Economic and Environmental Feasibility of Constructing a Grid-Connected Sun-Tracking PV Power Plant in Iraq

Abstract

Feasibility assessment of constructing a 10 MW sun-tracking PV power plant in Iraq from an economic and environmental perspective has been analysed. A type of PV panel having desirable specific properties according to the international standards has been selected and used. Three PV-panel installation systems, namely: fixed-tilt, single-axis, and dual-axis tracking systems have been tested. Al-Anbar city (33.26°N, 40.31°E) west of Iraq has been selected for constructing the proposed power plant. The study mainly concerns the assessment of the annual and cumulative revenues rising from the proposed PV power plant. Evaluation of other economic parameters including the levelized cost of energy (LCOE), cash flow over the power plant lifecycle, and net present value (NPV) also have been achieved and revealed. The analysis demonstrates that the selected region is very promising for solar PV investment in electric power production. Moreover, incorporation of a dual-axis tracking system substantially enhances the economic feasibility of the project. The environmental benefits relating to the reduction of greenhouse gas (GHG) emissions have been confirmed in all the PV-panel installation modes considered in this study.