Abstract
Power generation from solar photovoltaic (PV) involves uncertainties due to its intermittent nature. Battery storage system (BSS) acts as both a store of energy and a source of supply during the solar off-peak periods. The capacity of BSS degrades over time. Hence, economic assessment of grid-linked solar PV systems is imperative. Currently, implementing rooftop grid-linked solar PV systems has had its cost decrease drastically. Energy policies and optimization guidelines need to be constructed on this constant change in the efficiency and cost of electric power technologies. In this paper, the effect of a continuous decrease in the cost of solar technology equipment on the economic feasibility of residential rooftop solar PV systems in the KwaZulu-Natal province of South Africa is investigated. This feasibility is based on the International Renewable Energy Agency’s finding that solar PV is the renewable energy technology with the highest reduction in cost, having its average Levelized cost of electricity (LCOE) dropped by 85% between 2010 and 2020. The competitiveness of solar PV in electricity generation is emphasized by the findings, thereby contributing further to the country’s total energy mix.
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