Techno-Economic Evaluation of Various Hybrid Energy Systems Optimization for Rural Bangladesh

This study presents a joint technical and economic analysis of hybrid energy solutions, emphasizing their practicality for rural Bangladesh. It promotes a comprehensive assessment to identify the most effective and sustainable energy systems for these regions. Bangladesh is currently facing energy challenges like load shedding and environmental concerns from reliance on fossil fuels. Thus, integrating renewable sources with fossil fuels offers a sustainable solution. The objective of this paper is to analyze energy demand, optimize system performance, evaluate economic feasibility, and assess designs for both off-grid and on-grid hybrid renewable energy systems using HOMER Pro software. This study specifically targets a remote area, Char Atra in Naria Upazila, Bangladesh. The key innovation of this research lies in its being the first to conduct an extensive techno-economic evaluation for Char Atra, emphasizing optimized resource use. The research analyzes three systems: two off-grid and one on-grid. The simulation results show that the minimum cost of energy is $0.187/kWh and $0.202/kWh for the off-grid systems, and $0.0647/kWh for the on-grid system. The renewable-only off-grid system has the highest excess electricity (24.4%) and the longest payback period (3.52 years). Conversely, the grid-tied system has the shortest payback period (3.2 years) and lowest excess electricity (0.24%). The sensitivity analysis evaluates the hybrid system's viability and resilience under various environmental conditions, renewable resource costs, availability, and fuel price changes. In addition to guiding future decisions on deploying hybrid systems, this research helps integrating sustainable and renewable energy sources in rural Bangladesh.