contributor.authorOzturk, A.
dc.contributor.authorTosun, S.
dc.contributor.authorAndic, C.
dc.date.accessioned2024-08-23T16:07:33Z
dc.date.available2024-08-23T16:07:33Z
dc.date.issued2023en_US
dc.departmentDüzce Üniversitesien_US
dc.description14th International Conference on Electrical and Electronics Engineering, ELECO 2023 -- 30 November 2023 through 2 December 2023 -- Virtual, Bursa -- 197135en_US
dc.description.abstractClean energy-focused hybrid power systems (HPS) can help countries with their sustainable development plans. Optimal sizing of HPS depending on the varying countries' economic conditions in a reliable and robust strategy can reduce investment risks. This study performed optimal PV-DG-ESS based HPS sizing and feasibility analyses for Antalya, considering Türkiye's last ten years' interest and inflation rates, energy purchase costs, diesel costs, HPS investment, and operating costs. Moreover, the scope of the study is extended by sensitivity analyses on solar radiation, interest, and inflation. The results show that the proposed optimal HPS can reduce electricity purchase costs by up to $143.8 thousand/year and increase the renewable fraction by up to 74%, considering the current economic and climatic conditions. According to the sensitivity analysis, the grid was preferred in scenarios where solar radiation was lower than 5.5 kWh/m2/day. The research revealed the impact of economic conditions on HPS and is expected to guide investors and policymakers. © 2023 IEEE.en_US
dc.identifier.doi10.1109/ELECO60389.2023.10415979
dc.identifier.isbn979-835036049-3en_US
dc.identifier.scopus2-s2.0-85185824029en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.urihttps://doi.org/10.1109/ELECO60389.2023.10415979
dc.identifier.urihttps://hdl.handle.net/20.500.12684/14729
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherInstitute of Electrical and Electronics Engineers Inc.en_US
dc.relation.ispartof14th International Conference on Electrical and Electronics Engineering, ELECO 2023 - Proceedingsen_US
dc.relation.publicationcategoryKonferans Öğesi - Uluslararası - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectdiesel fuel priceen_US
dc.subjectElectric vehicleen_US
dc.subjectgrid tariffen_US
dc.subjectHPS capital costen_US
dc.subjectoptimizationen_US
dc.subjectCost benefit analysisen_US
dc.subjectDiesel enginesen_US
dc.subjectEconomic analysisen_US
dc.subjectEconomic and social effectsen_US
dc.subjectInvestmentsen_US
dc.subjectOperating costsen_US
dc.subjectSensitivity analysisen_US
dc.subjectDiesel fuel priceen_US
dc.subjectEconomic conditionen_US
dc.subjectFuel pricesen_US
dc.subjectGrid tariffen_US
dc.subjectHybrid poweren_US
dc.subjectHybrid power system capital costen_US
dc.subjectOptimal sizingen_US
dc.subjectOptimisationsen_US
dc.subjectPurchase costen_US
dc.subjectSystem capital costsen_US
dc.subjectSolar radiationen_US
dc.titleThe Effect of Economic Conditions on Optimal Sizing and Feasibility of Hybrid Power Systemen_US
dc.typeConference Objecten_US

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