Techno-Economic Analysis on Solar and Wind Assisted Standalone Microgrid

A techno-economic analysis was carried out for standalone microgrid systems powered entirely by renewable energy. It includes various scenarios like solar energy with battery energy storage, pumped hydro storage, power to hydrogen system, hybrid solar energy, and wind turbine with battery energy storage and pumped hydro storage. Each scenario, as per its configuration, consists of solar PV of 1 kW rated capacity and a wind turbine of 1.5kW. For storage, lead acid batteries of 1 kWh, pumped hydro storage of 245kWh, and hydrogen power is used. The microgrid has a peak annual load of 88.22kW and daily average demand of 800kWh. The energy technologies were designed, modeled and simulated using HOMER Pro, and the energy economics, balance, and environmental emissions were examined and compared among suggested scenarios. The “National Renewable Energy Lab (NREL)” and “National Aeronautics and Space Administration (NASA)” provided meteorological statistics for simulation in HOMER Pro of Burla, Odisha site to assess system performance. A sensitivity analysis was performed to determine design resilience against uncertainties like fuel price and hub height. The simulation results demonstrated that a Pumped Hydro Storage based hybrid renewable energy system has the least net present cost and levelized cost.