Renewable energy conversion systems for global emission neutralization

Abstract

Fossil fuel power plants still play an essential role in providing energy worldwide, but their environmental impact will contribute significantly to emissions and environmental pollution. To reduce these emissions, renewable energy offers a solution to reduce global emissions. This study proposes a renewable energy modeling system using hybrid optimization of multiple energy resources (HOMER) simulation on renewable energy systems for economic savings. This simulation can combine photovoltaic (PV), wind power (WP), and converter systems. The hybrid combination of PV and WP is the most appropriate and economical choice at the research location. The results showed that the modeling of the renewable energy hybrid system made a significant contribution, with an initial investment cost of IDR 107,474.43 million and an annual operating cost of IDR 22,540.23 million, 41% lower on condition now with an estimated return on investment of 11 years. The results of this study can be used as recommendations for similar conditions in other places. Policymakers can use this model to provide incentives and have a positive impact on hybrid power plants (HPS) in neutralizing global emissions.