Techno-economic assessment of a stand-alone solar photovoltaic system at IUT campus

Abstract

Renewable energy resource is considered as clean, it can reduce the emission of greenhouse gases (GHGs) which become a big concern around the world. Electricity produced using solar energy which is one of the renewable energy sources, can be an attractive from economic and environmental perspective. This study presents a techno-economic assessment by developing a bottom-up dataintensive spread-sheet-based model. The study estimates the electricity produced by a 96.8kWp stand-alone solar photovoltaic in the south hall residential at Islamic university of technology (IUT) campus. The unit cost of electricity by solar radiation was found to be $0.456/kWh with a net present cost of $267729.42.for the components, batteries were found to be the most expensive of the PV system.