In recent decades, investing in renewable and eco-friendly energy technologies, such as replacing clean energy systems instead of traditional ones and equipment management, is an interesting and practical topic in all sectors. This research analyzes the optimization of a hydro plant, wind turbines, and photovoltaic (PV) panels with a careful examination of three scenarios in the Hinnoya region, Norway. Three consumption scenarios—including an industrial/domestic load scenario, transportation load, and household load alone—for this region are considered. HOMER software is used to simulate and analyze the techno-economic performance of solar panels/wind turbines/grid/batteries and converters. The results of this research show that using renewable and eco-friendly systems in accordance with the region's potential leads to a lower cost of electricity generation. The COE production is at least 50% less than the normal sales price of the electricity grid. The use of electric grid exchanges results in energy modification at night. The potential for the use of onshore wind turbines is more than offshore turbines. The results also indicate that using renewable systems in the household field can reduce the COE by nearly 70% (0.0296 €/kWh), and in other energy fields (transportation and industrial) can diminish the COE by nearly 50% (0.055 €/kWh). Thus, increasing the percentage of employing renewable and eco-friendly energy systems leads to reduce greenhouse gas (GHG) emissions (particularly carbon dioxide)
