A Hybrid Approach to On-Grid and Off-Grid Solar Energy with Optimum Investment: A Case Study in Vietnam
Keywords:
Solar energy, On-Grid&Off-Grid, Investment strategy, Vietnam electricity, Real-time/Online optimizationAbstract
Vietnam’s demand for energy has grown significantly due to the country’s economy’s fast development and expansion over the last ten years. The majority of energy in the future will have to come from renewable sources due to the issue of greenhouse gas emissions, which will force a significant transition away from fossil fuels as the primary energy source. In the Power Development Plan VIII with a vision to 2050, Vietnam’s power sector has labored to develop new resources such as solar and wind energies in an effort to build and enhance the nation’s power system. A technical and financial model for the construction of a hybrid grid-connected photovoltaic plant with a battery energy storage system under practical optimization problems is presented in this work. Certain business models link the analysis to hourly irradiation by taking into account the hourly energy demand profile for planned working activities. The suggested hybrid system’s investment, needed power, and capacity are evaluated and optimized using a variety of scenarios. These findings demonstrate the system’s economic viability and technological viability in our suggested approaches.
References
[1] Le TH, Han P, Le HC, Bui MT. Electricity market development in Vietnam: Historical trends and future outlooks. Utilities Policy. 2023 Apr 1;81:101510.
[2] Tuan NA. A case study on power sector restructuring in Vietnam. Pacific energy summit. 2012 Feb 13.
[3] Hoffmann C. A power development planning for Vietnam under the CO2 emission reduction targets. Energy Reports. 2020 Feb 1;6:19-24.
[4] Nguyen XP, Le ND, Pham VV, Huynh TT, Dong VH, Hoang AT. Mission, challenges, and prospects of renewable energy development in Vietnam. Energy Sources, Part A: Recovery, Utilization, and Environmental Effects. 2021 Aug;17:1-3.
[5] Hoi HT. Potential for solar energy development in Vietnam. International Journal of Environmental Science and Development. 2020 Jul;11(7):358-64.
[6] Nguyen PA, Abbott M, Nguyen TL. The development and cost of renewable energy resources in Vietnam. Utilities Policy. 2019 Apr 1;57:59-66.
[7] Riva Sanseverino E, Le Thi Thuy H, Pham MH, Di Silvestre ML, Nguyen Quang N, Favuzza S. Review of potential and actual penetration of solar power in Vietnam. Energies. 2020 May 16;13(10):2529.
[8] Wang CN, Viet VT, Ho TP, Nguyen VT, Husain ST. Optimal site selection for a solar power plant in the Mekong delta region of Vietnam. Energies. 2020 Aug 6;13(16):4066.
[9] Divya KC, Østergaard J. Battery energy storage technology for power systems—An overview. Electric power systems research. 2009 Apr 1;79(4):511-20.
[10] Yang Y, Bremner S, Menictas C, Kay M. Battery energy storage system size determination in renewable energy systems: A review. Renewable and Sustainable Energy Reviews. 2018 Aug 1;91:109-25.
[11] Bortolini M, Gamberi M, Graziani A. Technical and economic design of photovoltaic and battery energy storage system. Energy Conversion and Management. 2014 Oct 1;86:81-92.
[12] Nguyen VH, Vo CV, Nguyen LD, Phan BT. Green Scenarios for Power Generation in Vietnam by 2030. Engineering, Technology & Applied Science Research. 2020 Jul;2019 Apr 1;9(2).
[13] Vu TT, Teyssèdre G, Le Roy S, Anh TT, Tran TS, Nguyen XT, Nguyen QV. The challenges and opportunities for the power transmission grid of Vietnam. European Journal of Electrical Engineering. 2019 Dec 21;21(6):489-97.
[14] Nguyen KH, Vu NH,Nguyen XT. The Status and Potential Assessment of Solar Power Energy Development in Vietnam. International Journal of Energy and Power Engineering. 2020;9(5):69.
[15] Dincer I. Renewable energy and sustainable development: a crucial review. Renewable and sustainable energy reviews. 2000 Jun 1;4(2):157-75.
[16] Moriarty P, Honnery D. What is the global potential for renewable energy?. Renewable and Sustainable Energy Reviews. 2012 Jan 1;16(1):244-52.
[17] Lund H. Renewable energy strategies for sustainable development. Energy. 2007 Jun 1;32(6):912-9.
[18] Kannan N, Vakeesan D. Solar energy for future world:-A review. Renewable and sustainable energy reviews. 2016 Sep 1;62:1092-105.
[19] Mekhilef S, Saidur R, Safari A. A review on solar energy use in industries. Renewable and sustainable energy reviews. 2011 May 1;15(4):1777-90.
[20] Kabir E, Kumar P, Kumar S, Adelodun AA, Kim KH. Solar energy: Potential and future prospects. Renewable and Sustainable Energy Reviews. 2018 Feb 1;82:894-900.
[21] Okoro OI, Madueme TC. Solar energy investments in a developing economy. Renewable Energy. 2004 Jul 1;29(9):1599-610.
[22] Dupont E, Koppelaar R, Jeanmart H. Global available solar energy under physical and energy return on investment constraints. Applied Energy. 2020 Jan 1;257:113968.
[23] Okoro OI, Madueme TC. Solar energy: a necessary investment in a developing economy. International Journal of Sustainable Energy. 2006 Mar 1;25(01):23-31.
[24] Hannan MA, Wali SB, Ker PJ, Abd Rahman MS, Mansor M, Ramachandaramurthy VK, Muttaqi KM, Mahlia TM, Dong ZY. Battery energy-storage system: A review of technologies, optimization objectives, constraints, approaches, and outstanding issues. Journal of Energy Storage. 2021 Oct 1;42:103023.
[25] Padmanabhan N, Ahmed M, Bhattacharya K. Battery energy storage systems in energy and reserve markets. IEEE Transactions on Power Systems. 2019 Aug 19;35(1):215-26.
[26] Yang Y, Bremner S, Menictas C, Kay M. Modelling and optimal energy management for battery energy storage systems in renewable energy systems: A review. Renewable and Sustainable Energy Reviews. 2022 Oct 1;167:112671.
[27] Nair NK, Garimella N. Battery energy storage systems: Assessment for small-scale renewable energy integration. Energy and Buildings. 2010 Nov 1;42(11):2124-30.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Long D. Nguyen, Phan Le Tuan Tu, Tran Minh Tri, Nguyen Kim Hoang Nam
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
This is an open access article distributed under the terms of the CC BY-NC-SA 4.0, which permits copying, redistributing, remixing, transformation, and building upon the material in any medium so long as the original work is properly cited.
