Economic evaluation of installation of standalone wind farm and Wind+CAES system for the new regulating tariffs for renewables in Egypt
Compressed Air Energy Storage (CAES) is widely recognized as a viable solution for large-scale grid integrated renewable energy systems in terms of load levelling to solve/minimize the intermittency effect of renewable energy systems especially with increased penetration of renewables to the grid. T...
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Elsevier
2018
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| Online Access: | https://eprints.nottingham.ac.uk/52410/ |
| _version_ | 1848798719747555328 |
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| author | Ramadan, Omar Omer, Siddig Ding, Yate Jarimi, Hasila Chen, Xiangjie Riffat, Saffa |
| author_facet | Ramadan, Omar Omer, Siddig Ding, Yate Jarimi, Hasila Chen, Xiangjie Riffat, Saffa |
| author_sort | Ramadan, Omar |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | Compressed Air Energy Storage (CAES) is widely recognized as a viable solution for large-scale grid integrated renewable energy systems in terms of load levelling to solve/minimize the intermittency effect of renewable energy systems especially with increased penetration of renewables to the grid. This study assesses the economic value of adding compressed air energy storage (CAES) plant to a renewable energy system and how this impacts the overall financial appeal of the system at hand, taking Egyptian grid as a case in point. Numerical modelling using MATLAB was performed to analyse the benefits of adding a CAES system to planned wind farms in Egypt by 2020 for both load-levelling as well as optimizing economic benefit. The results show that the addition of a CAES system would increase the profitability for the new Tariff for wind systems set by the Egyptian government with a NPV of $306m compared to a NPV of $207m of a stand-alone wind system at the end of 25 years of operation. Also, the economic benefits increase if the government provides subsidies for new installations of renewable energy systems, or by lowering the interest rates. |
| first_indexed | 2025-11-14T20:24:15Z |
| format | Article |
| id | nottingham-52410 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T20:24:15Z |
| publishDate | 2018 |
| publisher | Elsevier |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-524102019-06-15T04:30:15Z https://eprints.nottingham.ac.uk/52410/ Economic evaluation of installation of standalone wind farm and Wind+CAES system for the new regulating tariffs for renewables in Egypt Ramadan, Omar Omer, Siddig Ding, Yate Jarimi, Hasila Chen, Xiangjie Riffat, Saffa Compressed Air Energy Storage (CAES) is widely recognized as a viable solution for large-scale grid integrated renewable energy systems in terms of load levelling to solve/minimize the intermittency effect of renewable energy systems especially with increased penetration of renewables to the grid. This study assesses the economic value of adding compressed air energy storage (CAES) plant to a renewable energy system and how this impacts the overall financial appeal of the system at hand, taking Egyptian grid as a case in point. Numerical modelling using MATLAB was performed to analyse the benefits of adding a CAES system to planned wind farms in Egypt by 2020 for both load-levelling as well as optimizing economic benefit. The results show that the addition of a CAES system would increase the profitability for the new Tariff for wind systems set by the Egyptian government with a NPV of $306m compared to a NPV of $207m of a stand-alone wind system at the end of 25 years of operation. Also, the economic benefits increase if the government provides subsidies for new installations of renewable energy systems, or by lowering the interest rates. Elsevier 2018-06-15 Article PeerReviewed application/pdf en cc_by_nc_nd https://eprints.nottingham.ac.uk/52410/1/Manuscript_THERMAL%20SCIENCE%20AND%20ENGINEERING%20PROGRESS_Accepted%20Version.pdf Ramadan, Omar, Omer, Siddig, Ding, Yate, Jarimi, Hasila, Chen, Xiangjie and Riffat, Saffa (2018) Economic evaluation of installation of standalone wind farm and Wind+CAES system for the new regulating tariffs for renewables in Egypt. Thermal Science and Engineering Progress . ISSN 2451-9049 Compressed Air Energy Storage (CAES) Economic Assessment Energy Storage systems Wind Energy Large scale renewable energy https://www.sciencedirect.com/science/article/pii/S2451904918303299 doi:10.1016/j.tsep.2018.06.005 doi:10.1016/j.tsep.2018.06.005 |
| spellingShingle | Compressed Air Energy Storage (CAES) Economic Assessment Energy Storage systems Wind Energy Large scale renewable energy Ramadan, Omar Omer, Siddig Ding, Yate Jarimi, Hasila Chen, Xiangjie Riffat, Saffa Economic evaluation of installation of standalone wind farm and Wind+CAES system for the new regulating tariffs for renewables in Egypt |
| title | Economic evaluation of installation of standalone wind farm and Wind+CAES system for the new regulating tariffs for renewables in Egypt |
| title_full | Economic evaluation of installation of standalone wind farm and Wind+CAES system for the new regulating tariffs for renewables in Egypt |
| title_fullStr | Economic evaluation of installation of standalone wind farm and Wind+CAES system for the new regulating tariffs for renewables in Egypt |
| title_full_unstemmed | Economic evaluation of installation of standalone wind farm and Wind+CAES system for the new regulating tariffs for renewables in Egypt |
| title_short | Economic evaluation of installation of standalone wind farm and Wind+CAES system for the new regulating tariffs for renewables in Egypt |
| title_sort | economic evaluation of installation of standalone wind farm and wind+caes system for the new regulating tariffs for renewables in egypt |
| topic | Compressed Air Energy Storage (CAES) Economic Assessment Energy Storage systems Wind Energy Large scale renewable energy |
| url | https://eprints.nottingham.ac.uk/52410/ https://eprints.nottingham.ac.uk/52410/ https://eprints.nottingham.ac.uk/52410/ |