Comparative techno-economic analysis of various stand-alone and grid connected (solar/wind/fuel cell) renewable energy systems

Abstract

This article proposes a hybrid energy model comprising of various stand-alone and grid-connected energy systems including grid-connected hybrid, off-grid hybrid, fuel cell-photovoltaic, fuel cell-wind turbine, photovoltaic-wind turbine, wind turbine, and photovoltaic to fulfill the power requirements of an educational institute in Pakistan. These systems have been developed, simulated, and optimized for techno-economic feasibility, taking into consideration the electricity demand profile, geographic regions, and climatic data. A sensitivity analysis has been conducted to determine the most economical systems for producing 0.90079 MWh of energy per day. Simulation results show that the net present cost of the grid-connected hybrid system is between M$ 1.536859 and M$ 6.818162, while the cost of energy is between $ 0.155 and $ 0.3749 per kWh. The fuel cell -wind turbine system incurs a maximum energy cost of $ 0.3749/kWh. The solar and grid-connected hybrid systems offers the lowest net present cost and cost of energy, which are M$ 1.536859 and $ 0.155/kWh, respectively. The research findings suggest that utilizing photovoltaic, wind, and fuel cells is a more feasible and economical strategy due to system benefits. The study also showed the viability and efficiency of using solar and wind resources for hydrogen production and power generation. Additionally, the study demonstrated that hydrogen is a more affordable option for long-term energy storage than batteries.