Multi-objective optimization of Smart Integrated Renewable Energy System (SIRES)

Global energy shortage and environmental impacts of fossil fuels is leading to increased interest in renewable energy technology. Several approaches such as microgrids, hybrid systems have been proposed for the development of rural areas. However, these systems only supply electricity to remote rural areas. Smart Integrated Renewable Energy Systems (SIRES) is proposed as a means to harness renewable energy in a cost effective and viable manner to fulfill needs such as cooking, domestic water and irrigation water in addition to electricity. To meet these needs, a multi-objective optimization using Particle Swarm optimization (PSO) is developed in this paper. A tradeoff between the Annualized Cost of System (ACS), Carbon Emission Cost (CEC) and a novel reliability index called Need Fulfillment Probability (NFP) are analysed. Results obtained for SIRES are compared to microgrid for the same amount of needs.