Significant Increase in Fuel Efficiency of Diesel Generators with Lithium-Ion Batteries Documented by Economic Analysis

As the global diesel generator market grows and generators gain wider use, various methods are being developed to increase their energy efficiency. One of these methods entails integrating a Li-ion battery with diesel generators (DGs). This method did not attract attention until recently because it...

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Autores principales:	Vedat Kiray, Mehmet Orhan, John Nwankwo Chijioke
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	diesel generators economic analysis Li-ion battery fuel efficiency MATLAB Simulink Technology T
Acceso en línea:	https://doaj.org/article/4fa4c5cf553e44d49a3e230870aaf512
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spelling	oai:doaj.org-article:4fa4c5cf553e44d49a3e230870aaf5122021-11-11T15:44:42ZSignificant Increase in Fuel Efficiency of Diesel Generators with Lithium-Ion Batteries Documented by Economic Analysis10.3390/en142169041996-1073https://doaj.org/article/4fa4c5cf553e44d49a3e230870aaf5122021-10-01T00:00:00Zhttps://www.mdpi.com/1996-1073/14/21/6904https://doaj.org/toc/1996-1073As the global diesel generator market grows and generators gain wider use, various methods are being developed to increase their energy efficiency. One of these methods entails integrating a Li-ion battery with diesel generators (DGs). This method did not attract attention until recently because it was economically unappealing. A significant decrease in the price of Li-ion batteries in recent years has made hybrid diesel generator/Li-ion battery systems more viable. We present a model-based economic analysis of a hybrid DG/Li-ion battery system with the aim of increasing the energy efficiency of diesel power generators. Special blocks were developed for calculations and comparisons with a MATLAB Simulink model, including 457 kW DG operating modes with/without a Li-ion battery. We simulated the system in order to calculate the conditions required to achieve savings in fuel and the level of savings, in addition to the payback time of the Li-ion battery. Furthermore, we present the additional savings gained by postponing the investment in a new diesel generator thanks to the Li-ion battery. Based on our findings, the payback period of the Li-ion battery system varies between 2.5 and 4 years. According to our 12-year economic analysis, the cost savings resulting from postponing new investments can reach 40% of the profit gained from the savings during such a period.Vedat KirayMehmet OrhanJohn Nwankwo ChijiokeMDPI AGarticlediesel generatorseconomic analysisLi-ion batteryfuel efficiencyMATLAB SimulinkTechnologyTENEnergies, Vol 14, Iss 6904, p 6904 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	diesel generators economic analysis Li-ion battery fuel efficiency MATLAB Simulink Technology T
spellingShingle	diesel generators economic analysis Li-ion battery fuel efficiency MATLAB Simulink Technology T Vedat Kiray Mehmet Orhan John Nwankwo Chijioke Significant Increase in Fuel Efficiency of Diesel Generators with Lithium-Ion Batteries Documented by Economic Analysis
description	As the global diesel generator market grows and generators gain wider use, various methods are being developed to increase their energy efficiency. One of these methods entails integrating a Li-ion battery with diesel generators (DGs). This method did not attract attention until recently because it was economically unappealing. A significant decrease in the price of Li-ion batteries in recent years has made hybrid diesel generator/Li-ion battery systems more viable. We present a model-based economic analysis of a hybrid DG/Li-ion battery system with the aim of increasing the energy efficiency of diesel power generators. Special blocks were developed for calculations and comparisons with a MATLAB Simulink model, including 457 kW DG operating modes with/without a Li-ion battery. We simulated the system in order to calculate the conditions required to achieve savings in fuel and the level of savings, in addition to the payback time of the Li-ion battery. Furthermore, we present the additional savings gained by postponing the investment in a new diesel generator thanks to the Li-ion battery. Based on our findings, the payback period of the Li-ion battery system varies between 2.5 and 4 years. According to our 12-year economic analysis, the cost savings resulting from postponing new investments can reach 40% of the profit gained from the savings during such a period.
format	article
author	Vedat Kiray Mehmet Orhan John Nwankwo Chijioke
author_facet	Vedat Kiray Mehmet Orhan John Nwankwo Chijioke
author_sort	Vedat Kiray
title	Significant Increase in Fuel Efficiency of Diesel Generators with Lithium-Ion Batteries Documented by Economic Analysis
title_short	Significant Increase in Fuel Efficiency of Diesel Generators with Lithium-Ion Batteries Documented by Economic Analysis
title_full	Significant Increase in Fuel Efficiency of Diesel Generators with Lithium-Ion Batteries Documented by Economic Analysis
title_fullStr	Significant Increase in Fuel Efficiency of Diesel Generators with Lithium-Ion Batteries Documented by Economic Analysis
title_full_unstemmed	Significant Increase in Fuel Efficiency of Diesel Generators with Lithium-Ion Batteries Documented by Economic Analysis
title_sort	significant increase in fuel efficiency of diesel generators with lithium-ion batteries documented by economic analysis
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/4fa4c5cf553e44d49a3e230870aaf512
work_keys_str_mv	AT vedatkiray significantincreaseinfuelefficiencyofdieselgeneratorswithlithiumionbatteriesdocumentedbyeconomicanalysis AT mehmetorhan significantincreaseinfuelefficiencyofdieselgeneratorswithlithiumionbatteriesdocumentedbyeconomicanalysis AT johnnwankwochijioke significantincreaseinfuelefficiencyofdieselgeneratorswithlithiumionbatteriesdocumentedbyeconomicanalysis
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Significant Increase in Fuel Efficiency of Diesel Generators with Lithium-Ion Batteries Documented by Economic Analysis

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