The The Feasibility Study of Installing Hybrid Solar PV Systems for Residential Building: A Case Study of an Apartment with 26 Rooms
Keywords:
Feasibility study, Hybrid solar PV system, Apartment, Greenhouse Gas Emission Reduction, Economic Valuation AssessmentAbstract
This research was about the feasibility study on the applications of hybrid solar PV system for an apartment and aimed to study the parts of the technical design, the economic values, and the benefits of electricity consumption reduction from transmission lines by examining the apartment without solar PV system and the apartment with hybrid solar PV system, which could replace the electricity demand of the apartment for 2,207.40 MWh over the cycle of its project life. It could reduce greenhouse gas emissions from electricity generation by 1,256.45 tCO2 eq. According to the analysis of the differences in net present value using the financial sensitivity analysis with MARR of 5.50–7.50%, it showed that their differences in net present value between both projects were 104,408.09 to 799,620.76 baht. The case with MARR of 5.50% per year informed the best calculation results with net present value of 12,621,236.64 baht and payback period of 21 years and 4 months. With financial evaluation, it showed that the apartment with hybrid solar PV system was feasible to invest since it could be the profitable investment. In terms of investment, investors might not invest in the hybrid solar PV system due to its long payback period.
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