Techno-Economic Feasibility Study of a 1.5 MW Grid-Connected Solar Power Plant in Bangladesh

This study addresses the pressing energy constraints in nations like Bangladesh by proposing the implementation of photovoltaic (PV) microgrids. Given concerns about environmental degradation, limited fossil fuel reserves, and volatile product costs, renewable energy sources are gaining momentum glo...

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Bibliographic Details
Published in:Designs 2023-12, Vol.7 (6), p.140
Main Authors: Ali, Md. Feroz, Sarker, Nitai Kumar, Hossain, Md. Alamgir, Alam, Md. Shafiul, Sanvi, Ashraf Hossain, Syam Sifat, Syed Ibn
Format: Article
Language:English
Subjects:
Alternative energy sources
Capital costs
carbon footprint
Consumption
Design and construction
Distributed generation
Electricity
Emission standards
Emissions
Energy costs
Feasibility studies
Fossil fuels
Green buildings
Green technology
Greenhouse gases
Industrial plant emissions
Infrastructure
levelized cost of electricity/energy (LCOE)
Operating costs
panel orientation
Paris Agreement
Payback periods
performance ratio
photovoltaic array system
Photovoltaic cells
Power plants
PVsyst software
Renewable energy sources
Renewable resources
Solar energy
Solar power plants
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Summary:This study addresses the pressing energy constraints in nations like Bangladesh by proposing the implementation of photovoltaic (PV) microgrids. Given concerns about environmental degradation, limited fossil fuel reserves, and volatile product costs, renewable energy sources are gaining momentum globally. Our research focuses on a grid-connected solar PV system model at Char Jazira, Lalpur, Natore, Rajshahi, Bangladesh. Through PVsyst 7.1 simulation software, we assess the performance ratio (PR) and system losses, revealing an annual solar energy potential of 3375 MWh at standard test condition (STC) efficiency. After considering losses, the system generates 2815.2 MWh annually, with 2774 MWh exported to the grid. We analyze an average PR of 78.63% and calculate a levelized cost of energy (LCOE) of 2.82 BDT/kWh [1 USD = 110 BDT]. The financial assessment indicates a cost-effective LCOE for the grid-connected PV system, with an annual gross income of 27,744 kBDT from selling energy to the grid and operating costs of 64,060.60 BDT/year. Remarkably, this initiative can prevent 37,647.82 tCO2 emissions over the project’s 25-year lifespan.
ISSN:2411-9660
2411-9660
DOI:10.3390/designs7060140