Cost-benefit Assessment of Ongrid Pv Solar Systems for a Two Storeyed Building

Abstract

For the development of a country, electrical energy 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 that 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 HOMER Pro. To design this study solar radiation, area, solar panel, and inverter price operation and management cost are considered. Total initial costs are $52639. We find a simple payback period of 8.7 years and an discount payback period is 12.16 years. An energy production cost is 0.0239 $/kwh that’s is lesser than the electricity purchase price. 1270 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.