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TECHNO-ECONOMIC FEASIBILITY OF DIFFERENT PHOTOVOLTAIC TECHNOLOGIES

Authors:

Muharrem Hilmi Aksoy1

, Murat Ispir1

1Konya Technical University, Faculty of Engineering and Natural Sciences, Dept. of Mechanical Engineering, Konya, Turkey

Received: 4 December 2022
Revised: 5 February 2023
Accepted: 14 February 2023
Published: 31 March 2023

Abstract:

This study modeled monocrystalline (mono-Si), polycrystalline (poly-Si), and amorphous silicon (a-Si) Photovoltaic (PV) systems with a 300 kWp installed power using PVsyst software in Konya province, Turkey. The system’s electricity generation was calculated and compared with different PV technologies. In addition, an economic analysis for a 25 year lifespan was made with the obtained data. The annual global horizontal radiation (GI) and effective global irradiation (GE) are found to be 2001.7 kWh/m2 and 1949.6 kWh/m2, respectively. The highest yearly total electricity production was obtained from mono-Si, with a value of 513.91 MWh. This value is 1.91% and 3.07% higher than poly-Si and a-Si, respectively. Since the Performance Ratio (PR) values are proportional to the generated electricity and incoming irradiation to the surface of the PV panels, it calculated 0.853, 0.847, and 0.830 for mono-Si, poly-Si, and a-Si, respectively. According to the basic payback method, the economic analysis showed that mono-Si and poly-Si pay off in about 5.8-5.9 years, while a-Si pays off in 9,1 years. A net profit of $1.5 million, $1.45 million, and $1.1 million was obtained from mono-Si, poly-Si, and a-Si, respectively. It was concluded that the ratio of income values to investment cost was 253%, 244.77%, and 126.6%, respectively. Therefore, it was concluded that mono-Si and poly-Si are economically quite feasible for small and medium-scale PV systems, but a-Si is still not feasible due to lower efficiency and higher costs.

Keywords:

Amorphous silicon, economic analysis, monocrystalline, polycrystalline, PVsyst

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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License (CC BY-NC 4.0)

Volume 8
Number 4
December 2023

Last Edition

Volume 8
Number 2
June2023

How to Cite

M.H. Aksoy, M. Ispir, Techno-Economic Feasibility of Different Photovoltaic Technologies. Applied Engineering Letters, 8(1), 2023: 1-9.
https://doi.org/10.18485/aeletters.2023.8.1.1

More Citation Formats

Aksoy, M. H., & Ispir, M. (2023). Techno-Economic Feasibility of Different Photovoltaic Technologies. Applied Engineering Letters8(1), 1-9. https://doi.org/10.18485/aeletters.2023.8.1.1

Aksoy, Muharrem Hilmi, and Murat Ispir. “Techno-Economic Feasibility of Different Photovoltaic Technologies.” Applied Engineering Letters, vol. 8, no. 1, 2023, pp .1-9. https://doi.org/10.18485/aeletters.2023.8.1.1. 

Aksoy, Muharrem Hilmi, and Murat Ispir. 2023. “Techno-Economic Feasibility of Different Photovoltaic Technologies.” Applied Engineering Letters 8 (1): 1-9. https://doi.org/10.18485/aeletters.2023.8.1.1.

Aksoy, M.H. and Ispir, M. (2023). Techno-Economic Feasibility of Different Photovoltaic Technologies. Applied Engineering Letters, 8(1), pp.1-9. doi: 10.18485/aeletters.2023.8.1.1.