Table 4 Summary of the standard analyzing metric of HRES
From: A critical review on techno-economic analysis of hybrid renewable energy resources-based microgrids
Class | Title | Elucidation |
|---|---|---|
Financial metrics | Profit price ratio | The goal is to determine the relationship between a prospective venture’s benefits and associated costs |
Price | A variety of measures, including but not limited to net present value (NPV), cost of energy (COE), cost of energy/renewable energy (RE), anticipated cost per unit of consumed power, and other pertinent indicators, are frequently used to assess the costs related to systems | |
Yield | The yield is the discount rate at which the analyzed project's net present value (NPV) decreases to zero | |
Cost of load balancing | It includes all costs related to the capital and operational aspects of every element required for effectively using renewable energy (RE) | |
Recoupment period | It assesses the rate at which the system’s cash flows may recoup the initial investment, taking into account indicators like the simple payback period (SPBP) and the dynamic payback period (DPBP) | |
Technological metrics | Energy conservation | the efficiency with which the system uses power from renewable (RE) sources |
Irreversibility | It represents the unstoppable loss of energy | |
Useful energy production | the process of producing energy that is useful and suitable for use in industry | |
Deployed renewable energy share | It stands for the electricity/heat generated throughout the system from renewable energy (RE) sources | |
Renewable share | The percentage of renewable sources that have been incorporated and installed in renewable energy (RE) systems is referred to as the renewable fraction | |
Climate metrics | Carbon footprint | This statistic constantly takes into account both current carbon emissions and carbon emission decreases |
Societal metrics | Employment generation | It emphasizes the quantity of brand-new work that each system is expected to produce |
Affected population | It measures how much the locals can gain from the renewable energy (RE) grid [117]. It can also be calculated by taking into account the areas that benefited, which gives the number of square meters (m2) per unit of power [118] |