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

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