Global sensitivity based prioritizing the parametric uncertainties in economic analysis when co-locating photovoltaic with agriculture and aquaculture in China

Rui Jing, Yang He, Jijiang He, Yang Liu and Shoubing Yang

Renewable Energy, 2022, vol. 194, issue C, 1048-1059

Abstract: Teaming up photovoltaic (PV) with agriculture or aquaculture, namely, the agrivoltaics and aquavoltaics, create novel energy-food-(land or water) nexus offering mutual benefits potentially. At present, the profitability of these nexuses is still not well quantified, but it is usually what investors are most concerned about. Hence, an economic analysis framework is proposed to benchmark the profitability of both agrivoltaics and aquavoltaics systems, and further prioritize the most influencing factors for the project economy. The framework is applied in China indicating that the average simple payback period (SPP) ranges between 6.2–6.6 years for agrivoltaics projects, and 9.5–10.1 years for aquavoltaics projects. Capital cost of PV, solar resource richness, and feed-in-tariff are top three influencing factors for the profitability of both agrivoltaics and aquavoltaics systems. The national implementing potential of agrivoltaics and aquavoltaics would be up to 112 GW for agrivoltaics and 564 GW for aquavoltaics in China. Overall, compared to PV-only configuration, agrivoltaics and aquavoltaics contribute to more terms of Sustainable Development Goals to a greater extent, which could be emerging PV deployment patterns during the era of no subsidy on PV feed-in-tariff.

Keywords: Energy-food nexus; Agrivoltaics; Aquavoltaics; Global sensitivity analysis; Potential assessment; Sustainable development goals (SDGs) (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0960148122008230
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:renene:v:194:y:2022:i:c:p:1048-1059

DOI: 10.1016/j.renene.2022.05.163

Access Statistics for this article

Renewable Energy is currently edited by Soteris A. Kalogirou and Paul Christodoulides

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