Design and cost analysis of 1kW photovoltaic system based on actual performance in Indian scenario

SummaryThe exhaustion of conventional resources and its effect on climate requires an urgent call for the substitute power resources to convene up the current power requirement. Solar energy is an endless, unsoiled and prospective energy source among all other nonconventional energy options. As more concentration is being done on focal point for the development of renewable energy capital globally. To ascertain their viability it is necessary to do the economic and technical assessments of these resources. This paper presents designing aspects and assessments of solar PV system based on field and actual performance. The study is based on design of solar PV system and a case study based on cost analysis of 1.0kW off-grid photovoltaic energy system installed at Jamia Millia Islamia, New Delhi (28.5616° N, 77.2802° E, and about 293m above sea level) India. Both monthly and weekly costs of energy produced by the 1kW PV system have been calculated. In addition, the solar PV 1kW system can give internal rate of return of about 1.714% on investment. Based on assumptions used in this study, solar 1kW PV system of Rs. 0.9724/kWh is estimated for a project with profitable life of 25 years with no other financial support. This translates to Rs. 80,000 payment over the livelier cost of energy of 1kWh generated by the system. However, if the financial support is more than 50% of the initial investment cost, no further payment fee is necessary to support this type of system. Basically this system has been designed for small home located at the place of availability of grid power is rare. 1kW PV solar system is also very useful in rural areas of India. India as a subcontinent receives great amounts of solar radiation annually