Abstract
The introduction of environmental impact targets around the world has highlighted the need to adopt alternative sources of energy, which can supply the demand and mitigate the damage caused to the environment. Solar energy is one of the main sources of alternative energy, and is considered an abundant source of clean energy. However, to facilitate and encourage investors interested in the installation of photovoltaic energy systems for electricity production, it is essential to evaluate the factors that impact the economic viability of the projects. Therefore, the objective of this research is to present a systematic analytical framework, in order to identify and analyze the main factors that impact the financial feasibility of projects for the installation of photovoltaic energy plants. For this purpose, a systematic literature review was carried out, analyzing the main studies related to the topic and identifying the main factors that may financially affect investments in photovoltaic energy systems. From this review, 29 influencing factors were identified and separated into five categories, namely, location, economic, political, climatic and environmental, and technical factors. The main factors highlighted are the investment cost, power generation, operation and maintenance costs, solar radiation, lifetime, energy tariff, efficiency, electricity consumption, and interest and taxes. The results may assist policy makers, investors, researchers, and other stakeholders to identify the key factors that are being examined in the literature, and to evaluate which ones should be considered in their study to ensure the sustainable development of power generation through the solar source.
Highlights
The generation of electrical energy is essential for the quality of life and human development
Non-renewable energy sources are used on a large scale in the world, and this causes various concerns
The world’s total primary energy supply (TPES) increased almost 2.5 times between 1971 and 2016, oil being the dominant fuel source
Summary
The generation of electrical energy is essential for the quality of life and human development. The way in which this energy is generated can cause damage to the environment and harm human life. Non-renewable energy sources are used on a large scale in the world, and this causes various concerns. According to the International Energy Agency (IEA) [1], electricity in 2016 was still dominated by fossil fuel sources. The world’s total primary energy supply (TPES) increased almost 2.5 times between 1971 and 2016, oil being the dominant fuel source ( it reduced from 44% to 32% of TPES). The IEA [1] highlights the reduction in the use of fossil fuels and the trend of growing participation of renewable energy sources (RESs), reaching about 11% in the world energy matrix in 2016
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