Techno-Economical Planning of an Off-Grid Integrated Renewable Energy System

Abstract

This paper focuses on reducing the LCOE (Levelized Cost of Energy), the unmet load, Net Present Cost (NPC) and the greenhouse gas emissions by the utilization of an optimized off-grid integrated renewable energy system. The LCOE has been reduced by 14.8% of that of DG and by 28.6 % of Diesel Generator (DG) with Battery System, whereas the NPC has been reduced by 14.7% of DG only system and by 28.7% of DG with Battery System. A comparison analysis has also been presented based on the performance of the proposed system and most recently published similar studies. To achieve these objectives, an optimization algorithm has been developed and simulated in Hybrid Optimization Model for Multiple Energy Resources (HOMER) software with different combinations of IRES, DG and battery systems. Similarly, intending to analyze the feasibility and performance in terms of the technical and economic aspects of the proposed system, HOMER is used. Based on the obtained results, broadly, it is examined that the proposed system decreases diesel consumption by around 8113 liters/year and the total emissions of greenhouse gas by about 21545 kg/year in the study area; thereby, it can be foreseen as a viable and sustainable option(s) for the development of more such systems in remote locations.