TY  - JOUR
TT  - THE VIABILITY OF RESIDENTIAL GRID-CONNECTED SOLAR PHOTOVOLTAIC SYSTEMS IN THE STATE OF INDIANA
AU  - Al-odeh, Mahmoud
AU  - Schafer, Marion
AU  - Badar, M. Affan
AU  - Peters, Randy
PY  - 2016
DA  - December
DO  - 10.17261/Pressacademia.2017.360
JF  - Journal of Business Economics and Finance
JO  - JBEF
PB  - Dilek TEKER
WT  - DergiPark
SN  - 2146-7943
SP  - 376
EP  - 388
VL  - 5
IS  - 4
KW  - Net present value
KW  - internal rate of return
KW  - payback period
KW  - residential solar PV system
KW  - renewable energy
KW  - State of Indiana
N2  - While the use of green energy has gained popularsupport and efforts have been made to market it, few studies have investigatedthe economic advantages and the savings that could be gained by implementinggreen solutions for energy challenges. This study aims to measure the financialviability of installing and using a residential grid-connected photovoltaic(PV) system in the State of Indiana while predicting its performance ineighteen geographical locations within the state over the system’s expectedlifetime. A systematic approach of six steps was used to collect and analyzethe data. The analysis has been condcutded using engineering economic methodsincluding payback period, net present value (NPV) and internal rate of return(IRR). It has been found that installing a PV system for a single familyresidence in the State of Indiana will not pay for itself within 25 yearsassuming the average cost of a system. The government incentive programs arenot enough to offset the cost of installing the system against the cost of theelectricity that would not be purchased from the utility company.
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UR  - https://doi.org/10.17261/Pressacademia.2017.360
L1  - https://dergipark.org.tr/en/download/article-file/378964
ER  -