Open AccessUncertainty analysis for industries investing in energy equipment and renewable energy sources
Author(s) -
Eva M. Urbano,
A.D. Gonzalez-Abreu,
Konstantinos Kampouropoulos,
L. Romeral
Publication year - 2021
Publication title -
renewable energy and power quality journal
Language(s) - English
Resource type - Journals
ISSN - 2172-038X
DOI - 10.24084/repqj19.234
Subject(s) - renewable energy , prosumer , robustness (evolution) , environmental economics , latin hypercube sampling , computer science , energy (signal processing) , investment (military) , reliability engineering , energy engineering , risk analysis (engineering) , business , engineering , economics , electrical engineering , mathematics , biochemistry , chemistry , statistics , politics , political science , law , monte carlo method , gene
This paper studies the optimal design and operation of new energy equipment including renewable energy sources for prosumer industries. In order to augment the interest of industries in performing energy actions, the economic parameters of the investment are analysed and the risk related to it considering the uncertainty in energy markets is evaluated. A two-stage optimization approach is proposed considering the whole lifetime of the energy equipment and an uncertainty analysis performed through the evaluation of the deterministic model under Latin Hypercube Samples of uncertain parameters. A case study based on a real industry is presented, whose results expose the robustness of the optimization methodology and the acceptable risk of investing in renewable energy sources and energy equipment for prosumer purposes.