Abstract:
For the development of a country, electricity is essential. For Bangladesh electricity generation cost is increasing rapidly as a result a solution is important to reduce the generation cost. At present, the scenario of power generation all over the world are mainly dependent on fossil fuel which is not climate-friendly and produces greenhouse gas that is responsible for global warming. Solar PV energy can be a solution. This solar PV model is designed by using a software tool named RETScreen. To design this study solar radiation, area, solar panel, and inverter price operation and management cost are considered. Total initial costs are BDT 34899013. We find a simple payback period of 6.7 years and an equity payback period is 4.7 years. An energy production cost is 4.986 BDT/kwh that’s is lesser than the electricity purchase price. Annual life cycle saving is BDT/yr 2164381. 563.3 tCO2 is gas emission is reduced every year. It is not only economically benefited but also environmentally benefited This study find that solar PV is financially feasible.
