Economic evaluation of grid connected and standalone photovoltaic systems using PVSyst

Abstract

Nowadays, the consumption of household electricity has been increased with the cost per unit of energy. Due to this, the consumers are pushed in seeking an alternate source of energy such as renewable energy. Thus, solar photovoltaic (PV) systems being small and economically viable modules are coming into action. Even though designing a PV system is has been proven to be a tedious work, not due to the complexity but due to various options that are laid down. Basically, PV systems are divided to standalone, hybrid and grid-connected systems. Solar PV panels are considered as the only source in generating the electricity. Using the simulation software PVSyst, the economic viability of a typical household backup system connected to grid and as a standalone system are analysed. The reliability, performance and financial values of both the systems are compared and presented here.