Techno-economic evaluation for hybrid renewable energy system: Application and merits

Hybrid renewable energy system (HRES) has been widely utilized on national, regional or building levels, as its ability of reducing carbon emissions and easing energy consumption intensity. Techno-economic analysis of HRES is essential to embody its superiority and identify what kind of system and corresponding considerations are needed for a certain situation. This paper presents a comprehensive review of techno-economic analysis methods for the systems at national, regional and building scales. All methods are discussed in a comparative way including 31 computer tools and 20 arithmetical models. Main features, applications and merits of these methods are introduced and compared in detail regarding the analyzed space. Problems such as improper use of analysis methods or ignoring specific considerations may occur in the process of HRES designing and evaluating. As a result, a framework is proposed for techno-economic analysis of HRES at different spatial scales, including promising analysis process, research constraints and recommended tools for fulfilling different objectives. This framework provides critical references for researchers, decision makers and system designers, further supporting the application of future HRES.