Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

Techno-economic Feasibility Study of a 1.5 MW Grid-connected Solar Power Plant in Bangladesh

Md. Feroz Ali
* ORCID logo ,
Nitai Kumar Sarker
,
Md. Alamgir Hossain
ORCID logo ,
Shafiul Alam
ORCID logo ,
Ashraf Hossain Sanvi
ORCID logo ,
Syed Ibn Sifat
ORCID logo
Version 1 : Received: 17 October 2023 / Approved: 18 October 2023 / Online: 18 October 2023 (08:12:42 CEST)

A peer-reviewed article of this Preprint also exists.

Ali, M.F.; Sarker, N.K.; Hossain, M.A.; Alam, M.S.; Sanvi, A.H.; Syam Sifat, S.I. Techno-Economic Feasibility Study of a 1.5 MW Grid-Connected Solar Power Plant in Bangladesh. Designs 2023, 7, 140. Ali, M.F.; Sarker, N.K.; Hossain, M.A.; Alam, M.S.; Sanvi, A.H.; Syam Sifat, S.I. Techno-Economic Feasibility Study of a 1.5 MW Grid-Connected Solar Power Plant in Bangladesh. Designs 2023, 7, 140.

Abstract

This study addresses the pressing energy constraints in nations like Bangladesh by proposing the implementation of photovoltaic (PV) microgrids. Given concerns about environmental degrada-tion, limited fossil fuel reserves, and volatile product costs, renewable energy sources are gaining momentum globally. Our research focuses on a grid-connected solar PV system model at Char Jazira, Lalpur, Natore, Rajshahi, Bangladesh. Through PVsyst simulation software, we assess the performance ratio (PR) and system losses, revealing an annual solar energy potential of 3375 MWh at Standard Test Condition (STC) efficiency. After considering losses, the system generates 2815 MWh annually, with 2774 MWh exported to the grid. We analyze an average PR of 78.63% and calculate a levelized cost of energy (LCOE) of 2.82 BDT/kWh [1 USD = 110 BDT]. The financial assessment indicates a cost-effective LCOE for the grid-connected PV system, with an annual gross income of 27744 BDT from selling energy to the grid and operating costs of 64060.60 BDT/year. Remarkably, this initiative can prevent 33074.061 tCO2 emissions over the project’s 25-year lifespan.

Keywords

carbon footprint; performance ratio; photovoltaic array system; PVsyst software; panel orienta-tion; levelized cost of electricity/energy (LCOE); payback period; return on investment (ROI); cost-effectiveness; project lifespan

Subject

Engineering, Electrical and Electronic Engineering

Copyright: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

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