Techno economic optimization of solar photovoltaic wind hybrid system for rural electrification

Abstract

At present standalone solar photovoltaic wind systems have been promoted around the globe on comparatively larger scale These independent systems cannot provide continuous source of energy as they are seasonal Hence energy storage systems will be required for each of these systems in order to satisfy the load demands Usually storage system is expensive and newlinethe size has to be reduced to a minimum possible for the renewable energy system to be cost effective Hybrid power system can be used to reduce energy storage requirements A hybrid renewable energy system that combines the generation of power through solar and wind system is installed to meet the load demand of a particular location which has adequate solar insolation and wind velocity The method for optimization of PV wind hybrid system for a specific location involves an iterative scheme based on Deficiency of Power Supply Probability Relative Excess Power Generated Life Cycle Cost Levelised Energy Cost and Life cycle Unit Cost newlineand pay back period The influence of the DPSP REPG Energy to Load Ratio fraction of PV and wind energy and coverage of PV and wind energy against the system size and performance are analyzed newline