OPEN-SOURCE SOFTWARE: EMPOWERING ENERGY ANALYSTS WITH STOCHASTIC TECHNOECONOMIC ASSESSMENTS WITH HERON

Open-Source Software: Empowering Energy Analysts with Stochastic Technoeconomic Assessments with HERON

In the dynamic landscape of electric energy systems, where the shift towards variable renewable energy sources like wind and solar is inevitable, the HERON toolset emerges as a transformative solution. Developed as a modeling toolset and plugin for RAVEN, HERON accelerates the stochastic technoeconomic assessment, enabling precise economic viability analysis of various grid-energy system configurations. By integrating advanced stochastic analysis capabilities, HERON addresses the increasing complexity in electricity demand and the integration of Integrated Energy Systems (IES), paving the way for economically optimal dispatch and robust system planning in the face of uncertainty.

The evolution of the electric energy market, with a growing emphasis on renewable sources, presents challenges in maintaining economic and operational efficiency. Traditional tools, relying on deterministic linear optimization, fall short in capturing the nuances of market, load, and weather variabilities. HERON, leveraging the sophisticated frameworks of RAVEN and its TEAL plugin, introduces a paradigm shift by automating complex stochastic workflow generation for technoeconomic analysis. This innovation not only streamlines the analysis process but also enhances accuracy in assessing the economic viability of IES configurations.

Advantages:

• Accelerated Analysis: Significantly reduces the time from data collection to economic viability assessment, bypassing months of manual workflow crafting.
• Stochastic Optimization: Employs advanced stochastic modeling to capture market, load, and weather variabilities, offering a more realistic economic viability landscape.
• Comprehensive Economic Metrics: Provides detailed economic outcomes, including Net Present Value and System Cost, enabling informed decision-making.
• User-Friendly Interface: Simplifies complex RAVEN workflow generation, making sophisticated technoeconomic assessment accessible to non-experts.
• Open Source Collaboration: Facilitates broad collaboration and development across industries, academic institutions, and research laboratories.

Applications:

• Grid-Energy System Configuration: Optimal planning and operation of grid-energy systems, including renewable energy integration and flexible generator management.
• Economic Viability Assessment: In-depth economic analysis of IES configurations, taking into account the stochastic nature of energy markets and demand.
• Educational and Research Development: Toolset accessibility for universities and research institutions for academic and practical economic analyses of energy systems.

Primary Audience:

• Energy analysts and engineers focusing on grid-energy systems and renewable energy integration.
• Academic researchers and students in energy system planning and economic viability assessment.
• Government agencies and departments involved in energy policy and infrastructure planning.
• Utility companies seeking to optimize their energy mix and operational efficiency.
• Developers of renewable energy projects looking for robust economic assessment tools.
• Industry consultants providing strategic advice on energy system configurations and investments.

Embrace the future of energy system planning with HERON. By harnessing the power of stochastic technoeconomic assessment, stakeholders across the energy sector can unlock new efficiencies, improve economic viability, and contribute to a sustainable energy landscape. Download HERON today from GitHub and join the forefront of energy system innovation.

This software is open source and available at no cost. Download now by visiting the product's GitHub page.

INL’s Technology Deployment department focuses exclusively on licensing intellectual property and partnering with industry collaborators capable of commercializing our innovations. Our goal is to commercialize the technologies developed by INL researchers. We do not engage in purchasing, manufacturing, procurement decisions, or providing funding. Additionally, this is not a call for external services to assist in the development of this technology.