Impacts of Electricity Rates on the Economics of Rooftop PV System
Abstract
The huge negative environmental impacts of using
fossil fuel-based electricity generation systems is widely visible in
terms of air pollutions, greenhouse gas emissions induced climate
change, and skyrocketing of electricity prices while the resource
is continuously being depleted. Using renewable energy source
such as solar energy will surely reduce the negative impacts of
conventional fuels used for electricity generation.
Mitigating the negative impact of the traditional energy
sources usage for the production of electricity needs a concerted
effort of all inhabitants of the planet Earth. Renewable energy
sources such as wind and solar have recently been seen as
saviours. While the technical possibility and their readiness are
seen as non-barriers to their deployment, one major barrier that
recently has been showing up is the economical comparison of
their economics with grid electricity where and when it is
available. The premium is still acceptable for having a standalone
PV system where grid electricity is not reachable. The economics
analysis of such standalone system can easily been computed as
there are less dynamics involved. The case is a bit complicated
where the PV system is grid-tied and bidirectional energy
exchange with the grid is allowable. Dynamics such as feed-in
tariffs, time of use tariffs, block tariffs et cetera makes the
economics analysis of grid-tied energy systems complicated to
model, analyse, and optimise. Net present cost as an economic
indicator of technical feasible grid-tied energy system is used to
assess the economic viability using HOMER software. Different
scenarios are evaluated with fixed electricity rate but with
different sellback prices.
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