Potential and financial analysis of the floating PV in hydropower dams of Thailnad | |
| Author | Wanwisa Peanpitak |
| Call Number | AIT Thesis no.ET-20-03 |
| Subject(s) | Photovoltaic power systems--Finance Photovoltaic power systems--Thailand Power resources--Thailand--Finance |
| Note | A thesis submitted in partial fulfillment of the requirements for the degree of Master of Engineering in Energy, School of Environment, Resources and Development |
| Publisher | Asian Institute of Technology |
| Series Statement | Thesis ;no. ET-20-03 |
| Abstract | Solar power is one of the renewable energy sources that is most widely used in the world because of its cleanliness, abundance, and sustainability. During 2014-2018, the cumulative global FPV installed capacity has been growing exponentially. The advantages in terms of reducing evaporation, increasing efficiency, and utilization of existing infrastructure, the installation of large-scale FPV in hydropower dams has attracted attention. In this study, the FPV systems in hydropower dams of Thailand were evaluated on their potential power production and economic benefits. The potential energy production was carried out in five cases. Covering the water surface of about 2% and 2.5% on average, the annual energy production was estimated to be 5,771 GWh, and 7,648 GWh, respectively. To replace the annual hydropower production (about 5,511 GWh), the total capacity of the FPV could be installed at 3,758 MWp. The installation of the FPV systems covered 5% and 10% of the surface area, and was able to produce the highest electric power which was more than the power produced from the existing hydropower plants about 3.5 and 7 times, respectively. All five cases of potential energy production were considered for economic analysis. The highest economic benefit was found in the condition that FPV covers 10% of the surface area. As a result, it was expected to produce 40,096 GWh of electricity per year. This equals the amount of GHG reduction of approximately 24.22 million tCO2/year. The annual water evaporation reduction of 335.55 million m3/year is worth for agriculture about 27.85 million USD, and for the electricity production of 50,461 MWh. Based on the evaluation of various financial indicators, namely NPV, IRR, payback period, benefit-cost ratio (BCR), and electricity production cost (LCOE), the financial analysis results can ensure that all the FPV projects studied are profitable. The installation of the FPV system with a DC to AC ratio of 170% can obtain more profits in terms of NPV than an installation with a DC to AC ratio of 125%, however the installation costs rise about 30%. Sensitivity analysis results indicated that the key parameters that affect the profitability of FPV projects are energy exported to the grid, electricity price, and initial investment. |
| Year | 2020 |
| Corresponding Series Added Entry | Asian Institute of Technology. Thesis ; no. ET-20-03 |
| Type | Thesis |
| School | School of Environment, Resources, and Development (SERD) |
| Department | Department of Energy and Climate Change (Former title: Department of Energy, Environment, and Climate Change (DEECC)) |
| Academic Program/FoS | Energy Technology (ET) |
| Chairperson(s) | Singh, Jai Govind; |
| Examination Committee(s) | Xue, Wenchao;Weerakorn Ongsakul; |
| Scholarship Donor(s) | Her Majesty the Queen's Scholarships (Thailand); |
| Degree | Thesis (M. Eng.) - Asian Institute of Technology, 2020 |