Modelling and techno-economic analysis of standalone SPV/Wind hybrid renewable energy system with lead-acid battery technology for rural applications

The present work discusses an enhanced optimal solution for electrifying an individual rural consumer in a northern Indian village. The optimisation and sizing assessment is based on the techno-economic and socio-environmental parameters. The real-time market-based design variables have been considered for the present investigation. The renewable resources are assessed by the PDAV tool from NASA linked to the HOMER-Pro software tool. A stand-alone hybrid renewable energy system is designed for the domestic load of 55.14 kWh/day and 11.71 kW peak demand. The comparative analysis finds the stand-alone Solar Photovoltaic and Wind energy hybrid renewable energy system suitable. The net present and energy costs are determined as $34,344 and 0.152$/kWh for an optimized Hybrid System. In the present work, the employment creation with social aspects of the renewable energy system is analysed in a distinguished manner. A novel approach is adapted for the environmental effect of hybrid energy systems. The sensitivity analysis and robustness viability has been performed for the optimized arrangement. In the scope of optimal sizing, an equivalent model of the hybrid energy system is recreated in Matlab/Simulink. Each Matlab/Simulink model section is analysed separately with better technical aspects for the different input parameters. •The techno-economic analysis is carried-out for hybrid energy system for rural consumer.•Simulink modelling is performed for optimal hybrid energy system.•The optimization and designing is performed for the four different domains.•The Net-Present Cost, Cost of Energy, Energy Generated, and Excess Energy, are measured.•A unique social and environmental aspect has been addressed.