Techno-economic assessment of residential and farm-based photovoltaic systems

Adri Huda, Ian Kurniawan, Khairul Fahmi Purba, Reisya Ichwani, Aryansyah, and Richa Fionasari

Renewable Energy, 2024, vol. 222, issue C

Abstract: The present study aims to provide a techno-economic analysis of two commonly used photovoltaic (PV) systems, Residential PV (RPV), and Farm-based PV systems (FPV) in Ogan Komering Ulu (OKU), South Sumatra, Indonesia. The study includes calculating the potential power output using simulation by the PVsyst program, the economic calculations, and the sensitivity test. The result showed that the average Global Horizontal Irradiance (GHI) was 4.8 kWh/m2 and fluctuated depending on the location and seasons. The economic analysis found that both photovoltaic systems were profitable investments and less risky projects. Further economic analysis confirmed that the different size of PV system has no competitiveness in economic profitability, but the Payment Back Period (PBP) depends on the annual profit and investment size. The sensitivity analysis found that the selling depreciation has the greatest impact on the viability of PV investment, while Operation and Maintenance (O&M) fluctuation has no significant effects. These findings provide an overview of how investing in PV technologies in Indonesia could benefit people of all financial backgrounds. The government of Republic of Indonesia could start regulating the PV investment bankable to stimulate more people in Indonesia to participate in green energy investment. This collaboration potentially helps the government of the Republic of Indonesia in meeting its energy transition goal by 2045.

Keywords: Economic analysis; Photovoltaic models; PVsyst; Renewable energy (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:renene:v:222:y:2024:i:c:s0960148123018013

DOI: 10.1016/j.renene.2023.119886

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