Optimum Sizing and Economic Analysis of Renewable Energy System Integration into a Micro-Grid for an Academic Institution-A Case Study

摘要

1 Introduction World energy demand has been estimated to be greater than 800EJ by 2050. For this estimation, with the present scenario of escalating oil prices when considered, renewable energy could promise to be an alternate option as an energy resource [1]. Alternately, the global concern towards pollution and global warming has supported this cause. In recent years, there has been much technical advancement in renewable energy systems (RES) including the storage units. Many countries have been striving to reach their renewable energy target towards the global energy contribution; Australia being one among them.