Review on Optimum Sizing of Stand-Alone Hybrid Renewable Energy Sources

Numerous non-renewable resources (RES) are harvested to meet the ongoing demand for electricity. A single RES cannot satisfy fluctuating load demands, so hybrid RESs are being developed. The hybrid solar and wind energy system are the best alternatives for environmentally friendly power generation. At the same time, a large system size leads to higher system costs. Therefore, this paper presents a review for optimum sizing of HRES. This paper examines various sizing methodologies for standalone hybrid renewable energy sources (HRES). In this paper, various optimization methods and hybrid algorithms for different HRES are discussed, in which 25.80 % of the papers reviewed optimization algorithm-based sizing methods, and 22.58 % of the papers elaborated different approaches for optimum sizing. Moreover, 11.21 % of the papers reviewed for hybrid approaches for sizing of standalone HRES. By analyzing the papers, it has been observed that most of the papers considered loss of power supply probability (LSLP), localized cost of energy (LCOE), Levelized cost of energy (LCE), and net present cost (NPC) to attain the optimum sizing of HRES.