Systemic Insights for Value Creation in Solar PV Energy Markets: From Project Management to System Impacts

Javier A. Calderon-Tellez, Milton M. Herrera, Javier Sabogal-Aguilar, Melisa Tuirán and Sebastian Zapata ()
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Javier A. Calderon-Tellez: Science Policy Research Unit—SPRU, Business School, University of Sussex, Brighton BN1 9RH, UK
Milton M. Herrera: Economic Sciences Research Centre, Universidad Militar Nueva Granada, Bogotá 110111, Colombia
Javier Sabogal-Aguilar: Economic Sciences Research Centre, Universidad Militar Nueva Granada, Bogotá 110111, Colombia
Melisa Tuirán: Escuela de Ingeniería y Ciencias Básicas, Universidad EIA, Envigado 055428, Colombia
Sebastian Zapata: Escuela de Ingeniería y Ciencias Básicas, Universidad EIA, Envigado 055428, Colombia

Energies, 2025, vol. 18, issue 6, 1-22

Abstract: Project management often overlooks the consideration of long-term effects that may impact sustainability transition and innovation. This paper addresses this gap by presenting an analysis that extends the traditional project life cycle model through the incorporation of a new phase, labelled “system impact”, which integrates innovation and sustainability into project management using a system dynamics methodology. To explore this extension, a simulation model is developed to analyse a solar photovoltaic (PV) power project, providing valuable insights into the systemic and dynamic impacts required for successful project outcomes, including effective benefits management and value creation. The results provide a sustainability-focused assessment of project success. Process innovation efficiency reaches its peak at 140 completed tasks, shortening the project duration from 18 to 13.25 months. This study highlights CO 2 emission avoidance over 25 years compared to fossil fuel generators. Economically, despite an initial cost three times higher, the solar PV alternative proves more cost-effective in the long run, amounting to only 19% of the total cost of the fossil fuel option.

Keywords: innovation; energy projects; electricity markets; solar power; sustainability; system dynamics (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2025
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