Techno-Economic Analysis of a Hybrid Renewable Microgrid for Saint Martin’s Island

This study develops a comparative techno-economic optimization framework for a stand-alone PV–wind–battery–diesel microgrid for Saint Martin’s Island, Bangladesh, using 8760-hour meteorological and load data. Three metaheuristic algorithms, NAGA, GWO, and ABC, are evaluated under identical decision variables, objective functions, constraints, and operating conditions, enabling a fair comparison of their sizing performance. The proposed framework simultaneously considers cost, reliability, renewable penetration, fuel consumption, and emissions. ABC achieved the best overall solution with an LCOE of 0.18249 USD/kWh, NPC of USD 311,973, renewable fraction of 94.90%, and LPSP of 0.9234%. Sensitivity and salvage-value analyses further demonstrate the robustness of the economic findings and identify the key parameters affecting microgrid cost.