Review of Optimization Tools Used for Design of Distributed Renewable Energy Resources

This paper going to review the different optimization tools used in the distributed energy systems. Optimization tools are generally used to size the individual renewable sources.as well as used to analysis the economic part of the system in terms of cost of Energy (COE), Net present cost (NPC), Internal rate of return (IRR), simple payback period, Operating cost and capital cost of system. Due to rapid development in technology, various optimization tools such as Genetic Algorithm, Machine Learning Algorithm, Fuzzy logic, Artificial Intelligence was developed by the researcher for optimize hybrid renewable energy system (HRE). Because of global warming, penetration of renewable energy in the grid, commercial building, educational building and residential consumer was increasing gradually and it is very important to have a optimization tool to check the feasibility of the project before going for the real time installation of HRE system. In this paper various optimization tools used by the researcher is going to be investigated in detailed.