Development of a distributed generation management system for smart grids
This paper explores the development of a distributed generation management system. A modified levelized cost of energy (LCOE) model is used to calculate the economic returns for a variety of photovoltaic investment. In recent years, there is a significant growth in demand for solar photovoltaic (PV)...
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| Format: | Final Year Project |
| Language: | English |
| Published: |
2014
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/60857 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | This paper explores the development of a distributed generation management system. A modified levelized cost of energy (LCOE) model is used to calculate the economic returns for a variety of photovoltaic investment. In recent years, there is a significant growth in demand for solar photovoltaic (PV) systems and have emerged as a viable renewable energy power generation.
Cost of energy is determined by different factors such as project start-up cost, financing, incentives, etc. The LCOE equation allows comparison with other electricity generation technologies and power grid based on different scales of investment cost, period and operation. LCOE aims to justify the PV project investment and maintenance costs, with the ability to influence policy mandates or make invest decisions.
The project includes steps taken to calculate the energy harvested in a particular area, both the real time value and forecasted value. The results vary based on the type of PV selected and LCOE as the output. The test is conducted with real time data and formulas obtained from research papers. National Instruments LabView is used to demonstrate the process in a systematic way. |
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