Abstract
This paper presents a method for finding an optimal photovoltaic (PV) system according to Croatian legislation. The PV sizing model, in which a decision on investment is made according to economic indicators, is made using MATLAB Software. Based on the input data, the monthly PV system production is calculated, and electricity price formed. According to the PV system production and electricity price, economic indicators are calculated and obtained as output data. The model input data are solar irradiation, load diagram, PV system costs and market price of electricity while the model output data are PV system production, savings, profit, incomes, Net Present Value (NPV) and Levelized Cost of Electricity (LCOE). The obtained economic indicators are presented graphically and used for decision making on an optimal PV system size. The presented model is applied and presented in a case study.
Highlights
Home Using Economic Indicators.Photovoltaic (PV) systems are currently one of the most used renewable energy sources (RES)
The obtained economic indicators are presented graphically and used for decision making on an optimal PV system size
According to [16], the results show that PV sizing algorithm based on dolphin echolocation algorithm is much better than PV sizing algorithms which use selected computational intelligence, i.e., evolutionary programming, firefly algorithm and cuckoo search
Summary
Photovoltaic (PV) systems are currently one of the most used renewable energy sources (RES). There are on-grid and off-grid as well as small-scale and large-scale PV systems. Before the installation of a PV system, a sizing procedure is required. There are different methods for sizing of a PV system confirmed with many papers in the last two decades and especially in the last ten years. The research on optimal design of a PV power system can already be found in the papers published in the first half of the last century 90s [1,2]. In [1], a detailed PV system design method including the sizing of the system components and calculating the system performances is established by analyzing the existing PV systems and interviewing expert
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