Sizing Optimization and Techno-Economic Analysis of a Hybrid Renewable Energy System Using HOMER Pro Simulation

Hybrid renewable energy system (HRES) is the integration of multiple energy generating systems installed to generate energy from the renewable sources such as Solar Photovoltaic (PV), wind, bio-generator etc. It is very prudent to determine viable combinations, optimum sizing and to have a techno-economic analysis of HRES before its procurement and installation. In this study two optimum system was modelled using HOMER Pro (open-source version) to meet the electrical load demand of an institution located in Chennai (12.59°N and 80.14°E) and to get the minimum Net Present Cost (NPC) of the proposed system. Based on the modeling, for optimum-1 system the capacity factor and contribution percentage of PV, wind turbine and bio-generator was found to be 79.41%, 0.98%, 19.61% and 92.83%, 0.43%, 6.75%, respectively. And for optimum-2 system, it was 85.86%, 2.02%, 12.12% and 93.31%, 0.82%, 5.87%, respectively. Sensitivity analysis was carried out to find out the variations on NPC and Cost of Energy (COE) by adjusting the cost of PV, wind turbine, battery, converter, bio-generator and fuel, from 0.8 to 1.2 times of its present cost. Based on HOMER Pro simulation, the most feasible system obtained was optimum-1 which consists of 81 kW photovoltaics, 1 kW wind turbine, 20 kW biogas generator, 47.3 kW converter and lead acid battery (rated 101 Ah/12 V-150 numbers) with NPC at $ 1,84,687 to generate energy 1,35,978 kWh per year.