Application of Cost Benefits Analysis for the Implementation of Renewable Energy and Smart Solution Technologies:A Case Study of InteGRIDy Project

Gudlaugsson, Bjarnhedinn and Ahmed, Tariq and Dawood, Huda and Ogwumike, Chris and Dawood, Nashwan (2021) Application of Cost Benefits Analysis for the Implementation of Renewable Energy and Smart Solution Technologies:A Case Study of InteGRIDy Project. Environmental Sciences Proceedings, 11 (1). ISSN 2673-4931

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Abstract

Cost−benefit analysis is a common evaluation method applied to assess whether an energy system is economically feasible as well as the economic viability of energy investment for the energy transition of a pre-existing energy system. This paper focuses on examining the economic costs and benefits obtained through the implementation of renewable energy and smart technology to a pre-existing energy system of two pilot sites—St. Jean and Barcelona. The evaluation process includes all relevant parameters such as investment, operating and maintenance costs, and energy prices needed to assess the economic feasibility of the investment. The results show that investing in energy system development towards a decarbonized future, can provide various benefits such as increased flexibility, and reduced emissions while being economically feasible.

Item Type:
Journal Article
Journal or Publication Title:
Environmental Sciences Proceedings
Subjects:
ID Code:
166279
Deposited By:
Deposited On:
17 Feb 2022 16:05
Refereed?:
Yes
Published?:
Published
Last Modified:
04 May 2022 02:44