Optimal design of a grid-connected hybrid renewable energy system: a case study of an industrial enterprise

The article has considered renewable energy sources with high energy potential, which in the near future will become the fastest growing source of electricity. Generation sources include solar, wind, and biomass resources, which contribute to economic growth and reduce pollution. Optimizing the renewable and sustainable energy project is a key factor as a reliable alternative to conventional hydrocarbons, as well as as an energy source. It can play a significant role in the future of renewable and sustainable energy in Iraq. In the work, Helioscope and HOMER Pro software are used to create a small model connected to a network and to estimate energy consumption for optimization purposes. The results have showed an internal rate of return of 12 %, as well as about 8.5 % return on investment, and the share of the renewable energy component is almost 99.7 %. The proposed method proved to be effective in terms of using renewable energy. The research can be applied in any country, especially in the neighboring countries of Iraq.