Techno-economic assessment of power generation potential from floating solar photovoltaic systems in Bangladesh

Abstract

Floating Solar Photovoltaic (FPV) plants, also known as floatovoltaic plants are showing great potential in the renewable energy sector all around the world. They can contribute to the national grid and provide support to the existing hydropower plants. Moreover, they positively impact the environment by reducing evaporation and improving aquatic lives simultaneously. Despite a decade of research, there has been no study on the technical potential of FPV plants on a riverine country like Bangladesh. In Bangladesh, there are several water infrastructures to accommodate FPV plants. In addition, a considerable amount of solar irradiation is available throughout the year because of the country's geographical location, making FPVs a significantly viable option for generating electricity. To this end, this study provides the first technical potential and economic feasibility assessment of some of the important water bodies of Bangladesh. The technical potential study is performed with the help of solar PVGIS and focuses on the contribution these plants can make to the national grid. The economic viability assessment simulations are done in System Advisory Model (SAM). Moreover, a thorough comparison between FPVs and inland solar plants is also conducted. The results show that after the installation, even with a conservative approach, FPV plants will be able to meet 1.1% of the demand of the capital Dhaka, the city with one of the highest population densities. In addition, FPV installation at Kaptai lake, which already has an existing hydropower plant, can meet up to 7% of the demand of the port city Chattogram. Moreover, economic parameters NPV, IRR and LCOE all indicate the projects are profitable and can be deployed in large-scale. This study will open doors to further research into the FPV potential of Bangladesh and help implement FPVs to meet the renewable energy goals of the country.

Keywords

• Floating PV
• Solar power potential
• Inland water infrastructures
• Bangladesh
• NPV
• IRR