The Cost Benefit Analysis of Commercial 100 MW Solar PV: The Plant Quaid-e-Azam Solar Power Pvt Ltd

Muhammad Asad, Farrukh Ibne Mahmood, Ilaria Baffo, Alessandro Mauro and Antonella Petrillo
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Muhammad Asad: Dipartimento di Ingegneria, Università degli Studi di Napoli “Parthenope”, Isola C4 Centro Direzionale, 80143 Napoli, Italy
Farrukh Ibne Mahmood: Department of Engineering, Arizona State University, Tempe, AZ 85281, USA
Ilaria Baffo: Dipartimento di Economia e Impresa, Università degli Studi della Tuscia, Loc. Riello s.n.c., 01100 Viterbo, Italy
Alessandro Mauro: Dipartimento di Ingegneria, Università degli Studi di Napoli “Parthenope”, Isola C4 Centro Direzionale, 80143 Napoli, Italy
Antonella Petrillo: Dipartimento di Ingegneria, Università degli Studi di Napoli “Parthenope”, Isola C4 Centro Direzionale, 80143 Napoli, Italy

Sustainability, 2022, vol. 14, issue 5, 1-13

Abstract: The energy crisis in Pakistan has crippled the country’s economy with an energy shortfall reaching up to 6000 MW. Fortunately, Pakistan lies close to the Sun Belt and therefore receives very high irradiation. To this end, in the beginning of 2014 the Pakistani government sanctioned a solar photovoltaic project namely Quaid-e-Azam Solar Park which was rated at 1000 MW. In this study, a cost benefit analysis for the Quaid-e-Azam Solar Park has been developed. The model uses RETScreen software. In fact, a literature review pointed out that most of the previous research work with reference to cost benefit analysis for solar projects has been mainly carried out on smaller power plants. The outcome of the study shows promising results with the simple payback period coming out at 5.6 years. Furthermore, this analysis can serve as guideline for future solar photovoltaic projects in Pakistan and can help in the development and utilization of the huge solar potential of the country, thus aiding in the reduction of energy shortage. In its proposal, our research is unique and innovative in the Pakistani context. The results aim to serve as a guideline for decision makers and researchers interested in this topic.

Keywords: renewable energy sources; photovoltaic technologies; solar power plant; cost benefit analysis; QASP (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
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