{"title":"High Stress Economic Scenario on Renewable Energy Integration with Genetic-Firework Hybrid Algorithm","authors":"Nicolas Lopez Ramos, Altina Hoti, Takeaki Toma","doi":"10.36941/ajis-2024-0051","DOIUrl":null,"url":null,"abstract":"This work models a hard economic scenario in which inflation rate is set to 7%, the price of diesel is increasing, the price of electricity purchased from the power grid is inflated and there is a top limit for daily purchasable electricity on a region, in which there is an attempt to introduce renewable energy on a private property of the size of a residential house of 5 people. The optimal microgrid configuration is approximated by the new Hybrid Genetic-Fireworks Algorithm working in conjunction with a Monte Carlo simulation to find the annual worth, and comparing results with a Genetic Algorithm and a Fireworks Algorithm. The components considered are: solar panels, wind turbines, diesel generators, electric batteries, converters, and a connection to the power grid. The objective is to maximize annual worth. The results show that a cost of energy (COE) of 2.0603 USD per kWh is achievable in such scenario, and recommends the further use of the Hybrid Genetic-Fireworks Algorithm for this type or Renewable Energy Integration studies, as it outperformed their 2 counterparts in this work. \n \nReceived: 12 January 2024 / Accepted: 19 February 2024 / Published: 5 March 2024","PeriodicalId":37106,"journal":{"name":"Academic Journal of Interdisciplinary Studies","volume":"14 11","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2024-03-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Academic Journal of Interdisciplinary Studies","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.36941/ajis-2024-0051","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"Arts and Humanities","Score":null,"Total":0}
引用次数: 0
Abstract
This work models a hard economic scenario in which inflation rate is set to 7%, the price of diesel is increasing, the price of electricity purchased from the power grid is inflated and there is a top limit for daily purchasable electricity on a region, in which there is an attempt to introduce renewable energy on a private property of the size of a residential house of 5 people. The optimal microgrid configuration is approximated by the new Hybrid Genetic-Fireworks Algorithm working in conjunction with a Monte Carlo simulation to find the annual worth, and comparing results with a Genetic Algorithm and a Fireworks Algorithm. The components considered are: solar panels, wind turbines, diesel generators, electric batteries, converters, and a connection to the power grid. The objective is to maximize annual worth. The results show that a cost of energy (COE) of 2.0603 USD per kWh is achievable in such scenario, and recommends the further use of the Hybrid Genetic-Fireworks Algorithm for this type or Renewable Energy Integration studies, as it outperformed their 2 counterparts in this work.
Received: 12 January 2024 / Accepted: 19 February 2024 / Published: 5 March 2024