The economic viability of a stand-alone solar photovoltaic (PV) system with the most likely conventional alternative system, i.e. a diesel-powered system, has been analysed for energy demand through sensitivity analysis using a life-cycle cost computation. The sensitivity analysis allows estimation of the comparative viability of PV against a conventional alternative system based on particular country-specific parameters. The overall PV best and worst case viability, as compared to a conventional diesel-powered system, have been obtained from sensitivity analysis of the energy demand.
- Alternative energy sources
- Solar photovoltaic (PV)
- Life-cycle cost (LCC)
- Sensitivity analysis
Kolhe, M., Kolhe, S., & Joshi, J. C. (2002). Economic viability of stand-alone solar photovoltaic system in comparison with diesel-powered system for India. Energy Economics, 24(2), 155-165. https://doi.org/10.1016/S0140-9883(01)00095-0