Principles to Adapt Financing Mechanisms for Fully Integrated Hybrid Energy Systems: Article No. 052301

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Abstract

As the electricity sector evolves, and as all energy types (thermal, electric, chemical, etc.) become more coupled, there has been increased interest to develop and deploy hybrid energy systems (HES). This work focuses on fully integrated HES, where there are multiple energy sources and multiple energy products, often coupled through a storage buffer. A significant amount of the available literature on this work describes technology pathways for fully integrated HES; however, it is unclear how financial institutions should treat these systems. Fully integrated HES represent an increase in complexity from their stand-alone counterparts, but they also potentially mitigate financial risk and provide value to the energy system, which has not yet been accounted for in financing mechanisms that could help to enable such systems. This paper provides some examples of fully integrated HES and proposes principles to help adapt financing to adequately capture the value of such systems.
Original languageAmerican English
Number of pages4
JournalJournal of Renewable and Sustainable Energy
Volume14
Issue number5
DOIs
StatePublished - 2022

NREL Publication Number

  • NREL/JA-6A50-82769

Keywords

  • financing
  • hybrid
  • nuclear
  • renewable

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