Abstract: Run-of-river (RoR) hydropower projects represent a viable, clean, and cost-effective alternative to dam-based plants and provide decentralized power production. However, RoR schemes’ cost-effectiveness depends on the proper selection of site and design flow, which is a challenging task because it requires multivariate analysis. In this respect, this study presents the development of an investment decision support tool for assessing the optimal size of an RoR scheme considering the technical, environmental, and cost constraints. The net present value (NPV) from a project perspective is used as an objective function for supporting the investment decision. The tool has been tested by applying it to an actual RoR project recently proposed in Colombia. The obtained results show that the optimum point in financial terms does not match the flow that maximizes energy generation from exploiting the river's available flow. For the case study, the flow that maximizes energy corresponds to a value of 5.1 m3/s. In comparison, an amount of 2.1 m3/s maximizes the investors NPV. Finally, a sensitivity analysis is performed to determine the NPV as a function of the debt rate changes and the electricity prices and the CapEx. Even for the worst-case scenario, the optimal size represents a positive business case with an NPV of 2.2 USD million and an internal rate of return (IRR) 1.5 times higher than the discount rate.
Abstract: Electricity markets throughout the world have
undergone substantial changes. Accurate, reliable, clear and
comprehensible modeling and forecasting of different variables
(loads and prices in the first instance) have achieved increasing
importance. In this paper, we describe the actual state of the
art focusing on reg-SARMA methods, which have proven to be
flexible enough to accommodate the electricity price/load behavior
satisfactory. More specifically, we will discuss: 1) The dichotomy
between point and interval forecasts; 2) The difficult choice between
stochastic (e.g. climatic variation) and non-deterministic predictors
(e.g. calendar variables); 3) The confrontation between modelling
a single aggregate time series or creating separated and potentially
different models of sub-series. The noteworthy point that we would
like to make it emerge is that prices and loads require different
approaches that appear irreconcilable even though must be made
reconcilable for the interests and activities of energy companies.
Abstract: Electricity prices have sophisticated features such as
high volatility, nonlinearity and high frequency that make forecasting
quite difficult. Electricity price has a volatile and non-random
character so that, it is possible to identify the patterns based on the
historical data. Intelligent decision-making requires accurate price
forecasting for market traders, retailers, and generation companies.
So far, many shallow-ANN (artificial neural networks) models have
been published in the literature and showed adequate forecasting
results. During the last years, neural networks with many hidden
layers, which are referred to as DNN (deep neural networks) have
been using in the machine learning community. The goal of this
study is to investigate electricity price forecasting performance of the
shallow-ANN and DNN models for the Turkish day-ahead electricity
market. The forecasting accuracy of the models has been evaluated
with publicly available data from the Turkish day-ahead electricity
market. Both shallow-ANN and DNN approach would give successful
result in forecasting problems. Historical load, price and weather
temperature data are used as the input variables for the models.
The data set includes power consumption measurements gathered
between January 2016 and December 2017 with one-hour resolution.
In this regard, forecasting studies have been carried out comparatively
with shallow-ANN and DNN models for Turkish electricity markets
in the related time period. The main contribution of this study
is the investigation of different shallow-ANN and DNN models
in the field of electricity price forecast. All models are compared
regarding their MAE (Mean Absolute Error) and MSE (Mean Square)
results. DNN models give better forecasting performance compare to
shallow-ANN. Best five MAE results for DNN models are 0.346,
0.372, 0.392, 0,402 and 0.409.
Abstract: The Smart Grid Simulator is a computer software based on advance algorithms which has as the main purpose to lower the energy bill in the most optimized price efficient way as possible for private households, companies or energy providers. It combines the energy provided by a number of solar modules and wind turbines with the consumption of one household or a cluster of nearby households and information regarding weather conditions and energy prices in order to predict the amount of energy that can be produced by renewable energy sources and the amount of energy that will be bought from the distributor for the following day. The user of the system will not only be able to minimize his expenditures on energy factures, but also he will be informed about his hourly consumption, electricity prices fluctuation and money spent for energy bought as well as how much money he saved each day and since he installed the system. The paper outlines the algorithm that supports the Smart Grid Simulator idea and presents preliminary test results that supports the discussion and implementation of the system.
Abstract: Gas turbine air inlet cooling is a useful method for
increasing output for regions where significant power demand and
highest electricity prices occur during the warm months. Inlet air
cooling increases the power output by taking advantage of the gas
turbine-s feature of higher mass flow rate when the compressor inlet
temperature decreases. Different methods are available for reducing
gas turbine inlet temperature. There are two basic systems currently
available for inlet cooling. The first and most cost-effective system is
evaporative cooling. Evaporative coolers make use of the evaporation
of water to reduce the gas turbine-s inlet air temperature. The second
system employs various ways to chill the inlet air. In this method, the
cooling medium flows through a heat exchanger located in the inlet
duct to remove heat from the inlet air. However, the evaporative
cooling is limited by wet-bulb temperature while the chilling can cool
the inlet air to temperatures that are lower than the wet bulb
temperature. In the present work, a thermodynamic model of a gas
turbine is built to calculate heat rate, power output and thermal
efficiency at different inlet air temperature conditions. Computational
results are compared with ISO conditions herein called "base-case".
Therefore, the two cooling methods are implemented and solved for
different inlet conditions (inlet temperature and relative humidity).
Evaporative cooler and absorption chiller systems results show that
when the ambient temperature is extremely high with low relative
humidity (requiring a large temperature reduction) the chiller is the
more suitable cooling solution. The net increment in the power output
as a function of the temperature decrease for each cooling method is
also obtained.