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Financial Analysis of a Large Scale Photovoltaic System and Its Impact on Energy Demand in KiribatiKorimara, Roman 04 July 2011 (has links)
Kiribati, a small and low lying island country located on the equator, is vulnerable to impact of Global Warming. In response, Kiribati¡¦s Government continues and remains firm to fight the increase of pollution gases. Rather than just fighting using words, Kiribati seriously takes into consideration issues which promote the use of clean energy in all aspects. .This thesis emphasizes the use of large scale photovoltaic (PV) installation as a clean energy source that may help contribute in the total energy demand for this island. Here, a large photovoltaic generation system as a Distribution Generation (DG) to feed main utility network (i.e. PUB) on the island, assumed to be constructed in the National Main Stadium (NMS) at Betio Town as the DG Interconnection site, is analyzed. This PVGS has been investigated from two different perspectives: 1) Independent Power Producer (IPP) point of view, which is the design of the selling price of PV power generation and 2) Utility point of view, which is the design of saving costs incurred from PVGS contribution. PV power generation is simulated according to the hourly solar irradiation and temperature provided by the Weather Office in Kiribati. The cash flow of annual power generation, the operation and maintenance costs and the capital investment cost of the PVGS are then used to derive the payback time (PBT) and the internal rate of return (IRR) for the PVGS under different selling price of PV power generation. The voltage variation and the system losses of the distribution feeder, which serves the National Stadium, are also evaluated by executing the load flow analysis for the impact analysis of the PVGS. Results indicate that the reduction of voltage variation and system¡¦s losses can be obtained with the PVGS installed to provide the dispersed generation for the local loads. However, the PVGS penetration is limited due to the violation of voltage variation introduced by the large intermittent PV power generation. The selling price of PV generation has to be designed according to the conditions of solar irradiation and temperature so that sufficient incentives can be provided.
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