Life cycle cost analysis of a hybrid photovoltaic-thermal water and air collector: A comparison study based on energy and exergy

Abstract

In this present paper, a life cycle cost analysis based on the energy and exergy analysis of a hybrid photovoltaic-thermal (HPV/T) water collector has been carried out for various Indian cities, i.e. Srinagar, Mumbai, Jodhpur, New Delhi and Banglore. The main focus of the study is to see the effect of interest rate, life of HPV/T water collector, subsidy, etc, on cost/kWh. The study reveals that (i) annual thermal and electrical efficiency decreases with an increase in solar radiation and (ii) cost/kWh is higher in the case of exergy than in the case of thermal energy. The results of a HPV/T water and air collector have also been compared. It is observed that the thermal efficiency of a HPV/T water collector is higher than that of a HPV/T air collector by 20%-25%. Similarly, electrical and exergy efficiencies differ by 2%-5%. Further, it is observed that the cost/kWh of a HPV/T water collector is lower than that of a HPV/T air collector for all locations covered in the study.