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Investment Analysis of a New Solar Power Plant
International Journal of Sustainable and Green Energy
Volume 2, Issue 6, November 2013, Pages: 229-241
Received: Sep. 15, 2013; Published: Nov. 20, 2013
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Doruk Sen, School of Management, University of York, York, United Kingdom
Murat Tunc, Faculty of Engineering, Gedik University, Istanbul, Turkey
Taylan Ozilhan, Dept. of Industrial and Systems Engineering, Yeditepe University, Istanbul, Turkey
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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.
Photovoltaic, Parabolic Trough, Molten Salt, Energy Storage, Investment
To cite this article
Doruk Sen, Murat Tunc, Taylan Ozilhan, Investment Analysis of a New Solar Power Plant, International Journal of Sustainable and Green Energy. Vol. 2, No. 6, 2013, pp. 229-241. doi: 10.11648/j.ijrse.20130206.17
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