Economic Analysis and Simulation of Solar PV, Wind Turbine Hybrid Energy System Using HOMER pro

Abstract

The aim of this study is the simulation and optimization of renewable hybrid energy system. The hybrid energy system includes solar PV, wind turbine, converters and battery storage system. Homer is a computation software used for this work that it is simulation model that analyzed the sizing, costing optimization and control strategy of the hybrid energy system. This paper determines the optimal renewable power generation system architecture for one of the largest metropolitan cities in Canada, Victoria metropolitan city. Hybrid energy systems feeding AC primary load of 2047.1 kWh/day energy consumption with a 290.62 kWh peak load demand. The simulation results indicate that optimized components and optimized cost of energy (COE) about 2.04 $, with 19.7 M$ of net present cost (NPC) and 100% of renewable fractions. The excess electricity in the suggested framework is observed to be 64.3%.