Article,
Tables for Estimation of the Internal Rate of Return of Photovoltaic Grid Connected Systems
Renwable & Sustainable Energy Reviews, (2005)
Abstract
A continuous decrease trend in PV costs together with a wide variety
of supporting measures have turned photovoltaic grid-connected systems
(PVGCS) into a profitable investment when some economic conditions
are met. The internal rate of return (IRR) is a meaningful parameter
for prospective owners of these PV systems. Nevertheless, this parameter
has to be estimated by means of non-analytical methods. This paper
presents some easy-to-use tables addressed to estimate the IRR avoiding
cumbersome calculations, which is an attractive feature for owners,
marketers and designers. Firstly, current and near-term costs of
PVGCS are reviewed, together with some financial incentives available
at present. This introduces the economic scenario, where the tables
are to be used. A short introduction to the economic analysis of
these systems provides a solid ground to eventually present the tables
intended to the estimation of the IRR. Lastly, three examples demonstrate
the use of the tables.
