Cost-benefit analysis of hybrid wind-solar power generation by homer power optimization software

Abstract

HOMER power optimization software for evaluation of design and performance of both off-grid and gridconnected power systems has been applied for cost-benefit analysis of a wind-solar hybrid power generation system. Comparison was also made with the cost per kilowatt of grid power supply. The hybrid system had a pay-back period of about thirty-three years. The central grid power was the least expensive option, but might not be available to most rural households far from the grid. Hence, the autonomous distributive system of hybrid power generation was advantageous.