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Received March 4, 2016
Accepted July 18, 2016
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This is an Open-Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.org/licenses/bync/3.0) which permits
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An optimization-based planning of investment strategies for a renewable energy supply system from biomass utilization
Department of Energy and Chemical Engineering, Incheon National University, Incheon 22012, Korea
Korean Journal of Chemical Engineering, October 2016, 33(10), 2808-2819(12), 10.1007/s11814-016-0209-0
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Abstract
A strategic investment plan to establish renewable energy source (RES) systems plays an important role in various decision-making processes, from a stakeholder in business purposes to a policy maker for public benefits. In this study, we have developed a new optimization model to establish efficient investment strategies to design and operate a biomass to hydrogen (B2H2) system, which includes the features of RES (e.g., intermittent availability) and RES technologies (e.g., low conversion efficiency) along with various external factors on energy economy (energy price fluctuation and demand uncertainty). As a result, we identified the optimal long-term plan of investment strategy including timing, utilized amount, and capacity of facilities. In addition, we performed an economic sensitivity analysis for major parameters and evaluated a sustainability of the B2H2 system using additional metrics such as energy security and environmental protection.
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References
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Diaf S, Notton G, Belhamel M, Haddadi M, Louche A, Appl. Energy, 85(10), 968 (2008)
Akgul O, Shah N, Papageorgiou LG, Biomass Bioenerg., 41, 57 (2012)
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Ryu JH, Korean J. Chem. Eng., 30(1), 27 (2013)
Kim J, Moon I, Int. J. Hydrog. Energy, 33(21), 5887 (2008)
Almaraz SD, Azzaro-Pantel C, Montastruc L, Boix M, Chem. Eng. Res. Des., 104, 11 (2015)
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Ding J, Somani A, 2010 IEEE Green Technologies Conference, 1 (2010)
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Dal-Mas M, Giarola S, Zamboni A, Bezzo F, Biomass Bioenerg., 35(5), 2059 (2011)
Ahn YC, Lee IB, Lee KH, Han JH, Appl. Energy, 154, 528 (2015)
Kim J, Moon I, Int. J. Hydrog. Energy, 33(24), 7326 (2008)
Gim B, Boo KJ, Cho SM, Int. J. Hydrog. Energy, 37(2), 1162 (2012)
Kalinci Y, Hepbasli A, Dincer I, Int. J. Hydrog. Energy, 34(21), 8799 (2009)
Turner J, Sverdrup G, Mann MK, Maness PC, Kroposki B, Ghirardi M, Evans RJ, Blake D, Int. J. Energy Res., 32(5), 379 (2008)
Hallenbeck PC, Benemann JR, Int. J. Hydrog. Energy, 27(11-12), 1185 (2002)
Kim J, Lee Y, Moon I, Int. J. Hydrog. Energy, 33(18), 4715 (2008)
Almansoori A, Shah N, Chem. Eng. Res. Des., 84(6), 423 (2006)
Almansoori A, Shah N, Int. J. Hydrog. Energy, 37(5), 3965 (2012)
Cho S, Kim J, Energy, 85, 317 (2015)
Martin M, Grossmann IE, Comput. Chem. Eng., 35(9), 1798 (2011)
Lv PM, Wu CZ, Ma LL, Yuan ZH, Renew. Energy, 33(8), 1874 (2008)
Parker NC, Ogden JM, Fan YY, Energy Policy, 36(10), 3925 (2008)
Parker N, Fan Y, Ogden J, Transportation Research Part E:Logistics and Transportation Review, 46(4), 534 (2010)
Parthasarathy P, Narayanan S, Korean J. Chem. Eng., 32(11), 2236 (2015)
Paatero JV, Lund PD, Renew. Energy, 32(2), 216 (2007)
Almaraz SDL, Azzaro-Pantel C, Montastruc L, Domenech S, Int. J. Hydrog. Energy, 39(23), 11831 (2014)
Monga A, Zuo MJ, Comput. Ind. Eng., 40(4), 323 (2001)
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Korean Statistical Information Service, Statics Korea (2013).
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No K, Jeong Y, Yang J, Cheon H, Jeong S, Korea Livestock Economic Institute (KLEI), 1 (2010).
New & Renewable Energy Data Center, Korea Institute of Energy Research (KIER) (2015).
Telmo C, Lousada J, Biomass Bioenerg., 35(5), 1663 (2011)
Lim JS, Manan ZA, Alwi SRW, Hashim H, Renew. Sust. Energ. Rev., 16(5), 3084 (2012)
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Division of Technology, Industry and Ecommics (DTIE), United Nations Environment Programme (UNEP) (2009).
Wright LL, Perlack RD, Turhollow AF, Eaton LM, IEA Bioenergy, 1 (2011)
Cheng JJ, Timilsina GR, Renew. Energy, 36(12), 3541 (2011)
McKendry P, Bioresour. Technol., 83(1), 37 (2002)
Gielen D, International Renewable Energy Agency (IRENA), 1 (2012).
Khanna M, Dhungana B, Clifton-Brown J, Biomass Bioenerg., 32(6), 482 (2008)
Gallagher T, Shaffer B, Rummer B, Biomass Bioenerg., 30(8), 794 (2006)
Oliveira D, Dias ME, Vaughan BE, Rykiel EJ, Bioscience, 55(7), 593 (2005)
Bullard M, Metcalfe P, London, England: ADAS Consulting Ltd. (2001).
Manzone M, Calvo A, Renew. Energy, 86, 675 (2016)
Parks DG, Curry-Nkansah M, Hughes E, Sterzinger G, National Renewable Energy Laboratory (NREL), NREL/BK-6A10-51726, 1 (2011).
NREL, System Advisor Model (2012).
Aden A, Eggeman T, Jechura J, Ringer M, Spath P, Wallace B, Technical ReportBiomass to Hydrogen NREL/TP-510-37408 Production (2005).
Hiete M, Ludwig J, Bidart C, Schultmann F, Challenges for sustainable biomass utilisation, KIT Scientific Publishing (2009).
Almaraz SD, Azzaro-Pantel C, Montastruc L, Pibouleau L, Senties OB, Int. J. Hydrog. Energy, 38(33), 14121 (2013)
