Economic Analysis Of Hybrid Electric Power Generation Using Homer Pro

Abstract

Development of Energy infrastructure is vital for development of any nation. With abundant human waste resource and tropical climate, India has plenty of opportunities to tap energy from non fossil renewable energy sources. In this work, an academic institutions’ hostel load is considered. In order to get self sustainable energy supply, the three hybrid distributed energy generation system components chosen for this work are Solar – Biomass – Battery, Solar – Biomass and Wind – Biomass which are site specific and viable. The objective of the present work is to find optimal hybrid energy system among these three by choosing corresponding input fuel quantities as sensitivity variables. The parameters taken for considerations from the optimal simulation results are Net Present Cost (NPC) and Cost of Energy (COE). Also, the present work focuses to find feasible economic solution by using Homer Pro Software by considering inflation rate and discount rate in India. Both of the cases are simulated and solar – biomass – battery system is found to be most economical for the given load.