Comparison of Techno-Economic Models for Upgrading PV System without Net-Metering Option and Long Term Impact on Energy Bills
This article presents a techno-economic analysis of upgrading a Photovoltaic (PV) power system at large. A comparative study has been carried out considering various technical and economic factors like per unit cost, annual load, energy demand growth, and PV panel efficiency, annual performance deg...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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The University of Lahore
2023-10-01
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| Series: | Pakistan Journal of Engineering & Technology |
| Subjects: | |
| Online Access: | https://hpej.net/journals/pakjet/article/view/2638 |
| _version_ | 1797659277160087552 |
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| author | Arslan Ahmed Syed Ali Abbas Kazmi Mustafa Anwar Adeel Waqas |
| author_facet | Arslan Ahmed Syed Ali Abbas Kazmi Mustafa Anwar Adeel Waqas |
| author_sort | Arslan Ahmed |
| collection | DOAJ |
| description |
This article presents a techno-economic analysis of upgrading a Photovoltaic (PV) power system at large. A comparative study has been carried out considering various technical and economic factors like per unit cost, annual load, energy demand growth, and PV panel efficiency, annual performance degradation of system, cost of electricity, payback period, initial capital expenditure, and rate of return in the form of saving in energy bills. The PV system is proposed to be upgraded from 1 MW to 2 MW at the National University of Sciences & Technology (NUST), Islamabad. The PV system is subject to be upgraded due to the growth rate of annual load and amount saved by PV contribution, which has been forecasted using data trends of the above-mentioned technical and economic factors. While considering these factors, four economic models have been evaluated and compared, which include Self-Built via Contractor with self-financing, Self-Built with bank financing, Power purchase agreement (PPA), also known as rental agreement and Built, Own, Operate & Transfer (BOOT) model. Merits and demerits of these models have been discussed, and the most feasible model has been proposed based on the mentioned key factors and long-term sustainable development goals (SDG) for affordable clean energy to contribute to climate action, i.e., adaptation of renewable energy resources (RER) and reduction of greenhouse gases (GHG).
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| first_indexed | 2024-03-11T18:11:36Z |
| format | Article |
| id | doaj.art-d7c3bb6aac2a4c56bf0badcc0804e761 |
| institution | Directory Open Access Journal |
| issn | 2664-2042 2664-2050 |
| language | English |
| last_indexed | 2024-03-11T18:11:36Z |
| publishDate | 2023-10-01 |
| publisher | The University of Lahore |
| record_format | Article |
| series | Pakistan Journal of Engineering & Technology |
| spelling | doaj.art-d7c3bb6aac2a4c56bf0badcc0804e7612023-10-16T13:06:12ZengThe University of LahorePakistan Journal of Engineering & Technology2664-20422664-20502023-10-016310.51846/vol6iss3pp16-24Comparison of Techno-Economic Models for Upgrading PV System without Net-Metering Option and Long Term Impact on Energy BillsArslan Ahmed0Syed Ali Abbas Kazmi1Mustafa Anwar2Adeel Waqas3Department of Electrical Power Engineering, USPCAE, NUST, Islamabad, PakistanDepartment of Electrical Power Engineering, USPCASE, NUST, Islamabad, PakistanDepartment of Energy Systems Engineering, USPCASE, NUST, Islamabad, PakistanDepartment of Energy Systems Engineering, USPCASE, NUST, Islamabad, Pakistan This article presents a techno-economic analysis of upgrading a Photovoltaic (PV) power system at large. A comparative study has been carried out considering various technical and economic factors like per unit cost, annual load, energy demand growth, and PV panel efficiency, annual performance degradation of system, cost of electricity, payback period, initial capital expenditure, and rate of return in the form of saving in energy bills. The PV system is proposed to be upgraded from 1 MW to 2 MW at the National University of Sciences & Technology (NUST), Islamabad. The PV system is subject to be upgraded due to the growth rate of annual load and amount saved by PV contribution, which has been forecasted using data trends of the above-mentioned technical and economic factors. While considering these factors, four economic models have been evaluated and compared, which include Self-Built via Contractor with self-financing, Self-Built with bank financing, Power purchase agreement (PPA), also known as rental agreement and Built, Own, Operate & Transfer (BOOT) model. Merits and demerits of these models have been discussed, and the most feasible model has been proposed based on the mentioned key factors and long-term sustainable development goals (SDG) for affordable clean energy to contribute to climate action, i.e., adaptation of renewable energy resources (RER) and reduction of greenhouse gases (GHG). https://hpej.net/journals/pakjet/article/view/2638Annual Load GrowthAnnual Energy SavingCapital ExpenditurePayback PeriodPower Purchase AgreementRenewable Energy Resources |
| spellingShingle | Arslan Ahmed Syed Ali Abbas Kazmi Mustafa Anwar Adeel Waqas Comparison of Techno-Economic Models for Upgrading PV System without Net-Metering Option and Long Term Impact on Energy Bills Pakistan Journal of Engineering & Technology Annual Load Growth Annual Energy Saving Capital Expenditure Payback Period Power Purchase Agreement Renewable Energy Resources |
| title | Comparison of Techno-Economic Models for Upgrading PV System without Net-Metering Option and Long Term Impact on Energy Bills |
| title_full | Comparison of Techno-Economic Models for Upgrading PV System without Net-Metering Option and Long Term Impact on Energy Bills |
| title_fullStr | Comparison of Techno-Economic Models for Upgrading PV System without Net-Metering Option and Long Term Impact on Energy Bills |
| title_full_unstemmed | Comparison of Techno-Economic Models for Upgrading PV System without Net-Metering Option and Long Term Impact on Energy Bills |
| title_short | Comparison of Techno-Economic Models for Upgrading PV System without Net-Metering Option and Long Term Impact on Energy Bills |
| title_sort | comparison of techno economic models for upgrading pv system without net metering option and long term impact on energy bills |
| topic | Annual Load Growth Annual Energy Saving Capital Expenditure Payback Period Power Purchase Agreement Renewable Energy Resources |
| url | https://hpej.net/journals/pakjet/article/view/2638 |
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