TECHNO-ECONOMIC FEASIBILITY OF A HYBRID SYSTEM FOR RENEWABLE ENERGY PRODUCTION IN EDO, NIGERIA : A HOMER PRO OPTIMIZATION /
ASSUMPTUS KPEMOSA AASHIKPELOKHAI ; SUPERVISOR: ASST. PROF. DR. ADUN HUGH HUMPHREY
- x, 62 sheets: tables, graphs; 30 cm. + 1 CD-ROM
Thesis (MSc) - Cyprus International University. Institute of Graduate Studies and Research Energy Systems Engineering Department
Includes bibliography (sheets 58-62)
The accelerating global demand for sustainable energy solutions has prompted a surge in research aimed at identifying viable strategies for integrating renewable energy sources into existing power systems. Employing the advanced simulation capabilities of Homer Pro, this research evaluates the optimal combination of solar, wind, grid and generator resources to enhance energy production while minimizing costs and environmental impact and searches for most techno-economically feasible hybrid system. The methodology involves a comprehensive resource assessment, considering the region's climatic conditions, geographical features, and sunlight availability. The economic feasibility is assessed by considering factors such as capital and operational costs, lowest cost of electricity, and the overall return on investment. The findings aim to provide valuable insights into the potential of hybrid renewable energy systems in Edo, highlighting the technical and economic viability of adopting such solutions to meet the region's growing energy demands. Additionally, the research contributes to the ongoing discourse on sustainable development in Nigeria, a cleaner and more sustainable energy option to replace fossil fuel generators, by offering practical recommendations for policymakers, investors, and energy stakeholders. As the world transitions towards a low-carbon future, understanding the feasibility and optimization of hybrid renewable energy systems becomes imperative for fostering energy security and mitigating the adverse impacts of climate change in regions like Edo, Nigeria. Using HOMER Pro software, several configurations involving standalone solar photovoltaic, wind turbine, grid, and generator were conducted. The results from this study highlight a PV-Grid system as the most feasible option with an energy production of 11,320 kWh/yr which meets the yearly demand of 8577.5 kWh/yr and has a renewable fraction of 80.3% and in cost comparison does have an LCOE of 0.007$ which is the economic measure of the lifetime cost of generating electricity for the selected hybrid system. Finally, by highlighting the significance of incorporating renewable energy solutions to solve urgent environmental issues and advance Nigeria towards a more resilient and sustainable energy future, this thesis academically contributes to the growing body of knowledge on sustainable development.