Life cycle economic analysis of stand-alone solar pv system in India – a relative study

Abstract

In this paper, life cycle economic analysis (LCEA) of stand-alone solar photovoltaic (PV) modules is performed. It is tested for their commercial prospects in remote regions of India, which do not have a direct access of grid supply. Availability of grid supply depends on the population density. Solar PV technology is one of the first among several renewable energy technologies that have been adopted worldwide for meeting the basic needs of generation of electricity particularly in remote areas. Overall lifetime expenditures related to the power projects are analyzed and compared with the help of net present worth (NPW) theory. In the context of a developing country like India, it is found that the cost effectiveness of conventional or ‘green’ power driven sources depends on kW rating of generators and daily demand of consumers. The demand coverage, which would determine the commercial viability of renewable and non-renewable sources is calculated considering the practical power rating of generators available in the local market. This study is intended to assist planning of financial matters with regard to installing small to medium scale electric power generation using solar PV module in remote areas of India.