Economie analysis of off grid and on grid hybrid power system

Electrical energy generation from renewable energy sources has increased drastically in the last decade. It is from stand alone systems in remote areas where grid supply is not available or from large power plant integrated to grid. Now the grid connected distributed renewable energy generation on the roof top of the building is also accepted as a viable source of electrical energy. Integration of the distributed hybrid power system (HPS) with grid may be off grid or on grid depending up on the utility. In this paper these two systems are modelled and analysed with photovoltaic (PV) module and wind mill as renewable energy sources (RES). The technical and financial modelling of each component of the HPS are done to simulate both systems to determine yearly energy cost of off grid and on grid premises for various ratings. The results are also compared with convention grid.