Economic Cost Analysis of Stand-alone hybrid Microgrids with minimum COE using HOMER
Noting the finiteness of fossil energies and also the existing multiple obstacles in the development and construction of concentrated production resources and creation of transfer lines, using Microgrid (MG) is increasing rapidly in the world. This paper deals with the optimal cost analysis of the proposed MG system for islanded operation using Hybrid Optimization Model for Electric Renewable (HOMER) software with the ultimate goal to minimize Cost of Energy (COE). The done analysis is presented to optimize MG based on the Total Net Present Cost (TNPC), Levelized Cost of Energy (LCOE) and operating cost. Simulations results are carried out with the proposed system using real life experimental data, to test the performance and accuracy of the system. Overall results obtained demonstrate the effectiveness of the proposed method, covering of total consumption power as well as to reduce COE.
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