Abstract
Nowadays, the integration of photovoltaic (PV) systems into the grid involves new and competitive ways to realize this. Thus, it is necessary to define procedures that not only include energy calculations but also incorporate economic and funding feasibility features. According to the literature review, there are numerous tools that are available to carry out a profitability analysis of a photovoltaic system. However, certain shortcomings have been identified, either in the definition of the economic and financial scenarios or in the results obtained, as they do not provide all the necessary information, do not use all the most common economic criteria, or in some cases the complexity and training requirements for their correct implementation may discourage their use. Therefore, in this paper a complete procedure that can be used as a preliminary decision tool prior to the design of an in-depth PV self-consumption system is proposed. Realistic input data makes it possible to not only obtain results for common economic and financial feasibility criteria (Net Present Value, Internal Rate of Return, Discounted Pay-Back Time and Net Cash Balance), but it also allow for a cost-competitiveness evaluation based on the Levelised Cost of Electricity (LCOE). The novel concept of the direct cost of PV self-consumed electricity is also introduced.
Highlights
In recent years, we have witnessed exponential growth in installed photovoltaic power around the world, and expectations are even more promising for the near future [1]
The economic feasibility models have already been introduced in previous works [25,26,27], this innovative model incorporates the option of self-consumption under different types, in addition to the calculation of the cost of direct PV self-consumed electricity, and the feasibility analysis of the financing by means of the Net Cash Balance concept
A residential photovoltaic system located in Madrid (Spain) was chosen, any graph is created, users can zoom it, write on it, save it and select the different plotted points so that other location in the world for which the necessary data are available for simulation could have been they can fully understand the results of the analysis
Summary
We have witnessed exponential growth in installed photovoltaic power around the world, and expectations are even more promising for the near future [1] These figures position this technology as the leading driver of the renewable energy sector, and as the main alternative for energy transitions [2,3]. The purpose is solely to inject energy into the grid and receive a proportional disbursement, while in the second case, the purpose is to provide electricity, with the help of a battery, to facilities isolated from the grid Nowadays, this classification has become obsolete since photovoltaic technology has entered a new implementation paradigm, not based on location characteristics (isolated or not from the grid), but dependent on economic variables and generation-consumption profiles and their integration with the closest grid [10]
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