Sizing and cost estimation methodology for stand-alone residential PV power system

Abstract

This paper investigates the sizing and costing methodology for a stand-alone photovoltaic (SAPV) power system based on the number of sunshine hours available in the world. The sizing and costing of the PV system for the electrical load of 3.65 kWh/day was presented in this paper for different continents of the world. The unit cost of electricity generated from the PV system was determined based on their life cycle cost analysis. The capital cost and unit cost of electricity for the SAPV systems were evaluated as $9,198/kWp and $0.6/kWh respectively for India. The total CO2 emission mitigated by the PV power system in its lifespan was estimated at 63 tons which correspond to the carbon credits of $2,048.