A critical review on techno-economic analysis of hybrid renewable energy resources-based microgrids
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Date
2023
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Abstract
Now that the population is growing, the expenditure on basic needs of life
is also increasing due to a lack of or less availability of resources. The economy con sumed electricity is reaching peaks as its main fuel, coal, is decreasing day by day.
Due to this, 90% of the population who are in the middle class, lower middle class,
or rural areas are economically poor and are unable to bear the prices. To overcome
the fnancial problems, many researchers have prepared various types of microgrids
that generate electricity from various types of fow resources, like hydro, solar, biogas,
and air current power stations, whose system is called a compound fow power
system. This paper gives a combined review of various research papers that discuss
some case studies and some research on various models designed on software
like HOMER Pro, how microgrids become economic barriers, optimal power supply
solutions with CFPS, distributed and centralized microgrid components, the technical
and economic feasibility of EV charging stations, and the analysis of various combina tions of power systems at various locations like Bangladesh, Canada, the Republic
of Djibouti, China, Indonesia, Sierra Leone, some rural sites in India, and some devel oping countries. This overview provides a glimpse into the various aspects of CFPS,
including fusion approaches, techno-economic analysis, simulation platforms, storage
technologies, design specifcations, unit sizing methodologies, and control techniques.
Further research and analysis in these areas are needed to explore their applications
and advancements in CFPS development. The main reason for the study is to analyze
and bring various ideas and models of various researchers together on a common
platform and make a combined conceptual framework for further proceedings.