Economic analysis of stand alone and grid connected hybrid energy systems

In this paper, a pilot area has been selected and the renewable energy potential for this region has been evaluated making energy cost analysis. The study evaluates the feasibility of utilizing solar and wind energy with hydrogen as storage to meet the electricity requirements of the pilot region in conjunction with the conventional grid based electricity. In order to simulate the operation of the system and to calculate the technical and economic parameters, micropower optimization program HOMER (NREL, US) has been used. HOMER requires some input values such as technological options, cost of components, resource compliance and the program ranges the feasible system configurations according to the net present cost (system cost) using these inputs. The pilot region where the renewable based energy will be used is determined to be Electrics& Electronics faculty, Istanbul Technical University.