Performance and Techno-Economic Evaluation of a Hybrid Floating Photovoltaic System With Micro-CAES

Abstract

The increasing deployment of floating photovoltaic systems has intensified the need for reliable and cost-effective energy storage solutions to mitigate intermittency. This study presents a hybrid floating photovoltaic system integrated with micro–compressed air energy storage and evaluates its thermodynamic performance and long-term economic feasibility under different climatic conditions. A coupled numerical framework combining thermodynamic modeling, climate-dependent performance simulation, and energy dispatch control was developed using ANSYS and MATLAB/Simulink environments. The round-trip efficiency of the storage subsystem was determined based on compressor and expander isentropic efficiencies, while system performance was assessed for moderate, hot, and cold climate scenarios. The results indicate that climatic conditions significantly affect compression work and overall storage efficiency, with round-trip efficiency varying between 41% and 47%. The proposed configuration demonstrates stable load support capability and improved reliability compared to battery-based alternatives in long-term operation. A 20-year techno-economic assessment incorporating capital expenditure, operational costs, replacement intervals, and a 7% discount rate shows competitive levelized cost of energy values relative to conventional storage technologies. The findings confirm that hybrid floating photovoltaic systems combined with micro–compressed air energy storage can provide a technically viable and economically sustainable solution for distributed renewable energy applications.