Performance and Economic modelling

Solar power and battery energy storage systems are key components of bulk electrical system design and play a significant role in optimizing energy supply and ensuring stability. Performance and financial modelling are essential in determining the feasibility, efficiency, and financial benefits of integrating these technologies.

Battery Energy Storage Performance Modeling
    • Energy storage capacity estimation: Based on the load demand, renewable generation variability, and desired backup time, the required capacity of the battery energy storage system can be determined.
    • Energy management algorithms: Sophisticated algorithms are used to manage the charge and discharge cycles of the batteries, maximizing their performance and overall system efficiency.
    • Dispatch strategies: The energy storage system’s operation is modeled to optimize its usage, balancing the variable energy generation, load demand, and grid support functionalities (e.g., frequency regulation and voltage control).
Financial Modeling
    • Cost estimation: The cost of solar power and battery energy storage systems, including equipment, installation, and maintenance, is calculated. This also includes any necessary associated balance of system (BOS) components such as inverters, mounting structures, and electrical infrastructure.
    • Revenue estimation: Financial models consider the potential revenue streams from the capacity, energy arbitration, or ancillary services, including energy sales, demand response programs, tariff incentives, and potential carbon credits.
    • Return on Investment (ROI): Financial modelling allows for calculating the payback period and ROI of the solar power and battery energy storage systems, considering the initial investment, operating costs, and potential revenue.
    • Sensitivity analysis: Sensitivity analysis helps evaluate the impact of different factors, such as energy price fluctuations, equipment costs, and policy changes on financial performance.
View Our Projects
Solar EPC

The combination of solar power and battery energy storage in a microgrid offers several benefits, including reduced dependence on fossil fuels, integration of renewable energy sources, grid stability, and potential cost savings.

 

Through performance and financial modelling, the design and optimization of these systems can be carried out to maximize their efficiency and economic viability, contributing to the project’s overall success.

“All of us at Entropy would like to express our appreciation for the work of the team performed as Independent Engineer for the project finance of Entropy’s 5MW Cayman Solar Project by CIBC First Caribbean International Bank.
The project was the first utility scale solar project developed in Cayman Islands, which posed a unique set of challenges. A number of unusual design and engineering principals needed to be incorporated to address hurricane force wind loading, difficult soil and rock conditions, and the lack of a substantial service and support infrastructure to accommodate the service and maintenance needs of the plant. The team worked with us to fully understand and address potential risks, delivering their work professionally, on time, and on budget.”
Managing Partner,

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