Work

Economic Analysis for Using Solar Energy Implementation to Support the Development of Nusantara Capital

Year: 2024

Type: article

Abstract: The dynamic simulation model for economic analysis of solar energy in the new Indonesia's capital named IKN is a computer system designed to evaluate the viability of solar energy as a power source in the new capital being developed in East Kalimantan. The model aims to assess the economic feasibility of solar energy implementation, addressing cost-effectiveness. Strategies include policy enforcement, land optimization, and population growth impacts. The model's validation showed an error rate ‰¤ 5% and error variance ‰¤ 30%, confirming its accuracy. Scenario simulations (most likely, pessimistic, and optimistic) forecasted varying returns on investment (ROI), indicating solar energy's profitability under different conditions. The optimistic scenario predicted the highest ROI of 42% by 2045, with a break-even point by 2026.

Source: Journal of Renewable Energy Electrical and Computer Engineering

DOI: 10.29103/jreece.v4i2.16470

Authors: Muhammad Syamil Fadlillah, Erma Suryani, Rahmatika Jagad Pramundito

Institution: Institut Teknologi Sepuluh Nopember

Language: English

Topic: Renewable energy and sustainable power systems

Subfield: Renewable Energy, Sustainability and the Environment

Field: Energy

Domain: Physical Sciences

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

Open Access status: hybrid

Funder: Institut Teknologi Sepuluh Nopember