Techno-economic analysis of a grid-connected hybrid wind-solar system: A case study in Austin, Texas

The study proposes a hybrid system design integrating wind and solar resources beginning with a survey and evaluation of the power generation prospects of wind and solar sources. A model is developed and simulated using HOMER software with Austin, Texas, USA, identified as the reference area. Considering the local weather conditions and the power demands of the concern office building, a grid-connected hybrid power system is proposed. A proposed system structure includes the necessary modules, such as a solar photovoltaic cell, a wind turbine, and an inverter. Outputs derived through the HOMER software include solar irradiation analysis, wind speed values, and power production values from both sources. Apart from power supply to the building, the system is designed to direct excess power supply to the grid, thus creating a financial return. The proposed design, known as the "Hybrid Tower," offers an optimized integration of wind and solar energy system designed to maximizing power generation during day and night hours. Optimization of any module in the system is performed considering technical and economic evaluation using simulation tools. This study verifies the feasibility of an economically viable, grid-connected hybrid power solution, with a focus on local conditions, thus providing both economic and environmental benefits. Based on the conducted analyses and obtained results, it was determined that the system will yield an annual efficiency of 13.7%. Additionally, according to the performed evaluations, the utilization of a dual-axis tracker enhances the energy penetration into photovoltaic panels and increases power generation by 7–31 %, contingent upon the environmental and technical conditions of the system. The most significant advantage and distinguishing feature of this hybrid tower, compared to conventional separate solar and wind systems, lies in its capability to simultaneously harness the potential of solar radiation and wind energy over a 24-hour period.