Optimum Sizing and Economic Assessment of Hybrid Microgrid for Domestic Load Under Various Scenario

Abstract

Electricity price, various duties related to electricity bill and environmental concerns are increasing. Due to technological advancement and mass production, the cost of solar modules and energy storage system is going down. The number of consumers is growing by having the Solar Home System (SHS) transform from consumer to prosumer. The present assessment aims to analyze the techno-economic feasibility of residential households in Karnal, India, under three scenarios: a grid-connected net-metering system without feed-in tariff, feed-in-tariff and an off-grid system. It would help the consumer to choose the best configuration as per their geographical location. The study's outcome shows that a grid-connected system will require less investment, and it will be more economical with a feed-in tariff policy. Government support will motivate the peoples towards SHS to reduce carbon emission along with financial and social benefits.