Techno-economic Investigations of Hybrid Renewable Energy System for Andaman & Nicobar Islands

Abstract

In the industrialized world, the development in energy sector is needed at any point in time. Traditional energy sources such as oil, coal, and natural gases are limited in nature so that the energy requirements have not been fulfilled for a longer time. So, “Renewable energy” plays a pivotal role in addressing energy demand and energy access challenges. This paper presents the issues associated with conventional or non-renewable energy systems. Utilizing a hybrid power system can help people become less dependent on renewable or traditional energy sources. The sensitivity analysis, optimization, cost savings, and decrease in greenhouse gas emissions are covered in this study. The Andaman & Nicobar Islands, India, face unique challenges in electricity generation due to their isolation and dependence on fossil fuels. This study investigates the techno-economic feasibility of hybrid renewable energy systems (HRES) as a sustainable and cost-effective alternative. The tool used for the optimization of power systems in the Andaman and Nicobar Islands is HOMER. The HOMER optimizes the power system combinations and gives results in terms of operating cost, total fuel consumption, return on investment, power generation etc. A comparison between the base model and the proposed model has been performed using HOMER and the result shows that the proposed model is economical and best suited in all respect.