Abstract:
Hybrid Energy Systems (HESs) are becoming attractive solution for both grid connected and stand-alone applications. A number of factors need to be considered in designing HESs where multi-objective optimization becomes useful. Multi-objective optimization is used in this study to arrive at optimum systems designs for a grid connected HES considering Levelized Energy Cost (LEC) and Level of Grid Integration (LGI) as objective functions. Sensitivity analysis was conducted subsequently, considering factors like equipment cost and cost of grid electricity.