The aim of this study is to propose a guideline for solar energy investment. Two solar energy investment methods are discussed for the investors: Photovoltaic (PV) Power Plants and Parabolic Trough Power Plants (PTPP). In this study, parabolic trough investment is discussed with Molten Salt technology which is one of the most advanced thermal energy storage systems. This technology is crucial for solar investment because it distinguishes these systems from other types of power plants by enabling electricity generation on cloudy days and/or during the night. Investment analysis of both plant types are completed with engineering and economic feasibility studies. This study focuses on solar energy potential of the city of Konya, Turkey and 10 MW installed capacity is applied for 25 years in both plant types as a case study. Comparison of obtained results is heavily based on net present value (NPV) approach. Empirical results demonstrate that the proposed methods are viable approaches for solar investment in Konya. On the other hand, it generates a guideline for investors in other countries by applying the solar insolation variables of the location to thermodynamic equations which are proposed in this article. However, the investment strategy varies depending on the solar potential and decision maker’s risk attitude.
| Published in | International Journal of Renewable and Sustainable Energy (Volume 2, Issue 6) |
| DOI | 10.11648/j.ijrse.20130206.17 |
| Page(s) | 229-241 |
| Creative Commons |
This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited. |
| Copyright |
Copyright © The Author(s), 2013. Published by Science Publishing Group |
Photovoltaic, Parabolic Trough, Molten Salt, Energy Storage, Investment
| [1] | Deloitte, Sunny Days at Renewable Energy, 2012, Available at http://www.deloitte.com/assets/Dcom-Turkey/Local%20Assets/Documents/turkey_tr_enerji_yenilenebilirdegunesligunler_010812.pdf (from Turkish) |
| [2] | Construction Site, March 2013, Available at http://www.milliemlak.gov.tr |
| [3] | Photovoltaic Power Plant Electricity Generation Scheme, 2006, Available at http://holbert.faculty.asu.edu/eee463/SOLAR.HTML |
| [4] | DC Cable Information, March 2013, Available at http://www.topcable.com/es/tipos-de-cable/Cables-fotovoltaicos/ |
| [5] | DC Cable Price Information, March 2013, Available at http://store.proinso.net/europe/cavi/top-cable-topsolar-pv-zz-f-as-1x10-p_185.html?osCsid=0jveknid3qj5in31ughgog2131 |
| [6] | Inverter Information, March 2013, Available at http://store.proinso.net/europe/sma/sunny-central-c_32_70_38.html |
| [7] | Transformer Information, March 2013, Available at http://store.proinso.net/europe/sunny-central/sma-sunny-central-tsc-500sc-de-p_514.html |
| [8] | String Monitor Price Information, March 2013, Available at http://store.proinso.net/europe/quadri-di-campo/sma-sunny-string-monitor-16-21-p_481.html |
| [9] | PV Module Information, March 2013, Available at http://www.wholesalesolar.com/ |
| [10] | Solar Millenium Animation, March 2013, Available at http://www.solarmillennium-invest.de/cms/upload/Flash/andasol_blue_engl.swf |
| [11] | Tadahmun Ahmed Yassen, Experimental and Theoretical Study of a Parabolic Trough Solar Collector, Anbar Journal for Engineering Sciences AJES-2012, Vol.5, No.1 |
| [12] | Mirrored Stainless Steel Price Information, March 2013, Available at http://csmirrors.co.uk/stainless-steel-mirrors/ |
| [13] | Ulf Herrmann, Bruce Kelly, Henry Price, Two-Tank Molten Salt Storage for Parabolic Trough Solar Power Plants, Elsevier Science Direct Energy 29 (2004) 883–893 |
| [14] | Rankine Cycle, November 2013, Available at http://www.thermopedia.com/content/1072/ |
| [15] | Definition of Enthalpy, November 2013, Available at http://hyperphysics.phy-astr.gsu.edu/hbase/thermo/firlaw.html |
| [16] | Mollier Diagram, November 2013, Available at http://www.engineeringtoolbox.com/mollier-diagram-water-d_308.html |
APA Style
Doruk Sen, Murat Tunc, Taylan Ozilhan. (2013). Investment Analysis of a New Solar Power Plant. International Journal of Sustainable and Green Energy, 2(6), 229-241. https://doi.org/10.11648/j.ijrse.20130206.17
ACS Style
Doruk Sen; Murat Tunc; Taylan Ozilhan. Investment Analysis of a New Solar Power Plant. Int. J. Sustain. Green Energy 2013, 2(6), 229-241. doi: 10.11648/j.ijrse.20130206.17
AMA Style
Doruk Sen, Murat Tunc, Taylan Ozilhan. Investment Analysis of a New Solar Power Plant. Int J Sustain Green Energy. 2013;2(6):229-241. doi: 10.11648/j.ijrse.20130206.17
Share This Article
Twitter
Linked In
Facebook
Copy
Download@article{10.11648/j.ijrse.20130206.17,
author = {Doruk Sen and Murat Tunc and Taylan Ozilhan},
title = {Investment Analysis of a New Solar Power Plant},
journal = {International Journal of Sustainable and Green Energy},
volume = {2},
number = {6},
pages = {229-241},
doi = {10.11648/j.ijrse.20130206.17},
url = {https://doi.org/10.11648/j.ijrse.20130206.17},
eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijrse.20130206.17},
abstract = {The aim of this study is to propose a guideline for solar energy investment. Two solar energy investment methods are discussed for the investors: Photovoltaic (PV) Power Plants and Parabolic Trough Power Plants (PTPP). In this study, parabolic trough investment is discussed with Molten Salt technology which is one of the most advanced thermal energy storage systems. This technology is crucial for solar investment because it distinguishes these systems from other types of power plants by enabling electricity generation on cloudy days and/or during the night. Investment analysis of both plant types are completed with engineering and economic feasibility studies. This study focuses on solar energy potential of the city of Konya, Turkey and 10 MW installed capacity is applied for 25 years in both plant types as a case study. Comparison of obtained results is heavily based on net present value (NPV) approach. Empirical results demonstrate that the proposed methods are viable approaches for solar investment in Konya. On the other hand, it generates a guideline for investors in other countries by applying the solar insolation variables of the location to thermodynamic equations which are proposed in this article. However, the investment strategy varies depending on the solar potential and decision maker’s risk attitude.},
year = {2013}
}
TY - JOUR T1 - Investment Analysis of a New Solar Power Plant AU - Doruk Sen AU - Murat Tunc AU - Taylan Ozilhan Y1 - 2013/11/20 PY - 2013 N1 - https://doi.org/10.11648/j.ijrse.20130206.17 DO - 10.11648/j.ijrse.20130206.17 T2 - International Journal of Sustainable and Green Energy JF - International Journal of Sustainable and Green Energy JO - International Journal of Sustainable and Green Energy SP - 229 EP - 241 PB - Science Publishing Group SN - 2575-1549 UR - https://doi.org/10.11648/j.ijrse.20130206.17 AB - The aim of this study is to propose a guideline for solar energy investment. Two solar energy investment methods are discussed for the investors: Photovoltaic (PV) Power Plants and Parabolic Trough Power Plants (PTPP). In this study, parabolic trough investment is discussed with Molten Salt technology which is one of the most advanced thermal energy storage systems. This technology is crucial for solar investment because it distinguishes these systems from other types of power plants by enabling electricity generation on cloudy days and/or during the night. Investment analysis of both plant types are completed with engineering and economic feasibility studies. This study focuses on solar energy potential of the city of Konya, Turkey and 10 MW installed capacity is applied for 25 years in both plant types as a case study. Comparison of obtained results is heavily based on net present value (NPV) approach. Empirical results demonstrate that the proposed methods are viable approaches for solar investment in Konya. On the other hand, it generates a guideline for investors in other countries by applying the solar insolation variables of the location to thermodynamic equations which are proposed in this article. However, the investment strategy varies depending on the solar potential and decision maker’s risk attitude. VL - 2 IS - 6 ER -
Email: