Techno-Economic Analysis of proposed 10kWp Floating Solar Plant at Koyana Dam, Maharashtra, India

Abstract

Floating Solar Photovoltaic (FSPV) is a new type of renewable energy that aims to make the environment healthier. Solar modules placed on the water surface in the FSPV plant eliminate the need for the land in a Ground-mounted Solar Photovoltaic (GSPV) plant. Reduced cell temperature due to cooling water increases energy gain from the panels, which is an added benefit over ground-mounted PV. Also, modules provide shade to the water body, minimizing evaporation from the reservoir. Along with this, FSPV mitigates the environmental effects caused by GSPV plants, such as deforestation for land clearing and different civil work required to install panels. The proposed 10kWp FSPV plant at Koyana dam gives 4.08% more energy yield yearly than the GSPV plant of the same capacity and at the same location. This plant will reduce the 111.7 tons of CO2 emissions. Single-axis tracking FSPV system yields 18.57% more energy compared to fixed mounted FSPV system. Similarly, the two-axis tracking FSPV system gives 27.3% more energy gain than the fixed FSPV system. According to economic analysis, the Levelized Cost of Electricity (LCOE) is 4.064 Rs/kWh with a payback period of 9.4 years.