Abstract
In this paper, simulation approach is used for determination of the monthly unit cost of energy generated from standalone PV (SAPV) power system in Imo State. The meteorological data used in the study are compiled from National Aeronautics and Space Administration (NASA) worldwide meteorological database. The meteorological data include 22-year monthly and annual averaged insolation incident on a horizontal surface (kwh/m2/day) and 22-year monthly averaged air temperature. A hypothetical electric load demand data of 5000 kWh per day is used for the simulation. The PVsyst industrial PV system planning software solution was selected to model and simulate the entire PV system. PVSyst uses life cycle cost analysis approach to determine the investment cost and unit cost of energy generated from SAPV system. According to the results, the average total energy supplied to the user (load) in a year is 1751 kWh. The economic analysis result shows that the total annual cost of energy is 246760 Naira per year at a unit cost of 141 Naira per kWh. Also, the highest unit cost of energy of 168.6 Naira/ kWh occurred in August whereas the lowest unit cost of energy of 132.7 Naira/ kWh occurred in October. The idea presented in this paper is useful for smart grid, dynamic energy pricing and energy cost management system.
Highlights
Electricity is the lifeblood of the any nation’s economy
Simulation approach is used for the determination of the monthly unit cost of energy generated from standalone PV (SAPV) power system in Imo State
The meteorological data used in the study are compiled from National Aeronautics and Space Administration (NASA) worldwide meteorological database
Summary
Electricity is the lifeblood of the any nation’s economy. Given the continual rise in population and discovery of more power dependent devices and systems, electricity use has continued to be on the increase every year and at the same time, energy prices are rising and energy availability is diminishing [1, 2, 3]. With this continual growth in electricity demand as well as an increasing price, new methods of producing electricity are constantly being developed. Alternative energy like renewable energy comes from sources that replenish themselves, such as the sun, rivers, wind, and ocean waves and tides [4, 5, 6]
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