Economic Analysis of Pv/Wind Grid Connected Microgrid System

This paper’s primary goal is to develop a photovoltaic hybrid energy system along with wind using a power plant to electrify rural regions in the important area (Nehru nagar, Kewra bagh, jahangirabad, Bhopal ) Madhya Pradesh. In India, where low consumer demand and significant transportation expenses result in extremely high power supply costs. To meet the current user’s power needs at the lowest possible energy cost, the system is developed and optimised as hybrid energy based power system according to parliamentary process. In order to optimise the simulation process, Electric Renewable (HOMER) optimization application uses a hybrid optimization technique. The most optimal size of the Solar and Wind with a combination of diesel generators for the regional hybrid bases power system is produced by simulation depend optimization. Compared to more usual suspects of dynamism, this method is much more cost-effective and environmentally-friendly and efficient. The findings support the usage of renewable energy sources at the chosen location, with a PV-Wind-Grid coupled system emerging as the most cost-effective RES with a COE of 0.0478$/kWh and Renewable fraction is 82.2%.