Work

Techno economic study of floating solar photovoltaic project in Indonesia using RETscreen

Year: 2024

Type: article

Abstract: The utilization of solar energy is crucial for the advancement of sustainable power generation on a worldwide scale, driven by environmental concerns and the depletion of fossil fuels. Indonesia's goal is to achieve carbon neutrality by 2060 and it is aggressively advocating for solar energy, which includes the implementation of new methods such as floating photovoltaic (PV) systems. This study evaluates the Techno-Economic Feasibility of Indonesia's Cirata 145 MW floating solar PV project by employing RETScreen technology. The objective is to improve the long-term financial stability, decrease greenhouse gas emissions, and suggest viable choices for improvement. Examining three scenarios that involve alterations in carbon emissions, energy pricing, and loan interest rates demonstrates different levels of project feasibility. The introduction of carbon tax emission pricing has a substantial impact on the feasibility of projects. This study provides useful insights into doing techno-economic feasibility assessments using RETScreen for floating photovoltaic (PV) systems. It demonstrates how modifying parameters can effectively mitigate project risks.

Source: Cleaner Energy Systems

DOI: 10.1016/j.cles.2024.100155

Authors: Muhammad Rifansyah, Dzikri Firmansyah Hakam

Institution: Bandung Institute of Technology

Language: English

Topic: Photovoltaic Systems and Sustainability

Subfield: Environmental Engineering

Field: Environmental Science

Domain: Physical Sciences

SDGs: Industry, innovation and infrastructure, Climate action, Affordable and clean energy

Open Access status: gold

Estimated APC paid: $1,200