Technoeconomic Analysis of a Hybrid Energy System for an Academic Building

This work is mainly based on the optimal design of a standalone Hybrid Renewable Energy System (HRES) consisting of PV/diesel/battery systems, implemented in an academic building. Different hybrid system configurations such as PV-diesel generator-battery, diesel generator-battery, and PV-diesel generator are compared based on Net Present Cost (NPC) and Cost Of Energy (COE) to find out the best economically viable and environmentally friendly solution. Li-ion and lead-acid batteries were taken into consideration, and the optimization was done in HOMER PRO software. The PV-DG-Li-ion battery configuration emits approximately 2825387kg/year CO2 whereas the conventional DG system emits 4565074kg/year. It is concluded that the PV-DG-Li-ion battery configuration provides the cleanest and most environment-friendly and techno-economically feasible solution.