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 language | English |
|---|---|
| Title of host publication | Handbook Of Renewable Energy Technology & Systems |
| Publisher | World Scientific Publishing Co. |
| Pages | 449-468 |
| Number of pages | 20 |
| ISBN (Electronic) | 9781786349033 |
| ISBN (Print) | 9781786349026 |
| Publication status | Published - 13 Aug 2021 |
Keywords
- Cost
- Electricity
- Emission
- Hybrid renewable energy
- Optimal sizing
- Technical and economic analysis
- University
ASJC Scopus subject areas
- General Engineering
