Payback Periods of Three Identical Solar Photovoltaic Power Plants

Year 2019, Volume: 14 Issue: 4, 200 - 206, 26.10.2019

Fuat Lüle Turhan Koyuncu Ali İhsan Kaya

Abstract

Payback
periods of three (I, II and III) identical solar photovoltaic power plants
(SPPs) have been determined in this paper. SPPs were installed in Adıyaman location, Turkey (Latitude: 37.45°, Longitude: 38.17°
and Altitude: 672m) in 2017. Date of commencement of operation is
November 27, 2017, the installed power capacity is 1.025 MW, and the installation
cost is $1000000 of each SPP. The supply method for installation is 100% equity
capital and the sales price of the electricity to the grid is 0.133$/kWh. The
results of the work showed that the average annual electricity generation was 1696665kWh
of each SPP. The internal electric consumption is 10770kWh. Thus, net electricity
generation was 1685895kWh. The average payback period was 5.5 years for these
SPPs. 

Keywords

Solar PV Plant, Payback Period, Economic Analysis, Solar Photovoltaic Power Plant, Adıyaman

References

• [1] Chandel, M., Agrawal, G.D., Mathur, S., and Mathur, A., (2014). Techno-Economic Analysis of Solar Photovoltaic Power Plant for Garment Zone of Jaipur City. Case Studies in Thermal Engineering, 2, 1-7.
• [2] Costa, S.C., Diniz, A.S.A., and Kazmerski, L.L., (2016). Dust and Soiling İssues and İmpacts Relating to Solar Energy Systems: Literature Review Update for 2012–2015. Renewable and Sustainable Energy Reviews, 63, 33-61.
• [3] Darwish, Z.A., Kazem, H.A., Sopian, K., Al-Goul, M.A., and Alawadhi, H., (2015). Effect of Dust Pollutant Type on Photovoltaic Performance. Renewable and Sustainable Energy Reviews, 41, 735-744.
• [4] Foster, R., Ghassemi, M., and Cota, A., (2010). Solar Energy: Renewable Energy and the Environment (Chapter: 9, pp:231-246), First ed. CRC.
• [5] Goura, R., (2015). Analyzing the On-Field Performance of a 1-Megawatt-Grid-Tied PV System in South India. International Journal of Sustainable Energy, 34(1):1-9.
• [6] Kazem, H.A., Albadi, M.H., Al-Waeli, A.H., Al-Busaidi, A.H., and Chaichan, M.T., (2017). Techno-Economic Feasibility Analysis of 1 MW Photovoltaic Grid Connected System in Oman. Case studies in Thermal Engineering, 10, 131-141.
• [7] Ketjoy, N. and Konyu, M., (2014). Study of Dust Effect on Photovoltaic Module for Photovoltaic Power Plant. Energy Procedia, 52, 431-437.
• [8] Khatri, R., (2016). Design and Assessment of Solar PV Plant for Girls Hostel (GARGI) of Mnit University, Jaipur City: A case Study. Energy Reports, 2, 89-98.
• [9] Koyuncu, T., (2017). Practical Efficiency of Photovoltaic Panel Used for Solar Vehicles. 2nd International Conference on Green Energy Technology (ICGET 2017), 18–20, July, 2017, Rome, Italy.
• [10] Koyuncu, T., (2018a). Fundamentals of Engineering Science and Technology (Chapter 24, pp:461–485), First ed., www. amazon.com, Columbia, SC, USA.
• [11] Koyuncu, T., (2018b). Simple Payback Time of Semi-Flexible Monocrystalline Silicon Solar Panel Used for Solar Vehicles, 3rd International Conference on Green Energy Technology (ICGET 2018), 10-12 July, 2018, Amsterdam, Netherlands.
• [12] Koyuncu, T., (2019). New Generation Vehicles Vs Conventional Vehicles (Chapter: 17, pp:460–468), first ed., www. amazon.com, Middletown, DE, USA.
• [13] Kumar, E.S., Sarkar, B., and Behera, D.K., (2013). Soiling and Dust Impact on the Efficiency and the Maximum Power Point in the Photovoltaic Modules. International Journal of Engineering Research & Technology (IJERT), 2(2):1-8.
• [14] Kumar, B.S. and Sudhakar, K., (2015). Performance Evaluation of 10MW Grid Connected Solar Photovoltaic Power Plant in India. Energy Reports, 1, 184-192.
• [15] Maghami, M.R., Hizam, H., Gomes, C., Radzi, M.A., Rezadad, M.I., and Hajighorbani, S., (2016). Power Loss Due to Soiling on Solar Panel: A Review. Renewable and Sustainable Energy Reviews, 59:1307-1316.
• [16] Menoufi, K., Farghal, H.F., Farghali, A.A., and Khedr, M.H., 2017. Dust Accumulation on Photovoltaic Panels: A Case Study at the East Bank of the Nile (Beni-Suef, Egypt). Energy Procedia, 128, 24-31.
• [17] Omar, A., Ismail, D., and Muzamir, I., (2007). Simplification of Sun Tracking Mode to Gain High Concentration Solar Energy. American Journal of Applied Sciences, 4(3):171-175.
• [18] Shukla, A.K., Sudhakar, K., and Baredar, P., (2016). Simulation and Performance Analysis of 110 kWp Grid-Connected Photovoltaic System for Residential Building in India: A Comparative Analysis of Various PV Technology. Energy Reports, 2, 82-88.
• [19] Thumann, A. and Mehta, D.P., (2008). Handbook of Energy Engineering (Chapter 9, pp:271-276), sixth ed. CRC Press, Taylor & Francis, Boca Raton, FL, USA.