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Sustainability
Volume 14
Issue 20
10.3390/su142013684
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Article

An Analysis of Renewable Energy Technology Integration Investments in Malaysia Using HOMER Pro

by
Muhammad Aqil Afham Rahmat
1,
Ag Sufiyan Abd Hamid
2,*,
Yuanshen Lu
3,
Muhammad Amir Aziat Ishak
1,
Shaikh Zishan Suheel
1,
Ahmad Fazlizan
1 and
Adnan Ibrahim
1,*
1
Solar Energy Research Institute, Universiti Kebangsaan Malaysia, Bangi 43600, Selangor, Malaysia
2
Faculty of Science and Natural Resources, Universiti Malaysia Sabah, Kota Kinabalu 88400, Sabah, Malaysia
3
Faculty of Engineering, Architecture and Information Technology, The University of Queensland, St Lucia, QLD 4072, Australia
*
Authors to whom correspondence should be addressed.
Sustainability 2022, 14(20), 13684; https://doi.org/10.3390/su142013684
Submission received: 25 September 2022 / Revised: 11 October 2022 / Accepted: 19 October 2022 / Published: 21 October 2022
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Abstract

Renewable energy systems are technologies that can generate electricity from solar, wind, hydroelectric, biomass, and other renewable energy resources. This research project aims to find the best renewable energy technology combinations for several scenarios in Malaysia. The strategies are analysed by evaluating the investments in the renewable energy systems in each of the decided scenarios in Malaysia, Pekan, Pahang and Mersing, Johor, using HOMER Pro software. The finding shows that the PV–wind hybrid system has a better net present cost (NPC) than the other systems for both scenarios, which are USD −299,762.16 for Scenario 1 and USD −642,247.46 for Scenario 2. The PV–wind hybrid system has 4.86-year and 2.98-year payback periods in Scenarios 1 and 2. A combination of RE technologies yielded fewer emissions than one kind alone. The PV–wind hybrid system provides a quicker payback period, higher money savings, and reduced pollutants. The sensitivity results show that resource availability and capital cost impact NPC and system emissions. This finding reveals that integrated solar and wind technologies can improve the economic performance (e.g., NPC, payback period, present worth) and environmental performance (e.g., carbon dioxide emissions) of a renewable energy system.
Keywords: renewable energy; HOMER Pro; solar PV and wind; investment analysis renewable energy; HOMER Pro; solar PV and wind; investment analysis

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MDPI and ACS Style

Rahmat, M.A.A.; Abd Hamid, A.S.; Lu, Y.; Ishak, M.A.A.; Suheel, S.Z.; Fazlizan, A.; Ibrahim, A. An Analysis of Renewable Energy Technology Integration Investments in Malaysia Using HOMER Pro. Sustainability 2022, 14, 13684. https://doi.org/10.3390/su142013684

AMA Style

Rahmat MAA, Abd Hamid AS, Lu Y, Ishak MAA, Suheel SZ, Fazlizan A, Ibrahim A. An Analysis of Renewable Energy Technology Integration Investments in Malaysia Using HOMER Pro. Sustainability. 2022; 14(20):13684. https://doi.org/10.3390/su142013684

Chicago/Turabian Style

Rahmat, Muhammad Aqil Afham, Ag Sufiyan Abd Hamid, Yuanshen Lu, Muhammad Amir Aziat Ishak, Shaikh Zishan Suheel, Ahmad Fazlizan, and Adnan Ibrahim. 2022. "An Analysis of Renewable Energy Technology Integration Investments in Malaysia Using HOMER Pro" Sustainability 14, no. 20: 13684. https://doi.org/10.3390/su142013684

APA Style

Rahmat, M. A. A., Abd Hamid, A. S., Lu, Y., Ishak, M. A. A., Suheel, S. Z., Fazlizan, A., & Ibrahim, A. (2022). An Analysis of Renewable Energy Technology Integration Investments in Malaysia Using HOMER Pro. Sustainability, 14(20), 13684. https://doi.org/10.3390/su142013684

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