realistic generation cost of solar photovoltaic electricity

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1、RenewableEnergy35(2010)563–569ContentslistsavailableatScienceDirectRenewableEnergyjournalhomepage:www.elsevier.com/locate/reneneRealisticgenerationcostofsolarphotovoltaicelectricityParmPalSingh*,SukhmeetSinghSchoolofEnergyStudiesforAgriculture,PunjabAgri

2、culturalUniversity,Ludhiana,Punjab–141004,IndiaarticleinfoabstractArticlehistory:Solarphotovoltaic(SPV)powerplantshavelongworkinglifewithzerofuelcostandnegligiblemain-Received2March2009tenancecostbutrequireshugeinitialinvestment.Thegenerationcostofthesol

3、arelectricityismainlytheAccepted26July2009costoffinancingtheinitialinvestment.Therefore,thegenerationcostofsolarelectricityindifferentAvailableonline1September2009yearsdependsonthemethodofreturningtheloan.Currentlylevelizedcostbasedonequatedpaymentloanisb

4、eingused.ThestaticlevelizedgenerationcostofsolarelectricityiscomparedwiththecurrentKeywords:valueofvariablegenerationcostofgridelectricity.ThisimpropercostcomparisonisinhibitingtheSolarphotovoltaiceconomicsgrowthofSPVelectricitybycreatingwrongperceptiont

5、hatsolarelectricityisveryexpensive.InthisSolarelectricitypricepaperanewmethodofloanrepaymenthasbeendevelopedresultingingenerationcostofSPVelectricityGraduatedpaymentloanLevelizedcostthatincreaseswithtimelikethatofgridelectricity.Ageneralizedcapitalrecove

6、ryfactorhasbeenVariablecostdevelopedforgraduatedpaymentloaninwhichcapitalandinterestpaymentineachinstallmentareSPVelectricitygenerationcostcalculatedbytreatingeachloaninstallmentasanindependentloanfortherelevantyears.Generalizedresultshavebeencalculatedw

7、hichcanbeusedtodeterminethecostofSPVelectricityforagivensystematdifferentplaces.ResultsshowthatforSPVsystemwithspecificinitialinvestmentof5.00$/kWh/year,loanperiodof30yearsandloaninterestrateof4%thelevelizedgenerationcostofSPVelectricitywithequatedpayment

8、loanturnsouttobe28.92¢/kWh,whilethecorrespondinggenerationcostwithgraduatedpaymentloanwithescalationinannualinstallmentof8%variesfrom9.51¢/kWhinbaseyearto88.63¢/kWhin30thyear.So,inthiscase,therealisticcurrentgenerationcost