Research Article Open Access

Cost Benefit Analysis of Implementing a Solar Photovoltaic System

Abstract

An environmental cost benefit analysis (ECBA) was used to determine the feasibility using solar photovoltaic (PV) as an alternative power source. The capital investment cost and the cost of externalities such NOx and CO2 emissions from a natural gas power generation process were valued. The environmental impact of treating waste water was valued based on Cost–Benefit Analysis Using Data Envelopment Analysis. The ECBA results indicated that using solar photovoltaic modules is a feasible option and is comparable to the existing conventional grid power mode of operation. The difference between the present value of benefits of using the PV grid tied system and that of using conventional grid power supply was 4.5% for the WWTP. Due to the highly subsidised price of electrical power in Trinidad and Tobago the payback period analysis showed 32.9 years and 86.8 years for the grid tied and standalone PV system, respectively.

Krishpersad Manohar, Rikhi Ramkissoon, Anthony Adeyanju