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D2.3 Techno-Economic Impact Assessment
Using the results from the previous findings within the REACT project, largely Tasks 2.1 Assessment of RES potential at pilot sites and 2.2 RES/storage enabled infrastructure planning, Task 2.3 attempts to produce a techno-economic analysis of the recommended simulated
energy system scenarios for the project’s pilot islands. This techno-economic analysis will be based on the results of the application of a combination of tools and methods on the provided scenarios. The findings of this task will be used, and considered in concert, with the findings of Task 2.4’s evaluation of the scenarios’ lifecycle environmental impact assessments in a multicriteria decision model to rank and identify the best suited simulated RES/storage configuration for each island examined. The most suitable simulated configurations from this
evaluation will be considered for potential use in Work package 3 RES/storage enabled infrastructure deployment and Work Package 7 Validation and replication plan.
This deliverable Del.2.3 begins by identifying the key terms and concepts central to understanding the (energy project) techno-economic evaluation process. This is followed by a short listing of the models and tools typically used to produce a techno-economic evaluation
before identifying the specific tool to be used in this report. A guide explaining the technoeconomic evaluation process is presented after the tools have been reviewed.
The general assumptions applied to conduct the evaluations done in this deliverable are then explained and the scenarios to be reviewed from Task 2.2 are introduced for each pilot island. Each of the pilot islands’ scenarios are then reviewed using levelized cost of energy worksheets developed for this Task by Teesside University and Uppsala University as well as the RETScreen project planning feasibility tool to find key economic performance indicators as well as to conduct sensitivity and risk analyses. The results from the evaluations are discussed and analysed before conclusions are made regarding the potential techno-economic viability of each of the provided scenarios. The key indicators and conclusions from this deliverable are used by Task 2.4 when performing an integrated assessment of the most suitable RES/storage configuration of those provided by Task 2.2, via multi-criteria analysis.