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As the exhaust rate of the conventional sources has geared up already, this is compelling the power industries to install the power plants based on the non-conventional sources so that future demand of the energy supply can be fulfilled. Among the various sources of renewable energy like wind, hydro, tidal etc., solar energy is the most easily accessible and available renewable energy source. Ensuring the feasibility of any energy source not only technical but also the economical perspective is the most important criteria. This paper has incorporated both the perspective and has done the techno-economic analysis to determine the optimum combination of the PV array size and battery size to minimize the overall electricity generation per unit. In this paper, a standalone solar PV system has been analyzed for the location of Jamshedpur, where an effort has been done to choose the optimum combination of the solar array and battery size within the desired range of LLP so that the electricity generation cost per unit can be minimized. The overall duration of the analysis has been done for a year and the outcome of the research has been verified with the help of MATLAB software. [ABSTRACT FROM AUTHOR]

This paper presents optimal power flow management in real time for grid connected photovoltaic (PV)–battery system. The objective is the real time, dynamic and optimal scheduling of battery storage which reduces grid power consumption and achieves the peak load shaving. For this purpose, two strategies are developed; one is rule-based and other is optimization algorithm based. Two strategies are compared, pros and cons of those strategies are established. Though rule-based technique is simple & easy to implement, the optimization technique provides more optimal regulation of battery which provides the lesser electricity cost. Forecasted PV/load powers are used to get optimal value of battery power. In order to handle uncertainties due to forecasted data, fuzzy-based corrective strategy is developed to modify the reference battery power as per the present values of PV/load powers. The proposed analysis is carried out for over one exemplary day. The simulations are presented using typical load/PV data of India and Finland as a part of research collaboration. Experimental results are also carried out using proposed scheme. [ABSTRACT FROM AUTHOR]