Influence of solar technology in the economic performance of PV power plants in Europe. A comprehensive analysis

Solar technology development in recent years has facilitated access to solar PV systems at increasingly competitive costs. This paper analyses the influence of solar technology on the economic performance of different topologies of PV power plants. An economic model is proposed and used to identify the most suitable type of installation for a wide range of input parameters. One of the main input parameters of the model developed is the location of the power plant in one of the seven EU countries with the largest PV growth. Location affects not only the solar irradiation received by the solar modules but also the costs associated with both the installation and the operation of the power plants. A detailed review of the costs related to PV power plants is presented. The size of the power plant as well as the PV technology and tracking system implemented are additional inputs of the economic model. This paper reviews the technological evolution of the PV sector, focusing not only on improvements in solar cell efficiency but also on the types of installed technology around the world. The three most widespread specific PV technologies are further analysed to find the type of installation most suited to a given country. In addition to the traditional financial indices commonly used to evaluate the economic performance of a project, the minimum feed-in tariff remuneration indicator is proposed and estimated in this work. Results are thus of great interest to investors, policy makers, and other stakeholders interested in the development of PV power plants.