Floating solar power plant for sustainable development: A techno‐economic analysis

Abstract

The primary source of energy is depleting day by day owing to an increase in per capita energy consumption. To ensure energy security, to minimize climate change problems and to guarantee sustainable development, the useful utilization of renewable energy potential is of utmost importance. Recent researches reveal significant environmental effects in utilization of photovoltaic technology in large power plants located in urban locations. Further observations depict that the ground mounted PV power plants occupy large land spaces in the modern cities. These have led to the escalation of land price which has resulted in increasing the levelized tariff of electricity. Floating Solar Photovoltaic (FSPV) is an alternative to mitigate the aforesaid problems. In this article, a techno‐economic feasibility of a 10 MW FSPV plant is done to show the economic viability and environmental suitability in maintaining ecological balance through adoption of floating solar photovoltaic technology as compared to conventional ground mounted PV systems. The results show that floating solar photovoltaic power plant has 10.2% more generating capacity than land based PV system and producing 28.38 MU excess generation over the life cycle of the plant. The FSPV plant will save the land cost burden of USD 352125 and water cess burden of USD 47,600. This results in reducing the levelized tariff of FSPV plant to USD 0.026/kWh which is 39% less than land based PV power plant. The FSPV plant will also save 92,945.92 MT of Coal and a total CO2 emission of 340,801.74 ton. The FSPV power plant will help to bridge the gap between energy demand and supply along with reducing the cost of electricity and protecting the environment.

Assessment of 50 kWp rooftop solar photovoltaic plant at The ICFAI University, Jaipur: A case study

“…The proliferation in energy demand is evolving as a serious issue globally, due to rapid industrialization and urbanization. At present, approximately 80% of global and 65% of Indian energy demand depends upon the conventional sources such as natural gas, coal, and liquid fuels . Resource scarcity, energy security, emission of both primary and secondary air pollutants, and the resultant climate change are dominant issues analogous to energy generation using these resources.…”

Identification and Analysis of Impact Factors on the Economic Feasibility of Photovoltaic Energy Investments

“…The shading effects on the panels can be caused by barriers such as objects, vegetation, proximity to buildings, and accumulation of dust, among others, which can reduce the energy production. According to Goswami et al [23], the reliability and energy efficiency of the PV plant are determined by the performance rate and this rate depends, among other factors, on the shading of the PV panels. According to Yendaluru et al [20], the sizing of the PV plant and the balance of the system (BoS) should be performed based on the shadow-free area.…”

“…According to Goswami et al [23], the maintenance cost must be provided in an agreement for PV projects, and must be included in a maintenance contract. For them, the annual maintenance contract can be awarded for 5 years, also includes training of personnel for daily operations, and can be renewed every 5 years to maintain the health of the installation devices.…”

“…For Goswami et al [23], the present value of the cash inflow generated by the sale of energy injected into the grid is correlated with the incentives given by the government. In research by Barone et al [32], different scenarios are investigated for the surplus of electricity produced.…”

“…Chiacchio et al [41] argue that the main efficiency degradation process depends on meteorological factors, such as wind speed, passing clouds in PV units, incident irradiance, and ambient temperature. Higher daily energy production of PV plants, due to the increase in efficiency, causes a greater return on investment [23].…”