Cost Of Photovoltaic Technology Research Articles

Augmenting a Concentrated Solar Power (CSP) Plant With a Solar PV Plant

The search for enhanced dispatchability at decreased prices has led to a surge in research on hybrid renewable energy systems. This paper explores the integration of Photovoltaic (PV) technology with Concentrating Solar Power (CSP) plants to enhance energy generation and economic feasibility, focusing on optimising the size of PV augmentation for existing CSP facilities. The study considers CSP plants with both Time-of-Day (ToD) and single tariffs, employing modelling techniques to assess the synergies between these two technologies. The cost of PV technology has significantly reduced, making it a cost-effective choice for electricity generation compared to CSP. CSP-PV augmentation promises to reduce online and offline auxiliary consumption, resulting in enhanced energy generation and a subsequent reduction in energy production costs. This study aims to explore the advantages of combining solar PV with a CSP system and determine the ideal PV size to maximise return, building upon previous studies to assess the technological and economic potential of integrating solar PV with CSP, focusing on South Africa. It utilises a rigorous analysis, combining the System Advisory Model and PVSyst modelling tool within an MS Excel framework. This economic assessment and sizing exercise aims to maximise profits while adhering to the limitations imposed by the power purchase agreement of a 100 MW CSP facility. The optimal size is 15 MWp for the ToD tariff and 16 MWp for the flat tariff. This highlights the potential for CSP-PV augmentation to improve energy dispatchability and financial viability, making it a compelling solution for existing CSP plants.

Life cycle cost analysis of solar energy via environmental externality monetization

Evaluating the embodied environmental impact of solar photovoltaic (PV) technology has been an important topic in addressing the sustainable development of renewable energy. While monetization of environmental externality is a remaining issue, which should be carried out in order to allow for an easy-to-understand comparison between direct economic and external cost. In this study, the environmental impact of solar PV power is monetized through conversion factors between midpoint and endpoint categories of life cycle analysis and the monetization weighting factor. Then, the power generation capacity and generation life of PV and coal-fired power plants are assumed to be consistent in order to compare the total cost of PV and coal-fired power generation. Results show that the cost of PV technology is higher than coal-fired form the base year from 2026 until 2030, taking into account environmental external costs and production costs. However, by 2030, the total cost of coal-fired power will be higher than that of solar PV. The life span cost per kWh is $3.55 for solar PV and $116.25 for coal-fired power. Although solar PV power seems more environmentally effective than coal-fired power in the life span, our results reveal the high environmental external cost of producing solar photovoltaic modules, which reminds us to pay more attention to the environmental impact when conducting cost-benefit analysis of renewable technologies. Without incorporating the environmental cost, the real cost of renewable technology will be underestimated.

Microgrid investment under uncertainty: a real option approach using closed form contingent analysis

The traditional net present value approach to investment in microgrid assets does not take into account the inherent uncertainties in fuel prices, cost of technology, and microgrid load profile. We propose a real option approach to microgrid investment, which includes solar photovoltaic (PV) and gas-fired generation assets. Likewise the (n, m) exchange literature in real option analysis, we examine cases with interdependency and independency of fuel price and the cost of PV technology. This work, however, makes a major contribution by the way of introducing a new parameter, which is defined as the elasticity of the option value to prices and is used in the formulation of closed form solutions. We further extend the (1, 1) exchange problem here to include operational flexibility of microgrid, such that optimal switching between investment, suspension and re-activation can be examined.

Water Cooling Method to Improve the Performance of Field-Mounted, Insulated, and Concentrating Photovoltaic Modules

The installation rate of crystalline silicon photovoltaic (PV) modules worldwide is at an all-time high and is projected to continue to grow as the cost of PV technology is reduced. It is important to note that PV power generation is heavily influenced by the local climate. In particular, for crystalline silicon-based PV devices, as the operating temperature of the panel increases, the efficiency decreases. Higher operating temperatures also lead to accelerated material and mechanical degradation, potentially compromising system effectiveness over the lifetime of the panels. In addition, atmospheric pollution can cause particle deposition on the surface of PV modules (soiling), reducing the amount of solar irradiance that reaches the PV material and reducing panel efficiency. Various cooling and cleaning methods have been proposed in the literature to mitigate these problems. In this study, a uniform film of water was continuously recirculated by pumping over the surface of a solar panel using an emitter head attached to the top of the panel. The water cooling technique was able to maintain panel temperature below 40 °C while adjacent untreated panels were operating near 55 °C. Besides the efficiency improvements due to cooling, the film of water also kept the panels clean, avoiding any reduced power output caused by panel soiling. Additional studies were carried out with artificially chilled cooling fluid, insulating materials, and side mirrors to examine the cooling system performance under different installation scenarios. Water cooling is concluded to be an effective means of increasing the efficiency of monocrystalline silicon photovoltaic panels. Under normal operating conditions, the increased energy output from the panels is more than sufficient to compensate for the energy required to pump the water.