Effect of non-technical factors on the electricity cost of the photovoltaic (PV) systems Original Research Article

There is an extensive range of applications where the photovoltaic (PV) systems are already viewed as the best and economical option for electricity supply. These systems are usually stand-alone, and exploit the following advantages of PV electricity: (i) there are no fuel costs or fuel supply problems; (ii) the equipment can usually operate unattended; (iii) it is very reliable and requires little maintenance. These advantages make solar PV to be seen as the greatest opportunity of electricity generation for billions of people throughout the world without electricity. However, there are some barriers hindering growth of this sector as the high cost of photovoltaic systems is capital intensive. The objective of this contribution to the conference is to present the results of a study conducted on the effects of non-technical factors on the capital and electricity costs of PV systems. In our research group we have developed a numerical method for calculating the electricity cost (considering time value of money) of the solar photovoltaic energy systems, which includes grid-connected, stand-alone and hybrid system. One of the features of this method is that it allows program user to investigate the effects of non-technical factors on the electricity cost of renewable sources.