The economic analysis framework of potential development solar PV energy in Malaysia
Nowadays, the increasing of using renewable energy (RE) as an alternative for generating power has brought an attention to the most countries. Current power generations, in which can be called conventional ones, are using the fossil fuel such as coal, gas and oil in operating the power plant. Theref...
| Summary: | Nowadays, the increasing of using renewable energy (RE) as an alternative for generating power has brought an attention to the most countries. Current power generations, in which can be called conventional ones, are using the fossil fuel such as coal, gas and oil in operating the power plant. Therefore, indirectly it has faced the problem of uncertainty in fossil fuel price, resources availability, carbon emission and energy supply to remote areas. To date, Malaysia has spent more than billion in costing to acquire the fossil fuel to generate the power plant. In that reasons, the introduction of RE for energy supply is vital. Since the solar energy has become prominent in energy supply nowadays, the potential for large scale power plant is high, whereby, so far one of 8 MW solar PV power plant has been developed in Pajam. To develop a large scale solar energy is more expensive when compared to conventional ones. In economic analysis point of view, the proper framework that suite with Malaysia perspective such as environment, geographical, climate and suitable technique as a parameters needs to be carried determine first, so that the nearest prediction of return of investment can be anticipated. The analysis is presented by closer look at the plant performances and profits generated with consider the possible constraint factors that enforce by the environment factor and the technology. The case study is conducted to show the analysis assessment for large scale solar PV power plant up to 8 MW and the result will indicate the potential of solar being use as renewable energy to generate electricity and making profit. Meanwhile, the problems of supplying electricity to remote areas due to the geographical condition are studied by analyzing an economic analysis of hybrid energy supplies. An exploitation of solar energy with energy storage (battery) and diesel generator as hybrid energy sources to remote areas is proposed by come up an economic analysis of the hybrid energy system. The case studies at the remote islands (Perak and Jarak islands) are carried out. The outcome of the study case will show that with the correct sizing and design, money can be saving and dependency to diesel generator can be reduced |
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