Economic Feasibility Analysis of a Grid-Connected Hybrid Renewable Energy System for Rural Applications in Jaisalmer, Rajasthan

Abstract

This study examines the economic feasibility of a grid-connected hybrid power system integrating solar PV and wind turbines for rural applications in the Jaisalmer region of Rajasthan, situated at 26.91° N latitude and 70.91° E longitude, near the Indo-Pak border. The assessment involves analyzing wind and solar energy potential using data gathered from various sources. The Hybrid Optimization Model for Electric Renewable (HOMER) software is utilized to evaluate system performance and cost-effectiveness. Two configurations—grid-connected and off-grid—are designed and optimized for comparison. Additionally, a sensitivity analysis is conducted to evaluate the impact of fluctuations in grid electricity prices on overall system costs. The simulation results indicate that the grid-connected hybrid system is the most cost-effective and viable solution for the region.