Publication Date: 2024/02/05
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.
DOI: https://doi.org/10.5281/zenodo.10618656
PDF: https://ijirst.demo4.arinfotech.co/assets/upload/files/IJISRT23NOV2085.pdf
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