Cost and sensitivity analysis of a microgrid using HOMER-Pro software in both grid connected and standalone mode

This paper presents an economical expediency of grid connected hybrid (PV/Wind turbine) power system for remote village in Khurdha District, Odisha(20.1301°N,85.4788° E)in India. The work is an approach towards the betterment of rural areas providing a cleaner ecofriendly environment by using renewable energy resources to meet the load requirements. The analysis is carried out by investigating the potentials of wind and solar energy and collecting data from different sources. Hybrid Optimization Model for Electric Renewable (HOMER) Pro software is used to analyze the available data and economic feasibility of the proposed hybrid power system. In this paper, two types of models named off-grid and on grid are designed and optimized for comparison purposes. Also, sensitivity analysis has been performed for each model in order to determine the effect of variations in grid energy cost on its total cost. The simulation results indicate that the proposed grid connected hybrid (PV/Wind turbine) power system is most suitable and cost competitive for the mentioned region.