Title :
Cost evaluation of a stand-alone residential photovoltaic power system in Malaysia
Author :
Applasamy, Vigneswaran
Author_Institution :
Center for Found. Studies, Quest Int. Univ. Perak, Ipoh, Malaysia
Abstract :
This article reviews the cost to generate per kilowatt hour of electricity applying life cycle costing (LCC) analysis for a typical household of four using stand-alone photovoltaic technology. RETScreen was used to determine the cost of developing the stand-alone photovoltaic system and finally deriving to the cost per kilowatt hour for the various photovoltaic technologies taking into consideration all major components involved in the construction. Life cycle costing is employed over a period of 25 years subject to annual interest rates and inflation to accurately ascertain the cost per kilowatt hour for each photovoltaic module. A price comparison was undertaken between the national utility company and the stand-alone system. Ultimately, results show that albeit having several advantages from the environmental perspective compared to current power generating sources, the major drawback is the high cost of between RM 1.17 - RM 1.21 per kilowatt hour which is more than five times the current cost of electricity for residential household.
Keywords :
life cycle costing; photovoltaic power systems; power generation economics; LCC analysis; Malaysia; RETScreen; cost evaluation; life cycle costing analysis; national utility company; residential household; stand-alone residential photovoltaic power system; time 25 year; Batteries; Building integrated photovoltaics; Inverters; Maintenance engineering; Renewable energy resources; batter; converters; inverter; life cycle costing; photovoltaic modules;
Conference_Titel :
Business, Engineering and Industrial Applications (ISBEIA), 2011 IEEE Symposium on
Conference_Location :
Langkawi
Print_ISBN :
978-1-4577-1548-8
DOI :
10.1109/ISBEIA.2011.6088807