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Due to ever increasing energy demand and depletion of conventional energy resources, renewable energy is being promoted throughout the globe. The Government of India initiated a large number of schemes for encouragement of renewable energy for power generation and to make it competitive with fossil-based energy options like coal, oil etc. Keeping these initiatives in mind, this paper aims to optimize several hybrid energy system models consisting of solar PV, diesel generators and grid. Optimization is based on the techno-economic analysis of renewable as well as grid connected hybrid systems in HOMER software. The comparison is based on per unit cost of electrical energy production, operating cost of conventional fossil fuel based energy sources and reduction in green house gases.
Usman et al. (Wed,) studied this question.