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Custom Optimization Tool for Integration of Various Power Generation and Energy Storage Technologies 

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Project Summary

A renewable energy developer required a custom-built technoeconomic model to evaluate hybrid power systems incorporating solar photovoltaic (PV), battery energy storage (ES), micro hydro, diesel generators, with and without grid interaction. The tool needed to support project-level design, performance simulation, scheduling, and financial analysis to optimize the cost and renewable energy penetration.

Challenge

The client was managing projects in remote or grid-interactive regions, where precise system modeling was essential for investment and operational decisions. Off-the-shelf software lacked the custom scheduling, cost structuring, and financial modeling features necessary to evaluate hybrid configurations at the required resolution and depth.

Solution

A fully integrated Excel-based model was developed with the following capabilities:
Hourly Simulation:

Incorporates hourly or sub-hourly weather data for both fixed and single-axis tracker PV configurations.

PV and ES Performance Modeling:
  • PV degradation over project life 
  • Clipping loss 
  • DC to AC ratio impacts 
  • Grid and PV-based ES charging 
12×24 Scheduling Matrix:
  • Hourly load 
  • ES charge/discharge 
  • Grid buy/sell pricing 
  • Micro hydro generation profiles 
Financial Modeling:
  • Detailed cash flow analysis 
  • Level-5 cost estimation for PV, ES, and balance of system 
  • Levelized Cost of Electricity (LCOE) calculation with support for cost escalation, depreciation methods, and equity-debt structuring 
Optimization Objectives:
  • Minimization of LCOE 
  • Achievement of renewable energy contribution targets 

Key Results

Enabled
simulation:

Enabled simulation of hybrid system operation over a full 8760-hour year with accounting for annual variations and system degradations

Provided annual and lifetime performance data including:

PV & ES dispatch profiles
Grid interaction (buy/sell)
Diesel offset and fuel savings

Delivered transparent
and adaptable:

Financial outputs including cash flows, savings from diesel reduction, and LCOE trends

Business Impact

Our contributions enabled the client to:

The client used the tool to analyze multiple scenarios, optimizing both cost and renewable energy contribution. It informed capital planning, supported investor presentations, and offered defensible, data-driven decision support for renewable integration in remote and semi-grid-connected regions. 

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