The Economic Aspects of Power System Design

Abstract

In power system design, the proper choice of a power source plays an important role on system cost, efficiency, and environmental considerations. Various types of power sources exist, such as solar and wind power, beyond the traditional types of energy sources that power the electric grid. These alternative power sources are often considered as a result of a concern for the environment and incentives for the development of green power generation technology. Furthermore, since resources are often scarce, economic issues related to the alternative power sources become a crucial concern. This paper will present an approach for conducting an economic analysis for assisting in the selection of a power system design utilizing various power sources. as a case study, the selection of a power system design in Rolla, Missouri will be used to illustrate the economic considerations of each power source design alternative. a life-cycle costing method is utilized during the evaluation of each alternative. Cost-to-load is then calculated and provided as a design comparison metric.

Department(s)

Engineering Management and Systems Engineering

Document Type

Article - Conference proceedings

Document Version

Citation

File Type

text

Language(s)

English

Rights

© 2024 Scimago Journal & Country Rank, All rights reserved.

Publication Date

01 Dec 2005

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