Multi Objective Optimization of Lifecycle Cost, Unmet Load, and Renewable Energy Capacity for an Expansion of Existing Standalone Internal Combustion Generator (ICG) Systems Available to Purchase

Expanding existing Internal Combustion Generator (ICG) systems by incorporating renewable energy sources is getting popular due to its potential to reduce the emission of Green House Gases (GHG) and fuel consumption. Designing such Hybrid Energy System (HES)s become challenging due to the seasonal variation of renewable energy sources resulting either poor reliability of power supply or higher expenditure, which makes it essential to optimize Levelized Energy Cost (LEC), unmet load fraction and renewable energy capacity at the early design stages. This study evaluates the results obtained through such optimization based on evolutionary algorithm. In order to accomplish this, mathematical modeling and simulation of a stand-alone HES was carried out along with the optimization. Obtained results shows that both wind and Solar PV (SPV) capacity is having a significant impact on LEC, unmet load fraction and fuel consumption.