Optimization and techno-economic analysis of photovoltaic-wind-battery based hybrid system

This research work focuses on a sizing-optimization of a hybrid multi-sources renewable energy system with electrochemical storage; these multi-sources are designed to supply the load demand of an industrial prototype. A heuristic approach based on a genetic algorithm is developed and programmed into MATLAB to solve the sizing-optimization problem. The objective function was considered by providing two minimums, namely the levelized cost of energy (LCE) and the loss of power supply probability (LPSP). Sizing-optimization solutions are obtained and analyzed using a time series energy exchange during a representative week in each season to decide the appropriate component size of a PV-Wind based hybrid system (PWHS). The lowest LPSP ratio corresponds to the higher LCE value and the opposite too. The optimal economic solution was: LCE = 0.1915 $/kWh for a given LPSP value, the correspondent PWHS configuration is composed of 9.5 kWp of PV panels, 1 kW of the wind turbine generator and 6.5 kWh of batteries capacities, thus represent a total present value (TPV) equal to 39541$. The experimental results occurred during a week in autumn; the measured energy flow of optimal PWHS configuration confirm at least 96.32% of the estimated energy production is reached.