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Economic analysis of Solar PV Uptake in New-Zealand

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Added on  2020-05-11

Economic analysis of Solar PV Uptake in New-Zealand

   Added on 2020-05-11

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Economic analysis of Solar PV Uptake inNew-Zealand1
Economic analysis of Solar PV Uptake in New-Zealand_1
Executive SummaryThis report is based on a detailed economic analysis of grid connected, residentialsolar photo voltaic systems in three different cities in New Zealand. The cities chosen forcarrying out such a study are Southland, Tasman and Northland as they are located in thesouthern, northern and central parts of New Zealand and all of them have different values ofirradiance and the hours of sunlight in these places are also different. The analysis have beenmade by both considering and not considering battery systems. Three different sizes of Photovoltaic systems have been considered. The economic parameters that have been consideredfor making the analyses are the initial investment or capital cost required to setup a solar PVsystem, operation and maintenance cost of the systems considered, total life of operation ofthe system, discount rates given to such system and Levelized Cost of Energy(LCOE)calculation. Some of the other economic benefits obtained by using solar PV systems likecarbon dioxide reduction are also discussed in the report. Sensitivity analysis on the basis offuture PV system prices and carbon dioxide reduction benefits, grid benefits and so on arealso evaluated in the report. 2
Economic analysis of Solar PV Uptake in New-Zealand_2
Table of ContentsSl. No.ContentsPg. No.1Executive Summary22Abstract43Introduction44Economic Parameters Evaluated55Assumptions76Calculations87Discussion98Other Economic Benefits109Conclusion1110References123
Economic analysis of Solar PV Uptake in New-Zealand_3
AbstractResponding to the overall troubles of keeping up essentialness security whilecombatting natural change, the New Zealand government has issued a goal of creating 90%of the country's energy needs from supportable sources by 2025. With a considerable amountof New Zealand's age starting at now gave by hydro, geothermal and wind, questions stay inregards to whether this goal should be refined by more by and large grasping solar PhotoVoltaic (PV) into the essentialness mix. Following from past GREEN Grid investigate into the take-up of solar PV in NewZealand, this paper considers the monetary issues of PV age at a grouping of scales: privateroof; business rooftop; and ground-mount utility. For each scale, set apart down cash streamswere used to overview system costs and budgetary returns, and levelized cost of essentialnessused to differentiate and distinctive wellsprings of age.This project evaluates the economics involved in setting up and maintaining a solarPV system. It helps in evaluating the profit or loss generated by setting up a solar PV system.The project also evaluates other economic benefits of setting a solar PV system. The detailedresults are presented in the paper.IntroductionSolar generation makes up only 0.1% of our total manageable power source. Pricediminishments in solar Photo Voltaic (PV) equipment have made it all the more outstandingwith contract holders and associations, disregarding the path that for most it remains costlierthan system gave control (Electricity Authority, 2017). Solar PV is seen as a 'troublesome development' as it challenges the customary modelof energy game plan. Close by other dangerous developments, (for instance, advancedmetering, savvy contraptions, moved batteries) it's presumably going to add to changes inessentialness exhibit design, imperativeness approach and assessing structures later on(Wood, Miller and Claridge, 2013).On account of private age, there is a noteworthy distinction in the estimation ofvitality which is privately expended versus that which is framework traded. Therefore, the4
Economic analysis of Solar PV Uptake in New-Zealand_4

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