Generation unit sizing, economic analysis of grid connected and standalone PV power plant

Abstract

This paper presents a design for a grid connected PV system with the capacity of 1.5 MVA, as well as a standalone PV system with the capacity of 50 kVA in the West Bank industrial zone, Palestine. The factors affecting the design and size of the system are also presented and evaluated. To ensure adequate, reliable and economical system design, over and under sizing energy has been avoided. Furthermore, a numerical analysis will be carried out to evaluate the effects of the grid-connected system on the network, with respect to the voltage profile, power flow, and energy losses. The results have shown a good enhancement in the total energy losses and voltage profile in reference to load and generation capacity. However, the voltage profile is enhanced on buses located close to the proposed PV plant while the profile enhancements decrease when moving closer to the source buses. The maximum increase in voltage profile is 0.4% which is satisfactory in our case. Furthermore, the power losses were clearly decreased with installed of PV systems. Finally, an economic analysis for both systems will be presented. It was found that the total income of the project is expected to be around $616,923 per year. Further, the payback period is expected to be .5 years and the Net Present Value (NPV) is about $3,885,125.91. The Internal Rate of Return (IRR) for the project during a 20-year lifespan is about 26%.