Integrating Solar and Wind Energy: A Technical and Economic Perspective

Jinendra Rahul, Ramesh Kumar Pachar

Abstract


This paper presents a comprehensive economic and technical analysis of a hybrid solar and wind energy microgrid system. Utilizing HOMER software for simulation, it evaluates the feasibility of integrating solar photovoltaic (PV) panels and wind turbines in a microgrid to meet energy demands efficiently and cost-effectively. The study considers key parameters such as capacity shortage, energy costs, and system components, including PV, wind turbines, storage systems, converters, and the grid. The economic analysis reveals the Total Net Present Cost (NPC) and Levelized Cost of Energy (LCOE), offering insights into the financial viability of the hybrid system compared to traditional energy sources. The technical analysis focuses on energy production, consumption, and system efficiency, highlighting the performance of individual components and the overall reliability of the microgrid. The findings demonstrate the potential for significant cost savings and enhanced energy security through the adoption of hybrid renewable energy systems. The study concludes with recommendations for policymakers and stakeholders, emphasizing the benefits of renewable energy integration and the importance of supportive policies to facilitate the transition to sustainable energy solutions.

Keywords


Economic and Technical Analysis; Hybrid Microgrid; Renewable Energy Integration; Solar Photovoltaic (PV); Wind Turbines

Full Text:

PDF

References


Gielen, D., Boshell, F., Saygin, D., Bazilian, M. D., Wagner, N., & Gorini, R. (2019). The role of renewable energy in global energy transformation. Energy Strategy Reviews, 24, 38-50.

Rogelj, J., den Elzen, M., Höhne, N., Fransen, T., Fekete, H., Winkler, H., ... & Meinshausen, M. (2016). Paris Agreement climate proposals need a boost to keep warming well below 2 °C. Nature, 534(7609), 631-639.

Gupta, A. K., Tripathi, P., & Dadhich, S. (2022). Optimal Sizing of DG Solar Wind Hybrid System Using HOMER. In Smart Energy and Advancement in Power Technologies: Select Proceedings of ICSEAPT 2021 Volume 1 (pp. 775-784). Singapore: Springer Nature Singapore.

IRENA. (2021). Renewable Energy and Jobs – Annual Review 2021. International Renewable Energy Agency. https://www.irena.org/publications/2021/Oct/Renewable-Energy-and-Jobs-Annual-Review-2021

Tripathi, P., Dadhich, S., & Gupta, A. K. (2022). Cost Analysis of PV–Wind Hybrid Energy System. In Technology Innovation in Mechanical Engineering: Select Proceedings of TIME 2021 (pp. 53-61). Singapore: Springer Nature Singapore.

Sinha, A., Ranjan, R., Gupta, A. K., & Jain, V. K. (2020, December). Techno-economic feasibility analysis of off-grid electrification for remote areas: a review. In 2020 9th international conference system modeling and advancement in research trends (SMART) (pp. 463-467). IEEE

REN21. (2021). Renewables 2021 Global Status Report. REN21 Secretariat. https://www.ren21.net/reports/global-status-report/.

Deshwar, C. S., Sharma, R., Gupta, A. K., & Singh, M. S. (2020, February). Assessment and Scope of Decentralised Power Generation Using Renewable Energy Resources. In Proceedings of the 4th International Conference: Innovative Advancement in Engineering & Technology (IAET).

Zhang, Y., Wang, L., & Liu, X. (2020). Energy storage solutions for renewable energy microgrids: A review. Renewable Energy, 145, 1316-1331.

Shekhawat, K., Doda, D. K., Gupta, A. K., & Bundele, M. (2019). Decentralised Power Generation Using Renewable Energy Resources: Scope Relevance and Application. International Journal of Innovative Technology and Exploring Engineering, 8(9).

Yang, H., Hu, J., & Wu, J. (2021). Integration of smart grid technologies in renewable energy microgrids. Journal of Electrical Engineering & Technology, 16, 2345-2355.

Chen, J., Xu, Z., & Li, J. (2022). AI-based predictive maintenance and optimization in renewable energy microgrids. Energy AI, 5, 100037.

Dadhich, S., Meena, P., Singh, S., & Gupta, A. K. (2019, November). A feasibility study of microgrids in India. In 2019 8th international conference system modeling and advancement in research trends (SMART) (pp. 343-347). IEEE.

Borghetti, A., D’Ambrosio, G., & Sordi, G. (2020). Advanced forecasting and control techniques for integrating solar and wind energy. Renewable Energy, 150, 1109-1121.

Kaldellis, J. K., Kapsali, M., & Zafirakis, D. (2021). Economic evaluation of hybrid wind-solar power systems. Renewable and Sustainable Energy Reviews, 127, 109883.

Kumar, S., & Kothari, S. (2022). Hybrid renewable energy systems: A techno-economic analysis. Energy Reports, 8, 381-396.

Chung, S. H., Lee, J. Y., & Choi, S. H. (2023). Economic impacts of solar and wind energy integration: Job creation and local development. Renewable Energy Focus, 41, 26-35.

Das, S., Sen, S., Ghosh, S., & Chatterjee, P. (2023). Hybrid renewable energy systems: Current trends and future perspectives. Renewable and Sustainable Energy Reviews, 165, 112442.

Sinha, S., & Chandel, S. S. (2022). Review of recent trends in optimization techniques for hybrid renewable energy systems. Renewable Energy, 179, 1181-1193.

Mishra, A., Singh, R., & Kumar, R. (2021). A comprehensive review on hybrid renewable energy systems: Current challenges and future directions. Energy Reports, 7, 832-847.

Kumar, R. R., Gupta, A. K., & Kumar, A. R. (2017). Design and Simulate the Solar-Wind-Diesel Stand-Alone System for an Institutional Area. International Journal of Computer Applications, 165(12).

Zhang, Y., Wang, L., & Liu, X. (2023). AI-enabled hybrid renewable energy systems: Innovations, challenges, and future prospects. Energy AI, 2, 100025.

Lambert, T., Gilman, P., & Lilienthal, P. (2021). HOMER software for microgrid design: Current status and future directions. Renewable and Sustainable Energy Reviews, 135, 110174.

Bhandari, B., Poudel, S. R., & Lee, K. T. (2015). Review on HOMER software: A tool for optimization of hybrid renewable energy systems. Renewable and Sustainable Energy Reviews, 49, 527-5.