Techno economic feasibility analysis of hybrid energy system

Today's world is facing great challenge of saving their future in terms of energy in next generation. In India, there are abundances of remote villages that are located far away from the grid. These areas normally lack electricity supply because either it is very impracticable to extend the utility grid or it is not feasible economically. As a result, such areas are normally powered by diesel generator to maintain for the demand of electricity. It increases environmental pollution. Further, an increase global fuel prices will have great impact to this community. The renewable energy application has become an important alternative as power provider in rural electrification and for standalone power application. Renewable energy sources have the major advantages for low carbon emission in comparison with conventional energy sources which is rapidly decreasing. But one of the major challenges in harvesting renewable energy sources is the intermittent nature of available energy sources like wind, solar etc. In this paper, we have considered several test conditions for techno economic feasibility analysis of hybrid energy systems. The powerful HOMER software is used for the present study.