Technical & financial feasibility assessment of heat pipe evacuated tube collector for water heating using Monte Carlo technique for buildings

Abstract

The main objective of this work is to clear the economic condition of heat pipe based solar water heating technology in India. For this, a techno-economic analysis has been carried out which offers the facts for the investment in this sector. A computation model has been developed by the amalgamation of the Monte Carlo Technique (MCT) and Multi-energy/economic relations that take into consideration the risks and integrated uncertainties of different variables. The results reveal that LCWH and PP are found to be lowest for Zone-V and will require the least collector area. Since the highest solar radiation in Zone-V eventually reduces the ratio of annual energy demand to annual solar radiation. Thus Zone-V is the most favorable place for the installation of the solar water heater. The mean values of LCWH, NPV, and PP are found to be 5.14 INR/kWh, 663788.48 INR, and 5.84 years respectively. However, values of LCWH, NPV, and PP through optimization were found to be lesser by 25–33%, higher by 9–28%, and lower by 37–47% respectively.The MCT is efficient to defeat discrepancies in the results of conventional techniques by taking into consideration the range of states according to their probability to offer more accurate forecasts.