Optimization and economic analysis of hybrid renewable energy system

The dwindling of fossil fuels and pollution-driven climate change, combined with rising energy demands, make a shift to renewable energy, which is essential for future electricity generation. This study assesses the feasibility of developing a hybrid renewable energy system to meet the electricity demand for the state of Assam (India). For this study, a hybrid system consisting of solar photovoltaic (PV), a wind turbine, a diesel generator (DG), converter and a battery bank are considered. A large load like a hostel in Tezpur (Assam) and a small domestic load in Guwahati (Assam) are studied. The most optimum off grid and grid connected hybrid models with the least cost of energy (COE) are found out using HOMER software. The hybrid system comprising of PV, DG, battery, converter gives the optimum off-grid system configuration with COE of Indian Rupee 10.66/kWh for hostel and Indian Rupee 12.48/kWh for household. The optimal results obtained are validated using an optimization technique. The COE of grid connected optimum hybrid system for hostel and household is Indian Rupee 6.93/kWh and Indian Rupee 4.72/kWh respectively. The economic analysis and the environmental impact assessment proved that grid connected hybrid system is the most environmentally and economically viable option for electricity generation in Assam.