Abstract

This paper discusses the cost optimization and sensitivity analysis of standalone and hybrid microgrids in remote areas. The hybrid microgrid considered in this paper comprises a diesel generator (DG), wind turbine (WT), and solar PV unit. Cost optimization and sensitivity analysis have been performed by changing diesel price, solar irradiation, and wind speed. The proposed approach in this paper can work for the progress of rural places by using a cleaner, eco-friendly environment based on renewable energy sources (RESs) to acquire load requirements. For the simulation studies and economic expediency, a remote village, named Kotapokhari in Khordha District, Odisha, India, is considered. The Hybrid Optimization Model for Electric Renewable (HOMER) Pro software is used for analyzing the economic feasibility of the proposed hybrid microgrid. The best combination of the microgrid for minimal net present cost and cost of energy was found. Further, the sensitivity analysis and emission by pollutants and load sharing of different components of the standalone microgrid were formulated. The suitability and cost-effectiveness of the proposed hybrid power system are validated from simulation results.

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