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Economic Analysis of a Grid Connected PV Systems: A Case Study in Khulna

This paper presents a detailed design of an on-grid PV system that meets the electrical needs of a typical domestic building in the southern corner (i.e. Khulna) of Bangladesh. The system comprising of the photovoltaic array to capture solar energy, a power converter to change over between AC and DC, grid connection and lead acid battery to store energy. The modelling is completed by assessing the required load, choosing and deciding the proper specifications of the components associated with the system. Different factors, for example, the geographic area, atmospheric condition, solar irradiance and load consumption upon which the whole work depends are all considered.  The cost optimization of the system is performed as per the system’s net present cost, cost of energy, operating expense and initial capital. Additionally, an efficient algorithm to manage the system energy along with power flow is proposed. The techno-economic analysis of the proposed system is performed by using HOMER simulation software. Simulated results indicate that the proposed model meet the load demand and show tasteful execution.