Optimization of Hybrid Renewable Energy System Incorporating Heliostats with Thermal Energy Storage, PV and Battery Storage for Enhanced Energy Flexibility and Reliability

Abstract

The urgent need for sustainable energy solutions to combat climate change and the growing global energy demand has stimulated the development of renewable energy technologies. Among these, hybrid renewable energy systems (HRES) that combine multiple energy sources promise enhanced efficiency, reliability and flexibility compared to single-source systems. This research focuses on a novel HRES configuration that integrates a concentrated solar power named solar tower with thermal energy storage (TES), photovoltaic modules and battery energy storage systems (BESS) in North Togo. The study aimed to maximize the energy produced, while reducing costs and finally evaluated the environmental aspect saved. We use parametric optimization through SAM to determine the optimum levelized cost of energy and net present value. SAM software was used for heliostat modelling. The single-owner model was used for financial analysis. The results demonstrated the project's financial viability and environmental impact, with an LCOE of $0.14kWh^-1 indicating a competitive cost of energy production and an IRR of 14.87% showcasing strong investment returns. A high NPV of $9,307,001 indicated some good interest in the proposed HRES.  Furthermore, the significant reduction of 25,815.7513 tons of CO₂ emissions highlights the project's substantial contribution to sustainability and carbon footprint reduction.