Branker, K., Pathak, M.J.M. and Pearce, J.M. (2011) A Review of Solar Photovoltaic Levelized Cost of Electricity. Renewable and Sustainable Energy Review, 4470-4482.
ABSTRACT: The main purpose of this paper is to present the analysis of cost optimization of Hybrid Renewable Energy System in remote area where grid connection is impossible. The analysis of hybrid system is modeled using HOMER software. Homer software is utilized as an assessment with modeling tools that simplifies the task of evaluating designs option for both off-grid and on-grid-connected system that allows load data and parameters to be inputted. In this paper, HOMER is used to find the most cost effective configuration among set of different simulated system to achieve the objective of least possible Levelized Cost of Energy (LCOE) for a given system under a propose load of 75 kW.