Comparative techno-economic analysis of power system with and without renewable energy sources

Abstract

The primary aim of this work is to feature the advantages of integrating natural source of energy from the solar and wind to the prevailing electric power systems. Two types of analysis are carried out in two test systems (standard and modified test systems) and the outcome of the test systems are compared. The two analyses are technical analysis and economic analysis. The stability of the voltage is analyzed under technical analysis and the price of energy consumed from the electric grid is calculated and analyzed under the economic analysis. Dynamic hourly load data, hourly solar radiation, hourly wind velocity, and dynamic electricity prices are considered for the standard IEEE system and modified test system (with the integration of RES). Voltage stability index (L-Index) and price of the electricity consumed from electric grid are found for standard test system and the outcome is compared with the outcome of modified test systems. MATLAB coding is done for techno-economic analysis for both test systems. It is inferred from the outcome that the integration of renewable energy sources fairly contributes to the economic benefit of the system by lowering the power purchased from the grid and enhance the stability of the system.