TECHNO-ECONOMIC OPTIMIZATION OF HYBRID ELECTRICITY GENERATION SYSTEMS FOR OFF-GRID ISLANDS

The purpose of this research work is to provide an integrated techno-economic analysis and an optimal design of hybrid electricity power supply systems that incorporate autonomy and power supply stability with minimum cost. Three isolated Islands, namely, Lesvos, Karpathos and Astypalea, in the Aegean Sea, Greece, have been identified as the appropriate sites for the performance assessment of the off-grid hybrid power systems, due to the abundant renewable energy potential in the Islands, in conjunction with the rising fuel (diesel) prices under the influence of the current economic crisis. The relevant economic indices of the hybrid power systems have been optimized employing the Hybrid Optimization Model for Electric Renewable (HOMER) Simulation Software. Calculated results showed that hybrid wind/PV/diesel/battery power systems are competitive in terms of cost with diesel-only based power generation systems; the Levelized Cost of Energy (LCOE) values are estimated at 0.153 -/kWh for the Lesvos Island, 0.161 -/kWh for the Karpathos Island, and 0.191 -/kWh for the Astypalea Island.