Numeric Model Analysis of a Large Scale Solar PV Generations
M. H. Jali1, Z.H. Bohari2, T.A. Izzuddin3, H. Sarkawi4, M.F. Sulaima5, A. Ibrahim6
1M. H. Jali, Department of Electrical Engineering, Universiti Teknikal Malaysia Melaka, Hang Tuah Jaya, 76100 Durian Tunggal, Melaka, Malaysia.
2Z.H. Bohari, Department of Electrical Engineering, Universiti Teknikal Malaysia Melaka, Hang Tuah Jaya, 76100 Durian Tunggal, Melaka, Malaysia.
3T.A. Izzuddin, Department of Electrical Engineering, Universiti Teknikal Malaysia Melaka, Hang Tuah Jaya, 76100 Durian Tunggal, Melaka, Malaysia.
4H. Sarkawi, Department of Electronic & Computer Engineering, Universiti Teknikal Malaysia Melaka, Hang Tuah Jaya, 76100 Durian Tunggal, Melaka, Malaysia
5M.F. Sulaima, Department of Electrical Engineering, Universiti Teknikal Malaysia Melaka, Hang Tuah Jaya, 76100 Durian Tunggal, Melaka, Malaysia.
6A. Ibrahim, Department of Electrical Engineering, Politeknik Melaka, Plaza Pandan Malim, 75250 MALIM, Melaka, Malaysia.
Manuscript received on 16 November 2015 | Revised Manuscript received on 28 November 2015 | Manuscript Published on 30 November 2015 | PP: 10-15 | Volume-5 Issue-6, November 2015 | Retrieval Number: F2219115615/2015©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: This paper presents a numeric model analysis of a large scale solar photovoltaic (PV) generations projects taking advantage of the Feed-in Tariff (FiT) policies by government. It proposed an optimal plan for low risk and high return investment of one of the most rapidly growth renewable energy technology. In order to achieved that target, several selection criteria has been described such as strategic location, long life time materials, high durability and reliability, less maintenance and affordable raw material price. The objective of this study is to propose an optimal investment plan using structured numeric model analysis based on the case study at the Kuala Lumpur International Airport (KLIA), Malaysia. The PV generation project investment achievement is measured using several parameters such as cash flow, Return of Investment (ROI), payback period, Net Present Value (NPV), Internal Rate of Return (IRR) and cost break-even analysis. Based on the analysis, it can be convinced that solar PV generation FiT project is desired to undertake where it provides good long-term investment.
Keywords: Photovoltaic (PV), Feed-in tariff (FiT), Renewable energy, numeric model analysis, investment.
Scope of the Article: Renewable Energy