This paper aims to find an efficient optimization algorithm to bring down the cost function without compromising the stability of the system and respect the operational constraints of the Hybrid Renewable Energy System. To accomplish this, MATLAB simulations were carried out using three optimization techniques: Grey Wolf Optimization (GWO), Teaching–Learning-Based Optimization (TLBO), and Multi-Objective Particle Swarm Optimization (MOPSO). The study compared their outcomes to identify which method yielded the most effective performance. The research included a statistical analysis to evaluate how consistently and stably each optimization method performed. The analysis revealed optimal values for the output power of photovoltaic systems (PVs), wind turbines (WTs), diesel generator capacity (DGs), and battery storage (BS). A one-year period was used to confirm the optimized configuration through the analysis of capital investment and fuel consumption. Among the three methods, GWO achieved the best fitness value of 0.24593 with an LPSP of 0.12528, indicating high system reliability. MOPSO exhibited the fastest convergence behaviour. TLBO yielded the lowest Net Present Cost (NPC) of 213,440 and a Cost of Energy (COE) of 1.91446/kW, though with a comparatively higher fitness value of 0.26628. The analysis suggests that GWO is suitable for applications requiring high reliability, TLBO is preferable for cost-sensitive solutions, and MOPSO is advantageous for obtaining quick, approximate results.
Chowdhury et al. (Thu,) studied this question.