Sizing and energy management of grid-connected hybrid renewable energy systems based on techno-economic predictive technique

This study intends to construct and optimally run a grid-connected hybrid renewable energy system (HRES) powering a residential building. A special techno-economic multi-objective optimization technique is used for sizing the HRES. In addition, an energy management strategy (EMS) is established as a distinct multi-objective optimization problem to minimize degradation and operating costs while improving system performance. A Bi-level mixed integer non-linear programming (BMINLP) is the framework used to formulate the two-optimization problems. Sizing problem is characterized by the higher level, on contrast; the nested EMS problem within the constraints of the size problem is presented on the lower level. For this investigation, the problem is executed via the MATLAB program. The global optimization toolbox is applied via the Multi-Objective Genetic Algorithm (MOGA) to solve the sizing optimization. While the EMS is executed using the "Intlinprg" mixed integer linear programming (MILP) solver. The technical and economic performance parameters such as degradation, renewable energy fraction (REF), operating, maintenance, and investment costs are evaluated in this study. The primary results reveal that the summer week encounters the lowest total cost and the highest REF, at roughly 99484 $ and 60 %, respectively. Furthermore, the investigation shows that the lowest degradation value attained in the same week with approximately 50.