Feasibility analysis of GRIDSOL technology in Fuerteventura: A Case Study

Description

In light of the recent worldwide efforts to reduce fossil fuel use for energy purposes, the power sector is experiencing a considerable transformation with multiple interventions acting at shifting primary sources of energy production towards more sustainable alternatives. Renewable energy based
technologies have been the forefront of this development.
Although beneficial from an environmental perspective, the increasing penetration of renewable has raised major concerns in terms of intermittency, unpredictability and variability of electricity production, raising pressure on the Transmission System Operator to balance demand and supply. To this end, the GRIDSOL project proposes Smart Renewable Hubs
designed to provide a single and more steady output of electricity, on tailored locations, combining different renewable and storage technologies such as concentrated solar power, photovoltaic, electrical and thermal batteries. This study investigates the technical application and economic feasibility of GRIDSOL for the case of Fuerteventura in the Canary islands. Modelling simulations based on different configuration of technologies show a potentially relevant role of the concentrated solar power plant serving the load, historically covered by diesel power plants. In the most relevant configuration, GRIDSOL can provide up to 68% of Fuerteventura’s energy consumption, with a capacity factor of 67% for the concentrated solar power plant and a 24% CO2 emission reduction compared to 2016 levels. The economic assessment, performed over different scenarios, shows that the applicability of GRIDSOL in the Canary system requires support in terms of investments grants on the capital expenditure (58% of the costs) or as feed-in premiums on energy production (54-67 €/MWh) to break-even. Additional considerations on investments suggest that a 6% private discount rate can reduce the level of support down to 35 €/MWh feed-in premium, compared to 8% assumed under reference assumptions.

Period	27 Sept 2018
Event title	7th International Conference on Renewable Power Generation
Event type	Conference
Conference number	7
Location	Kgs. Lyngby, DenmarkShow on map
Degree of Recognition	International