Economic Analysis of Renewable Energy Systems for Rural Electrification

The optimum hybrid energy system is described in this study in terms of emissions, price, and other aspects. All the calculations were performed by HOMER Pro software. With the use of HOMER software, this project aims to create an energy production model connected to an HRES combination at a location in Maharashtra, India. The outcomes of the study have been seen in NPC, O&M, COEs, and RF of energy systems. This study was conducted in Solapur, Maharashtra. Due to good data on wind and sun renewable energy resources, this area was chosen. The HOMER program, which is only adequate for these analyses, was used for all of the comparisons. This paper compares and demonstrates the ideal location for the suggested HRES model. The proposed hybrid renewable energy system is most suited for biofuel generators among the other two systems based on the following factors: initial cost, renewable fraction, COE, emission, and area of electricity generation.