Economic verification of hybrid energy utilizations with HOMER pro

Abstract

This study gives emphasis to the economic analysis of hybrid Energy systems which are gradually paid attention by researchers worldwide as a new way to cope with climate change and sustainable development. The economic cost is an important feature that restricts the development of hybrid energy system. The purpose of this study is to verify the economic characteristics of hybrid energy system with HOMER Pro software. Firstly, the economic characteristics of different single energy sources are investigated. Secondly, the economic performances of different hybrid energy systems are analyzed and compared. The research results show that our simulations based on HOMER Pro software have good agreement with those in reference cases. In the future, a unified economy evaluation will be carried out for these hybrid energy utilizations.