Authors :
Joe-Uzuegbu C. K.; Okafor E. N. C.; Onojo O. J.
Volume/Issue :
Volume 8 - 2023, Issue 11 - November
Google Scholar :
http://tinyurl.com/5n8sxukb
Scribd :
http://tinyurl.com/479k5425
DOI :
https://doi.org/10.5281/zenodo.10618656
Abstract :
Every Nigerian tertiary institution requires
adequate power supply to operate effectively for its
administrative, academic and miscellaneous functions.
The challenge of insufficient power supply by utility
generally remains a constant setback in these
institutions. This consequently leads to a high
dependence on alternative means of electricity
generation most of which are usually more expensive
than the supply from the public utility. The most
common dependence is on diesel and petrol generators,
while a few others attempt to go on renewables.
Moreover, every institution also needs to break even on
both productivity and finances after every academic
session. Thus there is the need to strike a balance
between the cost of power generated for a set of
consumers, the cost of generation, and the profitability
of alternative power generation. This research is
concerned with using the load profile of the Federal
University of Technology Owerri to develop a pricing
policy for a microgrid network comprising two 500 kW
solar farms, a 100kW microhydro plant and the already
existing diesel generators. The method of direct
cumulative computation was used with the data collected
both during the current market surveys for the
renewable components and the expected daily load usage
curves. This policy will enable a consumer to schedule
load usage and minimize energy wastage, determine
when the university can expect returns on investment on
alternative energy generation and enable the university
develop a tariff system of operation where necessary.
Keywords :
Pricing Policy, Renewable, Return on Investment, Optimization, Tariff.
Every Nigerian tertiary institution requires
adequate power supply to operate effectively for its
administrative, academic and miscellaneous functions.
The challenge of insufficient power supply by utility
generally remains a constant setback in these
institutions. This consequently leads to a high
dependence on alternative means of electricity
generation most of which are usually more expensive
than the supply from the public utility. The most
common dependence is on diesel and petrol generators,
while a few others attempt to go on renewables.
Moreover, every institution also needs to break even on
both productivity and finances after every academic
session. Thus there is the need to strike a balance
between the cost of power generated for a set of
consumers, the cost of generation, and the profitability
of alternative power generation. This research is
concerned with using the load profile of the Federal
University of Technology Owerri to develop a pricing
policy for a microgrid network comprising two 500 kW
solar farms, a 100kW microhydro plant and the already
existing diesel generators. The method of direct
cumulative computation was used with the data collected
both during the current market surveys for the
renewable components and the expected daily load usage
curves. This policy will enable a consumer to schedule
load usage and minimize energy wastage, determine
when the university can expect returns on investment on
alternative energy generation and enable the university
develop a tariff system of operation where necessary.
Keywords :
Pricing Policy, Renewable, Return on Investment, Optimization, Tariff.