Techno economical strategy evolution for power system market

Abstract

Power is the most critical component of infrastructure that is crucial for the economic growth and welfare of nations. The existence and development of adequate infrastructure is essential for sustained growth of the Indian economy. India s power sector is one of the most diversified sectors in the world. Sources of power generation range from conventional sources such as coal, lignite, natural gas, oil, hydro and nuclear power to viable non-conventional sources such as wind, solar, and agricultural and domestic wastes. The electricity demand in the country has grown rapidly and now it has reached 13,75,663 Million Units (MU) and is expected to increase further in the coming years. In order to meet the increasing demand of electricity in the country, massive addition to the installed generating capacity is required. This can be fulfilled harmlessly by introducing non-conventional energy sources and by properly managing the energy reserves available at conventional power plants. The Government of India s focus on attaining Power for all has accelerated electricity generation capacity addition in the country. At the same time, a competitive tendency is growing in the power GENeration COmpany (GENCO) markets. In a deregulated power supply system, the existing generation market needs to work for improvement in terms of effectively enhancing the profit and reliability of the system on the whole. In this work, a comparative analysis of the result is reported wherein it is established that the proposed technique is reliable and gives the best solution while satisfying complete load demand at every hour for four cases; Case A: 10 thermal units, Case B: 10 thermal units with a 55 MW wind unit, Case C: 10 thermal units with a 55 MW solar unit, Case D: 10 thermal units with a 55 MW hybrid (27.5 MW wind and 27.5 MW solar) unit. The proposed work considers a hybrid renewable power integrated thermal power generation system supplying the power demand and maintaining the reserve power simultaneously