Application, planning, and techno-economic analysis of the multi-renewable energy complementary system in rural...

The multi-renewable energy complementary system (MRECS) is a good plan that can effectively support the accomplishment of carbon peaking and carbon neutrality on schedule and take full advantage of renewable resources in rural areas. This research investigates the techno-economic feasibility of MRECS in rural areas to promote its large-scale implementation. A MRECS with integrated solar, wind, and biomass energy is proposed for a rural economic development zone. First, a scientific evaluation of the potential for renewable resources in rural areas is done. Second, a case study of the Jize Economic Development Zone is applied to examine the optimal MRECS configuration. Finally, an economic evaluation model that takes environmental benefits into account was created based on life cycle costs (LCCs). For the techno-economic analysis, the net present value (NPV), dynamic investment payback period, and internal rate of return (IRR) are also employed. Findings reveal that (1) the Jize Economic Development Zone has considerable development potential due to its abundance of renewable energy resources and ability to plan for 168.42 MW of renewable energy units; (2) to meet the demand for continuous power generation and realize the sensible use of renewable energy, a combination of 10 MW photovoltaic power generation (PV), 25 MW wind power generation (WT), 2 MW biogas power generation (BG), and 1 MW straw direct combustion power generation (SDC) is able to be implemented; (3) the provided renewable energy system can save indirect expenses up to 10.60 million RMB/year, with significant environmental advantages, when compared to grid extension; and (4) the NPV of the dynamic investment reaches RMB 322.44 million after accounting for the environmental advantages in the income of MRECS. The dynamic investment payback period is 6.42 years, and the IRR is 21.44%. According to the findings, the MRECS is economically viable, and capitalizing on the environmental advantages can increase those advantages even more.