Performance and economic viability assessment of a 50 KWp rooftop solar photovoltaic system

Abstract

Green energy is a global consensus to cope with increasing energy needs. Recognising this fact, the Government of India is expecting 40% of the demand to be fulfilled through rooftop solar plants by 2022. As a result, in many metropolitan regions, government and non-government organisations installed rooftop Solar Photovoltaic (SPV) systems and the energy produced is consumed for their usage. To contribute to this universal mission of energy conservation, The ICFAI University, Jaipur, had taken a significant step by installing a 50 kWp SPV system on its campus. This paper presents the performance assessment and economic feasibility of the SPV system which is monitored between January 2018 and June 2018. The energy production of the plant at 34,476.64 kWh recorded during the period. The array, final, and reference yields are perceived to vary from 2.7 to 5.04 kWh/kW/day, 2.45 to 4.73 kWh/kW/day, and 3.22 to 7.4 kWh/kW/day respectively. The monthly average daily performance ratio (PR) and capacity utilisation factor (CUF) measured amid 16.39-76.97% and 10.23-19.71 respectively. To investigate the pecuniary feasibility of the venture, the net present value (NPV), Profitability Index (PI), Internal Rate of Return (IRR) and Payback Period are used for different discount and subsidy rates.