Feasibility analysis of grid tied solar park in coastal region

Abstract

This project work focuses on energy yield assessment and feasibility analysis of a grid tied solar photovoltaic power plant in coastal region of Bangladesh. Bangladesh is experiencing a gradual depletion of its primary energy resource such as natural gas and time has come to explore and harness the full potential of alternative energy sources to ensure our long-term energy security as well as sustainable economic development.

Realizing the importance, Bangladesh Government attaches due importance on renewable energy. One of the most common sources of renewable energy now a day is solar and its production over other energy sources rising globally. With the advancement in carbon emission reduction and the development of low carbon power system, solar power technology has become a new hot issue of renewable energy and it is of crucial importance to solve the interlinked global challenges of climate change and energy security.

The selected site located at sabrang, Teknaf, Cox’s Bazar near to BREB substation Teknaf-4 (Proposed), latitude is 20.83º N and longitude is 92.31º E. Global Horizontal Irradiation (GHI) at sabrang is 1863 kWh/m2 /Year. To assess solar irradiation and estimate annual energy yield for this location, a simulation has been conducted with photovoltaic simulation software PVsyst version 7.1.2. This project work also taken into account all measurable loss factor such as optical losses, PV array losses, DC to AC conversion losses and others system losses.

Finally, a financial analysis has been done by calculating the key financial profitability indicators such as levelized cost of electricity (LCOE), net present value (NPV), internal rate of return (IRR), Payback period (PBP) benefit-to-cost ratio (B/C) or profitability index (PI). Project work also assessed the measurable risk for this selected project.