Hybrid Energy Systems (HES) offer hopeful solutions to an array of challenges circumventing conventional energy usage. From sustainable mobility developments to rural communities, hybrid energy systems can provide reliable energy to suffice any load demand when properly sized. Sizing optimality is essential in maintaining low-cost, high-performance and superior efficiency. The methodology for sizing a Photovoltaic-Wind-Diesel with battery backup hybrid energy system and its accompanying costs are calculated using Homer software. The results are presented in this article. Such costs include the concept of levelized cost of energy (LCOE), time-dependent trade-off considerations necessary to deploy a functional, reliable and cost-effective energy system and comfort. The anticipated output of this economic model validates the feasibility of attaining affordability and optimality in a HES that relies on renewable energy and battery storage for applications of varying scales.
Size Optimization of a Solar-wind Hybrid Energy System Using Two Simulation Based Optimization Techniques
