Design of a cost and reliability optimized framework for the techno-economic analysis of a stand-alone PV/FC Li-ion battery system

Abstract

The multiple advantages of the Li-ion batteries and the long-term storage capacity of hydrogen are exploited in this work to obtain an optimal system configuration and achieve energy self-sufficiency. The degradation cost of the battery, based on both calendar and cyclic aging, is included to provide a more detailed and accurate techno-economic balance and estimation. Moreover, the operating cost of the battery and hydrogen system is considered in the energy management strategy (EMS) to determine the prioritized storage system to be used. Therefore, to economize the costs and increase the reliability of the standalone photovoltaic/fuel cell (PV/FC) Li-ion battery system, an EMS is developed by customizing and adapting the Improved Grey Wolf Optimizer (IGWO), referred to as the Modified Improved Grey Wolf Optimizer (M-IGWO). The proposed system achieves a Levelized Cost of Energy (LCOE) of 0.3257 $/kWh when Loss of Power Supply Probability (LPSP) is less than 1%, with 68.18% use of hydrogen system over the time and 26.11% of the battery, demonstrating high reliability. Depending on the operating mode, the battery utilization to support H2_system is decreasing from 10.71% to 1.18%, while the hydrogen system utilization to support battery is decreasing from 29.64% to 9.16%. These findings highlight the effectiveness of the M-IGWO algorithm and EMS in optimizing PV/FC Li-ion battery system for various scenarios