Economic and financial assessment of integrated solar and wind energy system in Rajasthan, India

This paper presents analysis of solar PV, Small Wind Turbine hybrid energy system for application at Jaisalmer, Rajasthan. Three different cases of hybrid energy system is considered ranging from 5 kW to 100 kW. Case 1 include 4 kW solar PV and 1 kW small wind turbine, while Case 2 consider a 41 kW solar PV and three 3 kW Wind Turbine (total size 50 kW), and Case 3 includes the 100 kW system incorporating 70 kW Solar PV and 30 kW Wind Energy. The HOMER simulation was utilized to calculate total energy production, various cost of system, economic, and financial feasibility of all three cases. The financial feasibility in term of payback period and Internal Rate of Return in calculated using RETScreen software. All three cases are environmental friendly with reduced emission as compared to diesel / grid supply and economically feasible for various application.