Techno-economic comparison of various renewable energy sources for hybrid system implementation

Abstract

The current trends in electro-energetics indicate, that due to depletion of fossil fuels and the need of CO2 emission reduction, there is and will be a substantial development in the fields of renewable energy sources, decentralization and accumulation of electricity using battery energy storage systems in the near future. Along with the increasing power demand and penetration of renewables into electric grids, there is a need for energy mix expansion. Hybrid renewable energy sources (HRES) combine several renewables and energy storage into one system and can be used for micro-grid implementation for off-grid application or on-grid. The article is focused mostly on off-grid systems and provides an information about current state of renewable energy sources applications in HRES with techno-economic evaluation of net present cost and levelized cost of energy.