Technical and economic analysis of floating solar photovoltaic systems in coastal regions of India: a case study of Gujarat and Tamil Nadu

Population of India is growing exponentially thereby the necessity to enhance the power generation capacity is increasing. Considering the detrimental impacts of conventional approaches to generate electricity on the environment, it is imperative to minimize the dependency on fossil fuels and make a transition towards the use of renewable sources. Harnessing energy using floating solar photovoltaic modules is one of the promising renewable alternatives that can curtail carbon-dioxide emissions while meeting the required energy demand. In this study, governing parameters obtained from ECMWF ERA5 datasets are used to evaluate techno-economic feasibility of the floatovoltaic solar system at selected locations in Gujarat and Tamil Nadu. The suitability of these regions for installing floatovoltaic systems is assessed by analyzing crucial parameters such as panel temperature, solar power output, Capacity Factor (CF) and Levelized Cost of Energy (LCOE). Findings depict that a total of 991 and 880 TWh of electricity can be generated with a capacity factor of 26.9% and 23.8% at Gujarat and Tamil Nadu locations, respectively, with an installed capacity of 420 MW floatovoltaic system. Implementation of this alternative renewable source can curtail carbon emissions by more than 700 billion metric tons at each location, minimizing the detrimental impact on the environment. Economic analysis reveals LCOE value at the Gujarat and Tamil Nadu locations is 0.072 and 0.08 USD/kWh, respectively. Promoting the adoption and installation of floatovoltaics can help India to meet its goal of net-zero emissions by 2050 and be self-sufficient in terms of energy.