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Abstract The impacts of climate change, combined with the depletion of fossil fuel reserves, are forcing human civilizations to reconsider the design of electricity generation systems to gradually and extensively incorporate renewable energies. This study aims to investigate the technical and economic aspects of replacing all heavy fuel oil (HFO) and light fuel oil (LFO) thermal power plants connected to the electricity grid in southern Cameroon. The proposed renewable energy system consists of a solar photovoltaic (PV) field, a pumped hydroelectric energy storage (PHES) system, and an ultra-capacitor energy storage system. The economic and technical performance of the new renewable energy system was assessed using metrics such as total annualized project cost (TAC), loss of load probability (LOLP), and loss of power supply probability (LPSP). The Multi-Objective Bonobo Optimizer (MOBO) was used to both size the components of the new renewable energy system and choose the best location for the solar PV array. The results achieved using MOBO were superior to those obtained from other known optimization techniques. Using metaheuristics for renewable energy system sizing necessitated the creation of mathematical models of renewable energy system components and techno-economic decision criteria under MATLAB software. Based on the results for the deficit rate (LPSP) of zero, the installation of the photovoltaic field in Bafoussam had the lowest TAC of around 52.78 × 10 6 € when compared to the results for Yaoundé, Bamenda, Douala, and Limbe. Finally, the project profitability analysis determined that the project is financially viable when the energy produced by the renewable energy systems is sold at an average price of 0.12 €/kWh.
Amoussou et al. (Sat,) studied this question.