Economic Feasibility Analysis of Lithium Ion Batteries for Direct Current Power Supply in Refineries
|International Journal of Engineering Trends and Technology (IJETT)||
|© 2019 by IJETT Journal|
|Year of Publication : 2019|
|Authors : Nkolika O. Nwazor, Joe Samuel Otonye
|DOI : 10.14445/22315381/IJETT-V67I3P206|
MLA Style: Nkolika O. Nwazor, Joe Samuel Otonye "Economic Feasibility Analysis of Lithium Ion Batteries for Direct Current Power Supply in Refineries" International Journal of Engineering Trends and Technology 67.3 (2019): 37-43.
APA Style:Nkolika O. Nwazor, Joe Samuel Otonye (2019). Economic Feasibility Analysis of Lithium Ion Batteries for Direct Current Power Supply in Refineries. International Journal of Engineering Trends and Technology, 67(3), 37-43.
The lithium ion battery for energy storage is fast replacing conventional lead acid batteries of recent. This is due to its reliability, durability, cost efficiency and its less maintenance. This dissertation work looks at the economic feasibility analysis of lithium ion batteries to direct current power supply in Refineries. The Port Harcourt Refinery Company at Alesa Eleme, in Eleme Local Government Area, Rivers State of Nigeria was used as a case study. The 16 substations of Port Harcourt Refinery Company (PHRC) uses lead acid batteries. The refinery was visited and different lead acid batteries types were assessed. The cost of the substations lead acid batteries were evaluated, including maintenance and operational cost. The life cycle cost analysis tool was used to analyse and then compared the cost effectiveness of the two storage system for a period of 10 years. The results show that the 12V 200AH Genus batteries and 12V 200AH Flooded wet batteries cost amounted to ?387.36 million ($) and ?512.30 million ($) respectively while the 12V 200AH lithium ion batteries capital investment plus its maintenance cost amounted to ?309.20 million ($). This result shows that using lithium ion battery as a storage device is more cost effective than the conventional lead acid batteries being used. If this analysis is projected to replace the lead acid batteries with lithium ion batteries in all the Nigeria National Petroleum Corporation (NNPC) facilities that are using lead acid batteries, the corporation will save billions of naira.
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Economic Feasibility Analysis, lithium ion, lead acid batteries, Life Cycle Analysis, Port Harcourt Refining Company PHRC.