Feasibility study of floating solar photovoltaic systems using techno-economic assessment and multi-criteria decision-making method: A case study of Bangladesh

Mahmood Reaz Sunny, Md Ahsan Kabir, Md Shakowat Zaman Sarker, Kamaleddin Aghaloo and Tausif Ali

Energy, 2024, vol. 310, issue C

Abstract: Many developing countries with abundant solar resources and rich history of agriculture, face overpopulation and land shortage issues. Floating solar photovoltaics (FSPVs) do not compete with agriculture for land and offer higher energy potential than land-based photovoltaics (LBPVs). For feasibility and site suitability evaluation of FSPVs, this study proposes an integrated approach of techno-economic assessment (TEA) and multi-criteria decision making (MCDM), based on a case study of Bangladesh. The system advisor model (SAM) was used to conduct TEA, evaluating the potential of nine FSPV sites on a regional scale using ten criteria. Combined compromise solution (CoCoSo) was implemented to determine the optimum site. Bergobindopur lake was ranked top, with the highest energy yield and lowest cost of energy of 1564 kWh/kW and $0.055/kWh respectively. Case study of Bergobindopur revealed buy-all-sell-all electricity tariff was more profitable than net billing and net metering. Energy generation was found to be influenced by tilt angle and soiling. Sensitivity analyses demonstrated the superiority of FSPVs over LBPVs for varying electricity prices, degradation and discount rates, project durations, and investor's equities. Longer project durations and lower equities resulted in higher profits for investors. The proposed approach contributes to the expansion of FSPV in land-constrained areas.

Keywords: Floating solar; Photovoltaic; Techno-economic; Multi-criteria decision making; Feasibility (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0360544224029773
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:310:y:2024:i:c:s0360544224029773

DOI: 10.1016/j.energy.2024.133202

Access Statistics for this article

Energy is currently edited by Henrik Lund and Mark J. Kaiser

More articles in Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().