Economic and Performance Analysis of PV System and Grid Supply for High Rise Building and Luxury Villa in Pakistan

Abstract

Electrical energy sector is very rapidly moving towards a more sustainable and greener future due to the widespread installations of Distributed Generators (DGs). Among other DGs, the Photovoltaic system is one of the most promising technologies which can easily meet our future energy demand while mitigating climate change. Due to this reason, many developing countries are shifting very rapidly from fossil fuel power generators to the solar photovoltaic power system. However, to successfully implement a PV system at a residential or commercial scale, performance and economic analysis are necessary before its practical installation to analyze the future benefits, suitability, and outcomes. In this paper, we have used PVsyst software to simulate and design a PV system for a luxury villa and a set of three high-rise buildings located in Islamabad, Pakistan. A detailed payback analysis has been carried out for both upfront cash purchasing or by taking a loan from the bank (financing) for installing the PV system. The performance ratio has also been calculated for the PV plant for both locations. Moreover, a comparison between cash back saving for 25%, 50%, and 100% PV systems for both locations is also presented in this research work.