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

• 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
• ISSN: 2411-9660; 2411-9660
• DOI: 10.3390/designs7060140

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.