Study of a Photo-voltaic (PV) system using excel: Economic analysis, modeling, simulation and optimization

Abstract

This paper is concerned with the economic analysis as well as modeling, simulation and optimization of a Photo-voltaic (PV) system by using a widely available and inexpensive computer platform. The impact of PV system location, wattage cost, loan interest rates, and government incentives on its economics is analyzed. Modeling, simulation and optimization of the PV system is accomplished using Microsoft Excel and its solver functions. A user friendly Microsoft Excel application has been developed to perform the economic analysis and system optimization. Economic analysis results clearly show that future research emphasis must be placed on developing more efficient PV system materials at lower wattage cost. The simulation and optimization results of the system are compared and are in agreement with experimental data reported for the MSX 60 PV system. Furthermore, to the best of the authors' knowledge, this is the first reported work where Microsoft Excel, an inexpensive and widely used tool, is used to model and optimize a PV system. © 2012 American Society for Engineering Education.