System Dynamics Modelling of Photovoltaic Power Generation Investment Decisions

Most countries aim at the generation of electric power through renewable sources. The most developed countries have made great investments pursuing this goal. Photovoltaic energy is one of the options available even to domestic users. However, costs, radiation conditions and average household energy consumption won't make it a good option everywhere. In this article a model based on system dynamics is proposed, studying the viability of the use of photovoltaic systems at home. In the article, the Colombian case is reviewed 90% of the energy in Colombia is generated through hydroelectric plants and due to its high climate dependence, in times of drought the country is forced to import energy. We figured the number of photovoltaic systems necessary to avoid this importation and calculated the investment required by Colombian households to fulfill their energy needs.