Abstract
Increasing interest in renewable energy-based power systems globally is driven by their abundance and environmentally friendly attributes. Islanded hybrid microgrid systems (IHMS) are a relatively new development in this field and involve the integration of two or more sustainable sources, such as wind turbines, solar photovoltaic (PV) systems, and other forms of renewable energy such as the ocean, wave, and geothermal energy. In order to ensure an uninterrupted power supply for the growing community and industrial sector of Perhentian Island, Malaysia, alternative power sources must be properly synchronized and managed through an energy management system. To this end, the main contribution of this study is the comprehensive analysis of various optimization methods in terms of net present cost (NPC) and convergence rate. The several deterministic and stochastic optimization approaches are applied to obtain the optimal number of different energygenerating modules, the most economically attractive to be able to fulfil the load demand for a small community in Pulau Perhentian, Malaysia, considering the meteorological pattern of the area.