PAYBACK PERIODS OF THREE IDENTICAL SOLAR PHOTOVOLTAIC POWER PLANTS

Fuat LÜLE ¹ , TURHAN KOYUNCU² , Ali İhsan KAYA³

Payback periods of three (I, II and III) identical solar photovoltaic power plants (SPPs) have been determined in this paper. SPPs were installed in Adıyaman location, Turkey (Latitude: 37.45°, Longitude: 38.17° and Altitude: 672m) in 2017. Date of commencement of operation is November 27, 2017, the installed power capacity is 1.025 MW, and the installation cost is $1000000 of each SPP. The supply method for installation is 100% equity capital and the sales price of the electricity to the grid is 0.133$/kWh. The results of the work showed that the average annual electricity generation was 1696665kWh of each SPP. The internal electric consumption is 10770kWh. Thus, net electricity generation was 1685895kWh. The average payback period was 5.5 years for these SPPs.

Keywords
Solar PV Plant, Payback Period, Economic Analysis, Solar Photovoltaic Power Plant, Adıyaman,