Review of Techno-Economic Analysis Studies Using HOMER Pro Software

With decreases in cost accompanying advances in technology, renewable energy is becoming increasingly viable. Much software is available for the techno-economic analysis of energy systems, and HOMER Pro software is frequently applied for micro-grid and industrial analysis. Around the globe, techno-economic analyses of a variety of renewable energy systems have been undertaken using HOMER Pro Version 3.16.0. This study reviews the primary techno-economic findings of past research to investigate recent trends. Based on high-level trendline analysis, it appears that the costs of renewable energy systems have decreased in academic HOMER Pro-based literature. Of the articles analyzed, the LCOEs for 100% renewable energy systems have decreased from $0.91/kWh to $0.70/kWh, while the LCOEs for 0% renewable energy systems have increased from $0.74/kWh to $0.78/kWh.