Abstract
The hybrid renewable energy system (HRES) can meet the required energy of the demand by choosing the best design parameters related to specification and quantities using an optimization process. This study tests and optimizes a standalone HRES encompassing Photovoltaic (PV) panels, wind turbines, battery elements, fuel cells, water electrolyzers, and hydrogen tanks. A tri-loops optimization problem with an innovative multi-objective solving technique was employed in this article. The new solving technique depends on a normalization process with different weighting factors. The proposed technique converged to the optimal solution quickly and accurately, as confirmed by the MATLAB simulation results. When taking into account a weighting factor of 0.5 for both the initial investment cost and the running cost functions, the total investment cost of the entire project is reduced by 30.5% and achieves a system efficiency of 80.98% for the spring month (April). Conversely, in the winter month (January), the total capital cost records $233,050 and system efficiency is 82.42%, achieving no change when the weighting factor is changed from 1 to 0.5.