Economic Analysis Of CCHP System Based Microgrid

Combined Cooling, Heating and Power (CCHP) system has enjoyed nationwide preferenceowning to its high efficiency in energy utilization and less pollution emissions when affordingdifferent kinds of energy demands, including cooling, heating and power. Smart grid technologyhas already been a trend spanning from nation to nation. At the same time, microgrid hasdemonstrated to be an embracive organism for the accession of new energy sources. Evidently,the realization of microgrid economic performance optimization will directly influence itseconomy, reliability and the exploitation rate of renewable energy. Microgrid, by flexiblysupervising the cooling, heating and power demand, can help to increase the economic and socialbenefits, and provide a flexible operational platform for perspective CCHP.The main contribution of work concentrates on modeling of CCHP system and microgridas well as their economic performance optimization. Specifically to say, it is outlined as below:First of all, this paper gives an in-depth research regarding the Status quo of microgrid andCCHP at home and abroad. Based on the analysis of the microgrid classical configuration, thispaper has established the mathematical models of the wind turbine, photovoltaic, battery, gasturbine and heat treatment device.Secondly, in light of CCHP system, the simulation model is developed on the basis ofmicro-gas turbine, so is the economic optimization model with an objective function ofminimizing the running cost of CCHP system in a day. After that, a variety of contributingfactors are incorporated to manifest their corresponding influences on systems economics, suchas load ratio differences, fuel prices, surplus power connection policies and purchasing tariffs.The results show that the economic benefits of CCHP system is remarkable. A reasonableelectricity price, fuel price, thermal load ratio or grid connection policy are effective means toimprove the economy of CCHP system.Thirdly, considering a microgrid incorporating a CCHP system, the economical operationoptimal model is established, genetic algorithm is used to solve these models for minimizing thecost of operation, depreciation, maximizing environmental or comprehensive benefit, a relevantexample ascertains the feasibility of the models, strategies and algorithm.Finally, CCHP system configuration for capacity optimization is proposed and a numerical example is employed to reveal the process of optimal CCHP system configuration, supported bythe financial analysis, the investment decision is casted for the CCHP system. In the end, somefactors restricting the CCHP system development and constructive recommendations are putforward, affording additional reference for the future CCHP system development.