Techno-Economic Assessment of Hybrid Renewable Energy Systems for Sustainable Energy Supply

Abstract

This study investigates the feasibility of a Hybrid Renewable Energy System (HRES) as a sustainable and cost-effective solution for rural electrification in regions of India with limited grid access. The research focuses on identifying the optimal hybrid configuration and conducting a pre-feasibility techno-economic analysis for supplying reliable electricity to an engineering institution located in Avalahalli, Bengaluru, Karnataka (560049). The proposed HRES integrates multiple renewable sources and was modelled and optimized using HOMER Pro software. Simulation results indicate that the most economically viable configuration achieves the lowest Net Present Cost (NPC) and Levelized Cost of Energy (COE), along with a 100% Renewable Energy Fraction (REF). The optimal design comprises 6170 kW of photovoltaic (PV) arrays, a 93 kW G10 wind turbine, 28,780 batteries (83.4 Ah each), and 761 kW power converters, yielding a COE of $0.388/kWh, a minimum NPC of $44.1 million, and only 4.16% unmet load. The system effectively meets the daily energy demands of 22,644 kWh (DC) and 2,508 kWh (AC) while achieving zero carbon emissions. Moreover, the HRES demonstrates strong economic performance with a payback period of 3.61 years, a return on investment of 34.8%, and an interest rate of 39.8%, confirming its viability for rural electrification.