| Summary: | This thesis explores how hybrid renewable energy systems can be used to power homes in Iceland. Two cases are studied, on the one hand, a homes that are powered by a diesel generator (off-grid) and on the other hand, systems that are initially connected to the grid. The cost impact of adding solar panels and/or battery storage to those systems is explored. Using the specialized software HOMER, different combinations of solar panels and battery storage were examined - with the aim of finding the most cost-effective solution. Results show that homes powered by diesel generators can save considerably if solar panels and/or batteries are added. This hybrid approach significantly reduced fuel consumption and operating costs, showing promise for remote areas in Iceland. The case study for households connected to the electricity grid did not yield as much savings. While these hybrid systems are not as financially viable, they can result in lower energy costs over time. The study highlights the importance of government incentives. With the right incentives, these solutions can be made more adaptable for homeowners.
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