Technical and Financial Assessment of Photovoltaic Solar Systems with Bifacial Technology Comparing Four Scenarios with Different Albedos with Respect to the Base Scenario with Monofacial Technology, in a Tropical Location in Colombia
In photovoltaic system installations worldwide, the use of bifacial technology has begun to be more frequent due to the reduction of the cost gap associated with the manufacture of photovoltaic modules with bifacial technology compared to monofacial, encouraged by the technological maturation of bi...
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| Format: | Article |
| Language: | English |
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EconJournals
2023-07-01
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| Series: | International Journal of Energy Economics and Policy |
| Subjects: | |
| Online Access: | http://econjournals.com/index.php/ijeep/article/view/14194 |
| _version_ | 1797780977827708928 |
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| author | Yecid Muñoz Miguel De La Rosa Leidy Carolina Acevedo Wilmer Velandia |
| author_facet | Yecid Muñoz Miguel De La Rosa Leidy Carolina Acevedo Wilmer Velandia |
| author_sort | Yecid Muñoz |
| collection | DOAJ |
| description |
In photovoltaic system installations worldwide, the use of bifacial technology has begun to be more frequent due to the reduction of the cost gap associated with the manufacture of photovoltaic modules with bifacial technology compared to monofacial, encouraged by the technological maturation of bifacial modules. This research focuses on assessing the technical and financial viability of a photovoltaic solar system with bifacial technology, comparing 4 scenarios with different albedos (0.15, 0.2, 0.3 and 0.4) with respect to a base scenario that uses monofacial technology, the financial viability was evaluated according to three financial goodness criteria (NPV, IRR and Payback Time), where only in the scenario with albedo 0.4 were the costs associated with this land adaptation considered. The results of the research indicate that the most technically and financially viable scenario is the scenario with albedo 0.4, with an investment of $ 37,872 MCOP (3.71% more than the base scenario), an energy generated per year of 21,687 GWh/year (4.83% more than the base scenario), a net present value of $46,425 MCOP (8.42% more than the base scenario), an internal rate of return of 18.31% (1.78% more than the base scenario) and a payback time of 5.21 years (3.52% less than the base scenario).
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| first_indexed | 2024-03-12T23:51:24Z |
| format | Article |
| id | doaj.art-8fd622207d2b4e71a452b4787cb92e3f |
| institution | Directory Open Access Journal |
| issn | 2146-4553 |
| language | English |
| last_indexed | 2024-03-12T23:51:24Z |
| publishDate | 2023-07-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Energy Economics and Policy |
| spelling | doaj.art-8fd622207d2b4e71a452b4787cb92e3f2023-07-13T14:35:02ZengEconJournalsInternational Journal of Energy Economics and Policy2146-45532023-07-0113410.32479/ijeep.14194Technical and Financial Assessment of Photovoltaic Solar Systems with Bifacial Technology Comparing Four Scenarios with Different Albedos with Respect to the Base Scenario with Monofacial Technology, in a Tropical Location in ColombiaYecid Muñoz0Miguel De La Rosa1Leidy Carolina Acevedo2Wilmer Velandia3Universidad Autónoma de Bucaramanga, Bucaramanga, ColombiaUniversidad Autónoma de Bucaramanga, Bucaramanga, ColombiaUniversidad Autónoma de Bucaramanga, Bucaramanga, ColombiaUniversidad Autónoma de Bucaramanga, Bucaramanga, Colombia In photovoltaic system installations worldwide, the use of bifacial technology has begun to be more frequent due to the reduction of the cost gap associated with the manufacture of photovoltaic modules with bifacial technology compared to monofacial, encouraged by the technological maturation of bifacial modules. This research focuses on assessing the technical and financial viability of a photovoltaic solar system with bifacial technology, comparing 4 scenarios with different albedos (0.15, 0.2, 0.3 and 0.4) with respect to a base scenario that uses monofacial technology, the financial viability was evaluated according to three financial goodness criteria (NPV, IRR and Payback Time), where only in the scenario with albedo 0.4 were the costs associated with this land adaptation considered. The results of the research indicate that the most technically and financially viable scenario is the scenario with albedo 0.4, with an investment of $ 37,872 MCOP (3.71% more than the base scenario), an energy generated per year of 21,687 GWh/year (4.83% more than the base scenario), a net present value of $46,425 MCOP (8.42% more than the base scenario), an internal rate of return of 18.31% (1.78% more than the base scenario) and a payback time of 5.21 years (3.52% less than the base scenario). http://econjournals.com/index.php/ijeep/article/view/14194Bifacial Technology, Photovoltaic System, Project Evaluation, Albedo, Bifacial Panel |
| spellingShingle | Yecid Muñoz Miguel De La Rosa Leidy Carolina Acevedo Wilmer Velandia Technical and Financial Assessment of Photovoltaic Solar Systems with Bifacial Technology Comparing Four Scenarios with Different Albedos with Respect to the Base Scenario with Monofacial Technology, in a Tropical Location in Colombia International Journal of Energy Economics and Policy Bifacial Technology, Photovoltaic System, Project Evaluation, Albedo, Bifacial Panel |
| title | Technical and Financial Assessment of Photovoltaic Solar Systems with Bifacial Technology Comparing Four Scenarios with Different Albedos with Respect to the Base Scenario with Monofacial Technology, in a Tropical Location in Colombia |
| title_full | Technical and Financial Assessment of Photovoltaic Solar Systems with Bifacial Technology Comparing Four Scenarios with Different Albedos with Respect to the Base Scenario with Monofacial Technology, in a Tropical Location in Colombia |
| title_fullStr | Technical and Financial Assessment of Photovoltaic Solar Systems with Bifacial Technology Comparing Four Scenarios with Different Albedos with Respect to the Base Scenario with Monofacial Technology, in a Tropical Location in Colombia |
| title_full_unstemmed | Technical and Financial Assessment of Photovoltaic Solar Systems with Bifacial Technology Comparing Four Scenarios with Different Albedos with Respect to the Base Scenario with Monofacial Technology, in a Tropical Location in Colombia |
| title_short | Technical and Financial Assessment of Photovoltaic Solar Systems with Bifacial Technology Comparing Four Scenarios with Different Albedos with Respect to the Base Scenario with Monofacial Technology, in a Tropical Location in Colombia |
| title_sort | technical and financial assessment of photovoltaic solar systems with bifacial technology comparing four scenarios with different albedos with respect to the base scenario with monofacial technology in a tropical location in colombia |
| topic | Bifacial Technology, Photovoltaic System, Project Evaluation, Albedo, Bifacial Panel |
| url | http://econjournals.com/index.php/ijeep/article/view/14194 |
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