Cost Optimization Model for a Grid-Connected Offshore Wind and Tidal Power Generation System Using Homer: A Case Study in Buffels Bay South Africa
Abstract
This study presents a cost optimization model for a grid-connected offshore wind and tidal power generation system, using Buffels Bay, South Africa, as a case study. The research utilizes the Hybrid Optimization Model for Electrical Renewable (HOMER) software to design and analyze a hybrid power system that integrates wind turbines, tidal energy, and battery storage with the local grid. Various system configurations were simulated to identify the most cost-effective solution, targeting the lowest Levelized Cost of Energy (LCOE) for a proposed 20 MW load. The optimized model combines tidal and wind power, contributing 62% and 20% of the total energy, respectively, demonstrating significant potential for renewable energy integration. The findings highlight the benefits of using a hybrid system to enhance reliability and reduce energy costs. Despite the low cost of coal-generated electricity in South Africa, the study shows that offshore wind and tidal energy can provide a sustainable and economically viable alternative, contributing significantly to the region's energy mix. This work offers valuable insights for future renewable energy projects in coastal regions with similar environmental and economic conditions
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