Power Pinch Analysis supply side management: strategy on purchasing and selling of electricity

Pinch analysis concept has been recently stepped into the realm of design and optimisation of power systems. One well-established pinch analysis that has been used in power systems design and optimisation is called Power Pinch Analysis (PoPA). In PoPA, both graphical and numerical approaches have provided an insight on the systematic approach to target and design various power systems. By only visualising the minimum amount of outsource energy required by the power system, the graphical PoPA method as a whole does not show the purchasing of outsource energy based on the exact time intervals. Using graphical PoPA, the objective of this study is to determine a proper strategy to buy and sell outsource electricity to improve the overall performance of a hybrid power system comprising renewable power generators and energy storage system. The strategies are made based on three design parameters: energy-related capacity, power-related capacity of energy storage and maximum grid power rating between centralised grid and hybrid power system. While deciding on the best strategy and heuristics to be implemented, the effects on system operation and economy are indirectly analysed. It is experimented that the output can benefit electricity consumers or producers.