Technoeconomic Evaluation for an Installed Small-Scale Photovoltaic Power Plant

Abstract

Solar energy production and economic evaluation are analyzed, in this study, by using daily solar radiation and average temperature data which are measured for 3 years in the Osmaniye province in Turkey. Besides, this study utilizes the photovoltaic- (PV-) based grid connected to a power plant which has an installed capacity of 1 MW investment in electricity production. Economic values show that the net present value (NPV), the first economic method in the research, is about 111941 USD, which is greater than zero. Therefore, the payback year of this investment is approximately 8.3. The second one of these methods, the payback period of the simple payback period (PBP), is 6.27 years. The last method, which is the mean value of the internal rate of return (IRR), is 10.36%. The results of this study show that Osmaniye is a considerable region for the PV investment in electricity production. As a result, investment of a PV system in Osmaniye can be applicable.