Economic Analysis & Power Management of a Small Hybrid Power System

The book focuses on the development of a deterministic approach for optimum sizing of the hybrid power system consisting of two renewable sources i.e. solar photovoltaic (PV) and wind plus one conventional source based on some algorithm, which can attain the optimum values of commercially available system devices ensuring that the system total investment and running cost is minimized while guaranteeing the electricity requirements of the customers and the safety of the system. For example if at the output end load changes, then our designed controller will adjust the output power in the most effective way i.e. will make it cost effective. Optimum values obtained of the system components during specific period are obtained including the number of solar PV modules, the solar PV module surface area, the number of wind turbines, wind installation height, battery banks and generator operating hours with their lowest system total investment costs. Additionally, a detailed analysis of the system total investment cost, structure of the hybrid solar PV, wind, batteries and generator and an impact of optimum system configuration on system performance are also compared.