Techno-Economic Feasibility Analysis of Hybrid System

This paper presents an overview of the techno-economic feasibility analysis of hybrid renewable energy system (HRES) of interest that can be used in smart cities. A case study of an institutional area of New Delhi is carried out to compare the various configurations of HRES using hybrid optimization model for electric renewable (HOMER) software and choosing the best configuration among them on the basis of various parameters which are prerequisite for the development and sustainability of a smart city. These configurations were considered in two different modes, grid-connected and the isolated mode, and were compared on the basis of economic parameters like calculation of cost of energy, net present cost, and life cycle cost of the plant, technical aspects, and the impact on the environment. The HRES model proposed here serves a load demand of 3113 kWh/day. After performing the load data analysis and simulation, the results showed that the grid–PV–battery hybrid system configuration could bring financial benefits, improve the power reliability and energy security and lead to less greenhouse gas emissions and thus reducing the cities’ impact on the environment.