Economic Evaluation of Solar Photovoltaic Systems

Solar energy is among the most significant renewable energies in Iran, since the majority of regions in Iran have a remarkable potential to exploit solar energy. For example, in the city of Mashhad, considering the geographical location and 313 sunny days out of 365 days per year, solar energy is applicable in various industrial and household sections. The purpose of this paper is assessing the feasibility of using a photovoltaic system to supply the electrical load required for a residential complex in Mashhad as a case of household uses. Results of this study show that the use of these systems in residential complexes is justifiable, so that with the initial investment of 200 million Rials, the internal rate of return in a residential complex with an average use of 400 kw per month for each unit is 22.83 percent

Keywords:

Solar energy , photovoltaic system , Economic-Financial Assessment