ECONOMIC FEASIBILITY STUDY OF ADDING SOLAR PV, ENERGY STORAGE SYSTEM TO AN EXISTING WIND PROJECT: A CASE STUDY IN RÖDENE, GOTHENBURG

Abstract: Wind resources are highly intermittent and fluctuant, making wind turbines less reliable and the unstable power output will affect grid stability and security. This paper presents an idea of integrating the solar PV plant and energy storage system into an existing wind project, project Rödene in Gothenburg. The hybrid renewable system, which consists of two or more renewable energy sources, is considered the renewable energy development trend. An economic analysis of a 1.2 MW PV plant, 5 MW lithium-ion battery storage system and 300 kg hydrogen fuel cell storge system are assessed in terms of LCOE and LCOS of plants. The revenue stream is discussed separately, consisting of electricity tariff, ancillary services and energy arbitrage. The results show that both PV plant and energy store systems are unprofitable. When the PV panel cost is reduced more than 30% and the annual production increases at least 30%, the LCOE of the PV plant arrives at the break-even point. Also result shows the hydrogen fuel cell energy storage system is too expensive of commercial use, and the battery energy storage system has a high potential of profitable if the ancillary service in Sweden is well organized in the future