Economic Assessment of PV Wind based HRES including Battery Storage and FC

Access to a reliable electricity source is a pivotal determinant for enhancing community living standards, impacting areas such as healthcare, education, and local economies. When assessing micro-grid systems, the pivotal considerations revolve around cost-effectiveness and the quality of service provided. This study delves into optimizing a Hybrid Renewable Energy System (HRES) to harmonize costs and reliability. The investigation is centered on a grid-connected HRES with three primary configurations: hybrid wind/PV, wind/PV/battery, and wind/PV/FC systems, with grid power as a backup to bolster sustainability. The crux of our optimization focuses on minimizing the net present cost of the system, factoring in considerations like power reliability, The parameters considered encompass the state of charge (SOC) of batteries as well as the upper and lower thresholds for PV and batteries. An algorithm for power management is deployed, and the Multi-Objective Particle Swarm Optimization (MOPSO) technique is harnessed to infer the most suitable system configuration and component dimensions. Within this optimization framework, reliability is assessed through the loss of power supply probability (LPSP), which quantifies the dissimilarity between load power and generated power. Both technical (LPSP) and economic (COE) factors are concurrently scrutinized for the most advantageous design. A comparison of sizing is conducted between a PV/wind/battery system and a PV/wind/FC system. Throughout the paper, methodologies for modeling HRES components are introduced, and the results underscore the efficacy of the MOPSO optimization model in right-sizing the components for distinct locations.