Techno-economic analysis of a 2.1Â kW rooftop photovoltaic-grid-tied system based on actual performance

As more attention is being focus on the development of renewable energy resources globally, technical and economic assessments of these resources are crucial to ascertain their viability. These assessments can be more meaningful, if they are based on field and actual performance of the renewable energy conversion systems. This study presents the economic analysis of a rooftop 2.07 kW grid-connected photovoltaic energy system installation located in Ås (59.65°N and longitude 10.76°E, and about 105 m above sea level), Norway. Both the annual and monthly costs of energy produced by the system are determined. In addition, the feed-in tariff that can give internal rate of return of about 7.5% on investment on this installation was examined. Based on assumptions used in this study, feed-in-tariff of US$0.356/kW h is estimated for a project with economic life of 25 years with no other financial support. This translates to US$0.110/kW h premium over the levelized cost of energy of US$0.246/kW h generated by the system. However, if the financial support is more than 45% of the initial investment cost, no further premium fee is necessary to support this type of system.