ENERGY AND ECONOMIC FEASIBILITY OF A GRID-CONNECTED SOLAR PV SYSTEM IN ANTALYA, TURKEY

This paper examines the technical and financial viability of a grid-connected 1 MW photovoltaic (PV) power plant in the province of Antalya, Turkey. This study analyses the potential energy generation and cost-effectiveness of a proposed 1 MW PV power plant under several financial scenarios. Renewable energy project analysis software (RETScreen) is employed to evaluate the PV models. The economic indicators used are net present value ($203',609), internal rate of return (9.33%), and payback period (6.7 years). The simulation focuses on the power generation, profit, and expenses for the PV power station over a 30-year period. The analysis finds that the proposed PV system can produce 12,928, 12,051 and 11,233 MWh of electricity after 10, 20, and 30 years, respectively. In addition, the profit from the sale of this electricity is calculated to be 91.75% at the end of the first year and 79.39% at the end of 10 years. Furthermore, the reduction in CO7 emissions resulting from the use of the PV power station is calculated to be 629.6 kg/year. Based on the economic indicators, it can be concluded that the investment is profitable and feasible for Antalya.