Now-a-days renewable energy resources like solar, wind and hydrogen must be developed in order to stabilize and reduce carbon dioxide emissions. Efficiency slows down the demand growth so that rising clean energy supplies can make deep cuts in fossil fuel use. Otherwise if energy use grows too first, renewable energy development will chase receding target. Different generations of Photovoltaic (PV) cells with their efficiency rate and scope of their use, in regards to practical application with economic fall outs, were also spell out from the case study. Currently, photovoltaic (PV) panels only have the ability the ability to convert 16% of the sunlight that hits them into electricity. Many experts believe that the solar energy is not efficient enough to be economically sustainable given the cost to produce the panel themselves. Cost of PV being shown to be the main contributor in terms of deciding the economy of PV –based power generation scheme. Presently the economy evaluation of solar PV and solar heating like solar cooker, solar pond etc. were assessed here in regards to their merit and demerit.In concern with different aspects on cost evaluation for on-shore and off-shore wind energy regarding the development of wind firm at particular site were assessed. In order to avail the wind energy value per square meter at a concerned site for a particular wind speed could also be ascertained. A wind firm is a group of wind turbines in the same location used to produce electric power. A large wind farm may consist of several hundred individual wind turbines and cover an extended area of hundreds of square miles. A rigorous study in different corners on the economy of the production of hydrogen in terms of splitting water that is electrolysis was made and it was noted that the ocean thermal energy conversion system generated electricity would be the best cost effective method. On examination it has been found that H2 fuel cell combine as transport fuel, it could be shown that a single 100 MW ocean thermal energy can cater to 30 hydrogen refueling stations, each with 250 vehicle movements per day.Feasibility study is carried out on optimized hybridization of combination of PV –wind with H2, for uninterrupted power supply at different concerned areas.

Solar Energy, Wind Energy, Solar Pond, PV module, Wind speed, Hydrogen energy, Electrolysis, Hybrid System

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