Techno-Economic and Viability Analysis of Incorporating Rooftop Solar Photovoltaic and Natural Gas Generators in Educational Institution

Abstract

This research paper investigates the viability and advantages of putting in place a modified hybrid microgrid system at an academic campus to mitigate adverse environmental impacts and enhance energy sustainability. Utilizing HOMER Pro software, we conducted a comprehensive comparative analysis between a base case, relying chiefly on generation of fossil - based energy, and our proposed hybrid model incorporating Energy storage and geothermal energy. The analysis reveals a powerful reduction in harmful emissions with the hybrid system, achieving approximately a 50% decrease in pollutants such as CO₂, SO₂, and NO_x compared to the base case, directly contributing to improved air quality and a reduced in carbon footprint. Economically, the hybrid system demonstrates superior performance across varying Nominal Discount Rates (NDR). At an NDR of 8%, the hybrid model exhibits a Net Present Cost (NPC) of $5,845,200.51, significantly lower than the base case's $10,181,815.25. Similarly, at an NDR of 12%, the hybrid model's NPC stands at $4,283,849.55, a reduction of approximately 40% compared to the base case's $7,297,728.42. Furthermore, a sensitivity analysis of fuel prices indicates that the hybrid system is less susceptible to market fluctuations, consistently showcasing lower NPC, Cost of Energy (COE), and operating expenses as fuel prices for both diesel and natural gas increase by increments of $0.2/m³. The study underscores the practicality and ease of deployment of the hybrid system at our specific project location, highlighting its adaptability to existing infrastructure and geographical conditions. In summary, the results strongly advocate for the adoption of our modified hybrid model, demonstrating its potential to achieve a cleaner, more economically viable, and sustainable energy system for academic campus by significantly reducing emissions and costs while being easy to integrate into the current infrastructure. This project showcases the ability to reduce both environmental impact and financial burdens.