Techno-Economic evaluation of hybrid renewable energy sources for a University Campus

Saheed Lekan Gbadamosi, Aminat Oyeleke, Nnamdi I. Nwulu, O. M. Babatunde

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

Abstract

The fluctuation in fossil fuel prices and environmental pollution associated with conventional power generation has led to an increased adoption of renewable energy sources among university campuses. The purpose of this study is to optimally size an off-grid hybrid renewable energy system for a university campus in Nigeria. Furthermore, this study seeks to conduct a techno-economic evaluation of the proposed system using the HOMER software. Sensitivity analysis was carried out based on power generated, economic feasibility, and environmental considerations of the hybrid renewable energy system. Obtained results reveal that the proposed system leads to significant reduction of pollutants and an investment return during the fourth year of a 25-year investment lifetime. There is also cost savings of approximately $14,279,601 with a 31% return on investment and a positive net profit value of $17.4 million.

Original languageEnglish
Title of host publicationHandbook Of Renewable Energy Technology & Systems
PublisherWorld Scientific Publishing Co.
Pages449-468
Number of pages20
ISBN (Electronic)9781786349033
ISBN (Print)9781786349026
Publication statusPublished - 13 Aug 2021

Keywords

  • Cost
  • Electricity
  • Emission
  • Hybrid renewable energy
  • Optimal sizing
  • Technical and economic analysis
  • University

ASJC Scopus subject areas

  • General Engineering

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