Study on the Economic Feasibility of a 100 kW Solar Mini Grid at Sandwip Island by Using RETScreen

Abstract

Inthis work the 100kw solar mini – gridinstalled at Sandwip has been studied thoroughly to analyze the investment. The mini-grid power generations plants include product model numbers are Grid tie inverter SMC11000TL,Bidirectional Inverter SI5048,Multi – clusterBox MC-Box 12.3,Sunny Island Charger SIC40,Bat fuse,Sunny Web Box,Solar modules: Kyocera, Deep cycle solar battery: Hoppecke- Germany, OPzS3000, 2V, 3000Ah, Generator 40KW.The electrical load is considered based on the local needs and the electrical load demand is 93.8 kW. The system supplies 230V ac. The major share of the energy comes from solar while the contribution of diesel generation is very small. Economic feasibility has been analyzed with RETScreen version 4, developed by Minister of Natural Resources Canada was used to evaluate benefits from clean energy production from power generation projects and savings through energy efficiency projects, accounting for project costs, emission reductions, and financial risk.Result shows that the project payback period of 7.4 years, the internal rate of return on equity(19.6%) and internal rate of return on asset (14.2%) (Life time of 20 years with low maintenace) in comparison with the local generating electricity, which predicts that the 100 kW solar mini grid at Sandwip, Chittagong is feasible for Bangladesh. The outcome of this project adverts that the solar mini grid can be a much better solution to protect our ambience and ameliorate the life style of the people in far villages who are underprivileged up until now.