Optimum Sizing and Economic Analysis of Renewable Energy System Integration into a Micro-Grid for an Academic Institution—A Case Study

Renewable energy sources have been gradually supported either as energy sources as grid supported or as stand-alone systems in recent years. Hybrid energy systems comprising of Renewable energies are preferred to supply power at different locations due to their stochastic behavior and efficient utilization. In this paper, the optimal design and sizing of the renewable energy resources like solar panels and wind turbine connected to the grid is considered and studied. The optimal sizing and their economic feasibility is addressed for Victoria University at the St Albans campus in Melbourne using HOMER.

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