Prosumer potential assessment and techno-economic feasibility analysis of rural electrification

The expansion of the industrial sector and the continuous increase in population are the reasons for the ever-increasing demand for electricity, which directly burdens the central grid. Absence and remoteness from the central grid make off-grid power generation the most reliable source of electricity to meet the needs of peripheral areas. Electrification of remote areas through decentralized generation using renewable energy sources has emerged as a low-cost and practically viable solution. Domestic-level energy trading makes the system more cost-effective. This study develops a hybrid energy model consisting of PV and diesel generators to electrify a remote village, considering the feasibility analysis of consumer-prosumer-based energy trading potential. First, resource evaluation and total load demand are estimated at the selected site, then system sizing optimization and techno-economic feasibility are evaluated using HOMER Pro software. Based on the optimized system, a new system is proposed and developed using HOMER Pro software to investigate the energy trading potential. Economic rationality is checked using the economic parameters of net present cost, levelized cost of electricity, initial capital, and operation and maintenance cost of the system. A sensitivity analysis is performed further to evaluate the system's feasibility under different conditions. This study fills the energy trading sector gap by providing a more efficient and cost-effective simulation-based study. The results show that the proposed system has a 22 % lower net present cost, 66 % lower levelized cost of electricity, 25.5 % lower operation and maintenance cost, and 4.36 % lower initial cost.