Electricity Generation Cost Simulation

Drennen, T., A. Baker, and W. Kamery (2003). Electricity Generation Cost Simulation Model (GenSim) Version 2.0. Sandia National Laboratories. 

These are projected production costs for a new, state of the art, electricity unit (2005). Production costs calculated using Sandia s Electricity Generation Simulation Model (GenSim). 

To perform simulation and optimisation of a power system using the HOMER tool, information and data on natural resources (such as wind and solar irradiance data), electric and thermal loads, economic constraints, current and future equipment costs, user behaviour and control strategies are required. The main purpose of the techno-economic analysis presented in this chapter was to investigate the impact of diesel generators and batteries replacement with hydrogen technologies, including fuel cells both in technical and financial terms. 

Moreover, the cost of diesel fuel was considered equal to 0.8 /L and the project lifetime was 16 years. The results of the existing PV-diesel power system simulation showed that 17% of system s electricity production comes from the photovoltaic array and the remaining 83% is produced by the diesel generator. 

---