| This thesis presents an optimization model to design a hybrid renewable energy systems consisting of wind turbines, photovoltaic modules, batteries, controllers and inverters. To use this model, a data bank is required where detailed specifications and cost of the equipments must be available. It must also include the wind speed and solar radiation data for the desired site. Using the proposed optimization model with the data bank, the optimal configuration of necessary equipment required for the project to supply energy demand at the lowest possible cost is determined. To evaluate if the project is a good investment, an economic analysis is performed to calculate the net present value of the project over a period of 20 years. For the island of Puerto Rico we created a database of published wind speed and solar radiation. We applied the optimization procedure to residential loads at three different locations on the island. The results show that renewable energy projects are a good investment for Puerto Rico as long as the renewable system is connected to the utility grid benefiting from a net metering program, and is designed to supply the exact energy demand of the residential load. For systems not connected to the utility grid, places like the coast of Fajardo, where wind is abundant, the system is cost effective. But in parts of the island where wind speed is less, the system required the use of photovoltaic solar panels increasing the system cost. These systems have a payback period greater than 20 years. |
