Economic analysis of standalone and grid connected hybrid energy systems

A pilot region was selected and cost analysis of using renewable energy sources with a hydrogen system for that region’s energy demand is introduced, in a techno-economic perspective, in this paper. The renewable energy potential for the region was evaluated by implementing energy cost analysis. The study also evaluates the feasibility of utilizing solar and wind energy with hydrogen as a storage unit to meet the electricity requirements of the pilot region as a standalone system and in conjunction with the conventional grid based electricity.