Generation unit sizing and cost analysis for stand-alone wind, photovoltaic, and hybrid wind/PV systems

This paper presents the results of investigations on the application of wind, photovoltaic (PV), and hybrid wind/PV power generating systems for utilization as stand-alone systems. A simple numerical algorithm has been developed for generation unit sizing. It has been used to determine the optimum generation capacity and storage needed for a stand-alone, wind, PV, and hybrid wind/PV system for an experimental site in a remote area in Montana with a typical residential load. Generation and storage units for each system are properly sized in order to meet the annual load and minimize the total annual cost to the customer. In addition, an economic analysis has been performed for the above three scenarios and is used to justify the use of renewable energy versus constructing a line extension from the nearest existing power line to supply the load with conventional power. Annual average hourly values for load, wind speed, and insolation have been used