Techno-economic assessment of a hybrid on grid PV-wave system: A case study in Caspian Sea

The application of hybrid renewable energy systems (HRES) has been gaining ground in the recent years due to low-carbon policies of nations and increasing energy demand. However, marine energy sources such as waves have remained untapped notwithstanding their significant potential. This research examines the feasibility of a hybrid wave-photovoltaic (PV) system in three ports of Iran namely Bandare Anzali, Bandare Torkaman and Noshahr on the shores of Caspian Sea using MATLAB/Simulink. Oscillating water column (OWC) converters are deployed to harvest the wave energy. The findings indicated that the maximum energy production occurs in May, while the minimum is in November for all the locations under study. The annual energy generation reaches 11607.4 kWh, 13419.2 kWh and 11885.6 kWh in Anzali, Torkaman and Noshahr, respectively. The levelised cost of electricity (LCOE) for Anzali, Torkaman and Noshahr was found to be 5.59 $/kWh, 4.83 $/kWh and 5.46 $/kWh, respectively, which shows that Torkaman is the best place for the installation of the hybrid system. Considering the economic conditions in Iran, the system is not economically viable. It is, however, anticipated that with the elimination of energy subsidies in the near future, these systems can be feasible.(c) 2022 Elsevier Ltd. All rights reserved.

Automated summary

The application of hybrid renewable energy systems (HRES) is increasing due to low-carbon policies and rising energy demand. This research investigates the feasibility of a hybrid wave-photovoltaic (PV) system in three ports in Iran using MATLAB/Simulink. The findings show that the system's maximum energy production occurs in May and minimum in November. The annual energy generation in the ports ranges from 11607.4 kWh to 13419.2 kWh. The levelised cost of electricity (LCOE) indicates that one port is the best location for the hybrid system. However, considering Iran's economic conditions, the system is currently not economically viable, but it is anticipated to become feasible in the future with the elimination of energy subsidies.