Techno-economic analysis of tilt angle and inter-row spacing: Optimization of a 200 MW floating solar PV plant

Abstract

Floating photovoltaic (FPV) systems offer a promising solution for renewable energy generation in densely populated and land-scarce countries like Bangladesh. This study presents a techno-economic optimization of a 200  MW grid-connected FPV plant proposed for Kaptai Lake (22.63° N, 92.24° E). Using PVsyst software (Version 7.4.7), 100 system configurations were simulated by varying tilt angles (18°–27°) and inter-row spacings (0.2–2.0  m) to evaluate energy output, shading losses, performance ratio (PR), and financial feasibility. The optimal configuration—22° tilt and 0.8  m spacing—yields 399.8 GWh annually with an 83.21 % PR, minimal shading (1.71 %), and array/system losses of 0.804 % and 0.077 %, respectively. Economic indicators confirm strong viability, with a Net Present Value (NPV) of USD 226.23 million, Levelized Cost of Electricity (LCOE) of USD 0.0433/kWh, payback period of 5.81 years, 149.2 % ROI, and 19.25 % IRR. Although higher tilt or spacing can increase output marginally, they significantly escalate installation costs (up to USD 190.62 million), undermining cost-effectiveness. This study demonstrates that FPV is not only land-efficient and environmentally sustainable, it reduces 4740316.3 tons CO₂ emission, but also economically viable for large-scale deployment in Bangladesh. The simulation-based approach provides a replicable model for future FPV projects on inland water bodies, contributing to national energy diversification and climate resilience goals.