Economic assessment of large power photovoltaic irrigation systems in the ECOWAS region

C. Lorenzo, R.H. Almeida, M. Martínez-Núñez, L. Narvarte and L.M. Carrasco

Energy, 2018, vol. 155, issue C, 992-1003

Abstract: This paper presents an economic assessment of large power (from tens to hundreds kWp) PV irrigation systems in the ECOWAS region, evaluating the economic feasibility of substituting diesel-powered and grid-powered systems with PV ones. Seven countries from the ECOWAS region were considered and two irrigation operating modes were compared (pumping to a water tank or at constant pressure). Net Present Cost (NPC) values are in the 0.33–41.5 × 105 $ range, Internal Rate of Return (IRR) values are in the 8–47% range and Payback Period (PBP) values are in the 2.1–10 years range. The economic savings in terms of Levelized Cost of Energy, LCOE, were also evaluated. LCOE for PV irrigation systems are in the 4.5–17.4 $cents/kWh range, which represent percentage savings of 30–84% if compared to diesel-powered and grid-powered systems.

Keywords: Photovoltaic; Irrigation system; Economic assessment; Renewable energy (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:155:y:2018:i:c:p:992-1003

DOI: 10.1016/j.energy.2018.05.066

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