Long-Term Effects of Degradation on Photovoltaic System Return on Investment
The adoption of photovoltaic (PV) systems has increased significantly in recent years, driven by the demand for off-grid and on-grid residential and commercial applications. However, the high initial investment required for PV installations has limited their widespread adoption. Governments and mark...
- Autores:
-
Cuadrado, Juan
Martinez, Elizabeth
Puertas, Edwin
Martinez-Santos, Juan Carlos
- Tipo de recurso:
- Fecha de publicación:
- 2023
- Institución:
- Universidad Tecnológica de Bolívar
- Repositorio:
- Repositorio Institucional UTB
- Idioma:
- eng
- OAI Identifier:
- oai:repositorio.utb.edu.co:20.500.12585/12570
- Acceso en línea:
- https://hdl.handle.net/20.500.12585/12570
- Palabra clave:
- Photovoltaic System
Performance Ratio
Degradation Model
Return on Investment
LEMB
- Rights
- closedAccess
- License
- http://purl.org/coar/access_right/c_14cb
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dc.title.spa.fl_str_mv |
Long-Term Effects of Degradation on Photovoltaic System Return on Investment |
title |
Long-Term Effects of Degradation on Photovoltaic System Return on Investment |
spellingShingle |
Long-Term Effects of Degradation on Photovoltaic System Return on Investment Photovoltaic System Performance Ratio Degradation Model Return on Investment LEMB |
title_short |
Long-Term Effects of Degradation on Photovoltaic System Return on Investment |
title_full |
Long-Term Effects of Degradation on Photovoltaic System Return on Investment |
title_fullStr |
Long-Term Effects of Degradation on Photovoltaic System Return on Investment |
title_full_unstemmed |
Long-Term Effects of Degradation on Photovoltaic System Return on Investment |
title_sort |
Long-Term Effects of Degradation on Photovoltaic System Return on Investment |
dc.creator.fl_str_mv |
Cuadrado, Juan Martinez, Elizabeth Puertas, Edwin Martinez-Santos, Juan Carlos |
dc.contributor.author.none.fl_str_mv |
Cuadrado, Juan Martinez, Elizabeth Puertas, Edwin Martinez-Santos, Juan Carlos |
dc.subject.keywords.spa.fl_str_mv |
Photovoltaic System Performance Ratio Degradation Model Return on Investment |
topic |
Photovoltaic System Performance Ratio Degradation Model Return on Investment LEMB |
dc.subject.armarc.none.fl_str_mv |
LEMB |
description |
The adoption of photovoltaic (PV) systems has increased significantly in recent years, driven by the demand for off-grid and on-grid residential and commercial applications. However, the high initial investment required for PV installations has limited their widespread adoption. Governments and marketing enterprises have implemented different strategies to promote PV systems to overcome this barrier, focusing on the return on investment (ROI) concept. However, the conventional approach uses limited economic factors to calculate the ROI. It fails to consider the impact of external factors, such as system degradation, which can vary between systems. To address this issue, we propose a new methodology to estimate the ROI of a photovoltaic system with greater accuracy. Our approach incorporates system-predicted degradation, calculated using historical meteorological data and prediction techniques. We applied this methodology to a photovoltaic system installed at the Universidad Tecnologica de Bolivar (UTB) in Cartagena and evaluated it against five different approaches. The results show that our proposed method offers a more accurate and reliable estimation of the ROI of a photovoltaic system, considering a broader range of factors. Overall, our work contributes to advancing the understanding of photovoltaic system ROI calculation and promotes using sustainable energy sources. By providing a more precise estimation of the ROI of a photovoltaic system, our methodology can help potential investors make more informed decisions and promote the adoption of clean energy sources. |
publishDate |
2023 |
dc.date.accessioned.none.fl_str_mv |
2023-11-28T20:28:05Z |
dc.date.available.none.fl_str_mv |
2023-11-28T20:28:05Z |
dc.date.issued.none.fl_str_mv |
2023-11-24 |
dc.date.submitted.none.fl_str_mv |
2023-11-27 |
dc.type.coarversion.fl_str_mv |
http://purl.org/coar/version/c_be7fb7dd8ff6fe43 http://purl.org/coar/version/c_970fb48d4fbd8a85 |
dc.type.coar.fl_str_mv |
http://purl.org/coar/resource_type/c_2df8fbb1 |
dc.type.driver.spa.fl_str_mv |
info:eu-repo/semantics/article |
dc.type.spa.spa.fl_str_mv |
http://purl.org/coar/resource_type/c_6501 |
dc.identifier.citation.spa.fl_str_mv |
Cuadrado, J., Ayala, E. J. M., Puertas, E., & Santos, J. C. M. (2023). Long-Term Effects of Degradation on Photovoltaic System Return on Investment (Vol. 21, Número 12). IEEE Latin America Transactions. |
dc.identifier.uri.none.fl_str_mv |
https://hdl.handle.net/20.500.12585/12570 |
dc.identifier.doi.none.fl_str_mv |
10.1109/TLA.2023.10305232 |
dc.identifier.instname.spa.fl_str_mv |
Universidad Tecnológica de Bolívar |
dc.identifier.reponame.spa.fl_str_mv |
Repositorio Universidad Tecnológica de Bolívar |
identifier_str_mv |
Cuadrado, J., Ayala, E. J. M., Puertas, E., & Santos, J. C. M. (2023). Long-Term Effects of Degradation on Photovoltaic System Return on Investment (Vol. 21, Número 12). IEEE Latin America Transactions. 10.1109/TLA.2023.10305232 Universidad Tecnológica de Bolívar Repositorio Universidad Tecnológica de Bolívar |
url |
https://hdl.handle.net/20.500.12585/12570 |
dc.language.iso.spa.fl_str_mv |
eng |
language |
eng |
dc.rights.coar.fl_str_mv |
http://purl.org/coar/access_right/c_14cb |
dc.rights.accessrights.spa.fl_str_mv |
info:eu-repo/semantics/closedAccess |
eu_rights_str_mv |
closedAccess |
rights_invalid_str_mv |
http://purl.org/coar/access_right/c_14cb |
dc.format.extent.none.fl_str_mv |
9 páginas |
dc.format.mimetype.spa.fl_str_mv |
application/pdf |
dc.publisher.place.spa.fl_str_mv |
Cartagena de Indias |
dc.publisher.sede.spa.fl_str_mv |
Campus Tecnológico |
dc.publisher.discipline.spa.fl_str_mv |
Maestría en Ingeniería |
dc.source.spa.fl_str_mv |
IEEE Latin America Transactions |
institution |
Universidad Tecnológica de Bolívar |
bitstream.url.fl_str_mv |
https://repositorio.utb.edu.co/bitstream/20.500.12585/12570/2/license.txt |
bitstream.checksum.fl_str_mv |
e20ad307a1c5f3f25af9304a7a7c86b6 |
bitstream.checksumAlgorithm.fl_str_mv |
MD5 |
repository.name.fl_str_mv |
Repositorio Institucional UTB |
repository.mail.fl_str_mv |
repositorioutb@utb.edu.co |
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1814021581203046400 |
spelling |
Cuadrado, Juan73b693c6-9993-4025-9268-0f1bbe13b105Martinez, Elizabeth4ebda059-55c6-4e72-8ce5-81181da731b4Puertas, Edwin5a1b1566-e112-43dc-8ac7-310ea9af8f05Martinez-Santos, Juan Carlos5c958644-c78d-401d-8ba9-bbd39fe773182023-11-28T20:28:05Z2023-11-28T20:28:05Z2023-11-242023-11-27Cuadrado, J., Ayala, E. J. M., Puertas, E., & Santos, J. C. M. (2023). Long-Term Effects of Degradation on Photovoltaic System Return on Investment (Vol. 21, Número 12). IEEE Latin America Transactions.https://hdl.handle.net/20.500.12585/1257010.1109/TLA.2023.10305232Universidad Tecnológica de BolívarRepositorio Universidad Tecnológica de BolívarThe adoption of photovoltaic (PV) systems has increased significantly in recent years, driven by the demand for off-grid and on-grid residential and commercial applications. However, the high initial investment required for PV installations has limited their widespread adoption. Governments and marketing enterprises have implemented different strategies to promote PV systems to overcome this barrier, focusing on the return on investment (ROI) concept. However, the conventional approach uses limited economic factors to calculate the ROI. It fails to consider the impact of external factors, such as system degradation, which can vary between systems. To address this issue, we propose a new methodology to estimate the ROI of a photovoltaic system with greater accuracy. Our approach incorporates system-predicted degradation, calculated using historical meteorological data and prediction techniques. We applied this methodology to a photovoltaic system installed at the Universidad Tecnologica de Bolivar (UTB) in Cartagena and evaluated it against five different approaches. The results show that our proposed method offers a more accurate and reliable estimation of the ROI of a photovoltaic system, considering a broader range of factors. Overall, our work contributes to advancing the understanding of photovoltaic system ROI calculation and promotes using sustainable energy sources. By providing a more precise estimation of the ROI of a photovoltaic system, our methodology can help potential investors make more informed decisions and promote the adoption of clean energy sources.9 páginasapplication/pdfengIEEE Latin America TransactionsLong-Term Effects of Degradation on Photovoltaic System Return on Investmentinfo:eu-repo/semantics/articlehttp://purl.org/coar/resource_type/c_6501http://purl.org/coar/version/c_be7fb7dd8ff6fe43http://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_2df8fbb1Photovoltaic SystemPerformance RatioDegradation ModelReturn on InvestmentLEMBinfo:eu-repo/semantics/closedAccesshttp://purl.org/coar/access_right/c_14cbCartagena de IndiasCampus TecnológicoMaestría en IngenieríaPúblico generalF. 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Carbajales-Dale, “Assessing the photovoltaic technology landscape: efficiency and energy return on investment (eroi),” Energy & Environmental Science, vol. 11, no. 3, pp. 603–608, 2018.O. Ozcan and F. Ersoz, “Effects of financial conditions on photovoltaic system design and investment process: An application on different scenarios,” in 2021 3rd International Congress on Human-Computer Interaction, Optimization and Robotic Applications (HORA), pp. 1–7, IEEE, 2021.M. Ertu˘grul, M. H. Sald, et al., “Return on investment analysis of unlicensed solar energy projects in turkey,” -, 2020.T. J. Formica, H. A. Khan, and M. G. Pecht, “The effect of inverter failures on the return on investment of solar photovoltaic systems,” IEEE Access, vol. 5, pp. 21336–21343, 2017.C. A. Hall, J. G. Lambert, and S. B. Balogh, “Eroi of different fuels and the implications for society,” Energy policy, vol. 64, pp. 141–152,D. Seo and J. L. 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Dhimish, “Performance ratio and degradation rate analysis of 10-year field exposed residential photovoltaic installations in the uk and ireland,” Clean Technologies, vol. 2, no. 2, p. 12, 2020.http://purl.org/coar/resource_type/c_2df8fbb1LICENSElicense.txtlicense.txttext/plain; charset=utf-83182https://repositorio.utb.edu.co/bitstream/20.500.12585/12570/2/license.txte20ad307a1c5f3f25af9304a7a7c86b6MD5220.500.12585/12570oai:repositorio.utb.edu.co:20.500.12585/125702023-11-28 15:30:40.307Repositorio Institucional UTBrepositorioutb@utb.edu.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 |