Abstract
Sun is the most promising renewable resource available to mankind for extracting maximum useful energy. One of the best ways to trap solar energy is to install photovoltaic thermal (PVT) systems whose main novelty is to produce power by photovoltaic conversion and also dissipate the heat evolved to recover thermal energy thereby enhancing the overall efficiency of the system. Implementing this approach in practical application system lags mainly due to the requirement of economic investment. This paper reviews on the economics involved in the installation, operation and maintenance of solar PVT systems. The economic viability of solar PVT systems is evaluated by considering five criteria (energy costs, life cycle costs, profit ratio, cost savings and pay-back period). Furthermore the performances of many PVT systems were compared and the economic evaluation has proved that the PVT system is economically feasible and has greater potential for incorporating in residential/commercial buildings especially for tropical countries like India.
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