The Potential of a Solar & Wind Hybrid System in Sri Lanka
Abstract: As many other countries, Sri Lanka strives to become 100% renewable by 2050 through reducing their dependence on fossil fuels and implementing more renewable sources such as solar and wind power. A solution to the problem is therefore to install solar and wind hybrid systems. The country's geographic location near the equator makes the solar radiation high and can therefore be used to achieve the energy goal by 2050, both in an economical and environmental way. This study is therefore investigating Sri Lanka's potential to implement a solar and wind hybrid system. The aim of this study is to examine whether it is economically and environmentally profitable to construct a solar and wind power hybrid system in a household in Sri Lanka. The goal is to find the most economical optimal dimension of a solar and wind hybrid system that is also environmentally sustainable. By compiling a literature study about the solar and wind hybrid system, an optimization could be made in the optimization programme HOMER. Data was collected for solar and wind power costs and Sri Lanka’s daily consumption of energy. Then HOMER produced the most optimal dimension of a solar and wind hybrid system. The economical methods that were used were the net present value, the payback method and the internal rate of return, which all were solved in HOMER to reach the optimal dimension. The result showed an optimal dimension consisting of 5 kW PV and 1 kW wind power, which resulted in a profitable investment with a payback of 4 years and 10 months, and a NPV of 27,000 USD and also an internal rate of 20.6%. In addition, the renewable fraction was 48.5% for a household. Beyond the economical results a sensitivity analysis was made, which did not change the result for the optimal dimension. The conclusion can be drawn that the optimal dimension of the hybrid system is economically profitable and will befriend Sri Lanka’s goal of 100% renewable energy by 2050. However, even if the result showed a profitable investment, the investment costs are high, which means that only a few would afford the investment of a solar and wind hybrid system.
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