Economic Viability of Photovoltaic Power Plant for Sukkur–Pakistan
Keywords:
emissions, economics, RET screen, solar photovoltaic, solar energy, solar trackingAbstract
Pakistan is confronting severe power shortages which bring out power cuts for several hours in the country. To diminish the shortfall of power, renewable energy sources must be exploited. Therefore, this research focuses on the feasibility of photovoltaic power plant by selecting the best site for installation of the power plant. Monthly average global solar radiations for nine (09) cities of Sindh province were compared and Sukkur was selected for proposed 10 MW PV power plant-based on highest radiations available in the region. For simulation purpose RET Screen software is used. Results have shown that 20.944 GW of energy can be generated using single axis tracking PV at an initial cost of $23.57 M, 40% debt ratio and 9% discount rate, the power plant will generate electricity at a rate of $0.068/kWh. Furthermore, emission analysis indicated that proposed power plant will reduce CO2 emissions by 8,894 tons/year. It is evident from the study that currently PV based power plants are economically feasible.