An Economic Analysis of Grid-connected Hybrid Energy Systems

Abstract

In this article, a pilot area was selected and the renewable energy potential for this region has been evaluated by making an energy cost analysis. The study evaluates the feasibility of utilizing solar and wind energy with hydrogen as a backup power unit to meet the electricity requirements of the pilot region in conjunction with conventional grid-based electricity.

In order to simulate the operation of the system and to calculate the technical/economical parameters, micropower optimization program HOMER was used. HOMER requires some input values for the area and ranges the feasible system configurations according to the net present cost (system cost) using these inputs.

The pilot region where the renewable based energy will be used is determined to be The Electrics and Electronics faculty, Istanbul Technical University.

Keywords:

• economic modelling
• hybrid energy systems
• optimization