Techno-Economic analysis of proposed10 MWP Floating Solar PV plant at Nagarjuna Sagar, Telangana, India: Part-2

Abstract

In part-1, a technical performance analysis for the proposed 10 MWP FSPV plant was carried out, and its results were compared with a GSPV plant. The results concluded that the FSPV plant has better performance characteristics than a GSPV plant. Despite the many advantages of solar PV plants, a vast land requirement for installing a solar PV plant remains challenge in the current scenario, especially for a developing and densely populated nation like India. The land cost is also increasing day by day, causing the levelized tariff of the PV plant to grow. Installing the FSPV plant eliminates the need for land resources to a large extent. The main aim of the present work is to present a procedure to perform the economic analysis of the FSPV plant. Levelized tariff, Payback Period, Return on Investment (ROI), Net Present Value (NPV), and Internal Rate of Return (IRR) are some of the parameters calculated. This literature performs and analyzes the results of the economic analysis of the FSPV plant with a Ground-mounted Solar PV (GSPV) plant of the same capacity, installed at the same location. The results show that the levelized tariff of the FSPV plant is 21 % more than the GSPV plant. It is also observed that as the cost of the land increases, the levelized tariff also increases. The results for economic analysis have been obtained by a code developed in MATLAB.