Are all of the components modeled with equal accuracy or were some way off requiring a different modeling approach?

HOMER cannot model all components with equal accuracy.

Batteries are the most difficult component to model.

The HOMER documentation clearly states all of the equations and assumptions used in the modeling. We have found that uncertainties in key inputs (load size, wind speed, fuel price, discount rate) swamp inaccuracies in the model.  Significant input uncertainty argues for a simple, transparent model coupled with a sensitivity analysis capability.

That's a fair description of HOMER.