Potential and viability of grid-connected solar PV system in Bangladesh

Abstract

The potential of grid-connected solar PV system in Bangladesh was estimated utilizing GeoSpatial toolkit, NASA SSE solar radiation data and HOMER optimization software. Financial viability of solar photovoltaic as an electricity generation source for Bangladesh was also assessed utilizing a proposed 1-MW grid-connected solar PV system using RETScreen simulation software for 14 widespread locations in Bangladesh. The technical potential of gird-connected solar PV in Bangladesh was calculated as about 50174 MW. The annual electricity generation of the proposed system varied depending on the location between 1653 MWh and 1854 MWh, with a mean value of 1729 MWh. Several different economic and financial indicators were calculated, such as the internal rate of return, net present value, benefit-cost ratio, cost of energy production and simple payback. All indicators – for all sites – showed favorable condition for development of the proposed solar PV system in Bangladesh. The results also showed that a minimum of 1423 tons of greenhouse gas emissions can be avoided annually utilizing the proposed system at any part of the country.