Abstract
Industrial sector is the major contributor in the rapidly increasing energy consumption demand in correlation with increasing technological advances. Grid connected hybrid renewable energy systems (HRESs) are the effective solution for commercial or industrial establishments due to their long-term cost effectiveness, elimination of grid supply dependability and decreased Environmental impact. This paper presents the design of a renewable energy power system with optimized load minimization for a commercial establishment with provision of surplus energy production that can be utilized to claim monetary incentives offered by Net-Metering or for other high-powered applications. The paper considers a typical office in New Delhi, India to develop a techno-economic profile. The proposed model is novel in its combination and coordination of multiple generation systems, i.e., Photovoltaic (PV) panels, Semi-Transparent Solar System, Wind energy conversion system (WECS), Battery energy storage system (BESS) in conjunction with load minimization using HVAC and innovative IoT application. HOMER (Hybrid Optimization Model for Electric Renewable) was used in combination with MATLAB/Simulink for economic analysis, size optimization, technical evaluation, and simulation of the model.
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