Modeling and Economic Operation of Energy Hub Considering Energy Market Price and Demand
This paper discusses the economic operation strategy of the energy hub, which is being established in South Korea. The energy hub has five energy conversion devices: a turbo expander generator, a normal fuel cell, a fuel cell with a hydrogen outlet, a small-scale combined heat and power device, and...
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| Veröffentlicht in: | Sustainability 2022-02, Vol.14 (4), p.2004 |
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| creator | Kang, Il-oh You, Hyunseok Choi, Kyungshik Jeon, Sung-kook Lee, Jaehee Lee, Dongho |
| description | This paper discusses the economic operation strategy of the energy hub, which is being established in South Korea. The energy hub has five energy conversion devices: a turbo expander generator, a normal fuel cell, a fuel cell with a hydrogen outlet, a small-scale combined heat and power device, and a photovoltaic device. We are developing the most economically beneficial operation strategy for the operators who own the hub, without making any systematic improvements to the energy market. First, sixteen conversion efficiency matrices can be achieved by turning each device (except the PV) on or off. Next, even the same energy must be divided into different energy flows according to price. The energy flow is controlled to obtain the maximum profit, considering the internal load of the energy hub and the price fluctuations of the energy market. Using our operating strategy, the return on investment period is approximately 9.9 years, which is three years shorter than that without the operating strategy. |
| doi_str_mv | 10.3390/su14042004 |
| format | Article |
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Using our operating strategy, the return on investment period is approximately 9.9 years, which is three years shorter than that without the operating strategy.</description><identifier>ISSN: 2071-1050</identifier><identifier>EISSN: 2071-1050</identifier><identifier>DOI: 10.3390/su14042004</identifier><language>eng</language><publisher>Basel: MDPI AG</publisher><subject>Alternative energy sources ; Cogeneration ; Efficiency ; Electricity ; Electricity distribution ; Energy conversion ; Energy flow ; Energy resources ; Fuel cells ; Fuel technology ; Gases ; Hydrogen ; Natural gas prices ; Photovoltaics ; R&D ; Renewable resources ; Research & development ; Return on investment ; Sustainability</subject><ispartof>Sustainability, 2022-02, Vol.14 (4), p.2004</ispartof><rights>2022 by the authors. Licensee MDPI, Basel, Switzerland. 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| source | MDPI - Multidisciplinary Digital Publishing Institute; Elektronische Zeitschriftenbibliothek - Frei zugängliche E-Journals |
| subjects | Alternative energy sources Cogeneration Efficiency Electricity Electricity distribution Energy conversion Energy flow Energy resources Fuel cells Fuel technology Gases Hydrogen Natural gas prices Photovoltaics R&D Renewable resources Research & development Return on investment Sustainability |
| title | Modeling and Economic Operation of Energy Hub Considering Energy Market Price and Demand |
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