Optimal Sizing and Economic Evaluation of a Photovoltaic Integrated Energy System - A Case Study for a Semi-Urban Area in Sri Lanka

Sri Lanka is a tropical country with abundant renewable energy resources. Therefore, high penetration of them into electrical grid can reduce the Cost of Energy (COE) of electricity as well as greenhouse gas emissions. This paper investigates the feasibility of developing a Photovoltaic Integrated Energy System (PVIES) for Sri Lankan concept by following a case study of a semi-urban area. Optimization and sensitivity analysis are carried out by Hybrid Optimization of Multiple Energy Resources (HOMER) software. Authors present a generalized process to utilize HOMER with a detailed analysis. Case study results are taken for two main operation modes, namely; grid-connected, off-grid and compared them with grid only configuration. The optimum PVIES is obtained by considering the economic plus environmental benefits, which illustrates in grid connected (PV-Grid) mode, COE has reduced by 15% compared to the grid only mode. Furthermore, related sensitivities for the considered operation modes are analyzed.