Renewable integration for remote communities: Comparative allowable cost analyses for hydro, solar and wave energy

•RCOM model developed for renewable energy system analyses in remote communities.•Novel ‘allowable cost LCOE’ assessment for hydro, solar and wave energy systems.•Diesel mitigation potential of variable renewable energy systems quantified.•Wave energy as allowable LCOE of $0.59/kWh and $23,206/kW installed.•Impact of resource variability, fuel cost, and emission pricing on allowable LCOE.