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A review of solar photovoltaic levelized cost of electricity [http://www.sciencedirect.com/science/article/pii/S1364032111003492] | |||
The paper provides an idea on Levelized cost of electricity for PV, authors also formulated the equation for LCOE-PV by considering the following factors: | |||
T Life of the project [years] | |||
t Year t | |||
Ct Net cost of project for t [$] | |||
Et Energy produced for t [$] | |||
It Initial investment/cost of the system including construction, installation, etc. [$] | |||
Mt Maintenance costs for t [$] | |||
Ot Operation costs for t [$] | |||
Ft Interest expenditures for t [$] | |||
r Discount rate for t [%] | |||
St Yearly rated energy output for t [kWh/year] | |||
d Degradation rate [%] | |||
No incentives from the government were taken into consideration while developing the equation, numerical example (Ontario, Canada) is provided with variable ranges to test sensitivity. | |||
Authors displayed that there is grid parity with PV generation and argued that PV is becoming advantageous compared to conventional power generation ways. | |||
Revision as of 09:41, 7 February 2016
A review of solar photovoltaic levelized cost of electricity [1]
The paper provides an idea on Levelized cost of electricity for PV, authors also formulated the equation for LCOE-PV by considering the following factors:
T Life of the project [years] t Year t Ct Net cost of project for t [$] Et Energy produced for t [$] It Initial investment/cost of the system including construction, installation, etc. [$] Mt Maintenance costs for t [$] Ot Operation costs for t [$] Ft Interest expenditures for t [$] r Discount rate for t [%] St Yearly rated energy output for t [kWh/year] d Degradation rate [%]
No incentives from the government were taken into consideration while developing the equation, numerical example (Ontario, Canada) is provided with variable ranges to test sensitivity. Authors displayed that there is grid parity with PV generation and argued that PV is becoming advantageous compared to conventional power generation ways.