Energy, exergy, environmental impact, and economic analyses of evacuated tube compound parabolic concentrator–powered solar thermal domestic water heating system

In the reported study, a dynamic analytical model is developed to propose the energy, exergy, environmental impact, and economic analyses of the water heating system at Jaipur (India) with an evacuated tube compound parabolic concentrator field of a total area of 81 m2. Consequently, the model is used to perform parametric studies to report the effect of operating and meteorological parameters on the productivity and performance of the system. Moreover, the system’s performance, environmental impact, and economic aspects have been investigated and compared under different meteorological conditions at four different Rajasthan (India) locations using TMY2 weather data files. Results clarified that Jodhpur receives the highest solar radiation intensity from these four locations. The model results were validated with the experimental data, and a good agreement has prevailed. Consequently, the results indicate the highest annual energy and exergy gain for Jodhpur with 79.72 MWh and 9.311 MWh, respectively, followed by Jaisalmer, Barmer, and Jaipur. The economic analysis results clarified that the simple payback period ranged from 4.5 to 4.75 years and the discounted payback period ranged from 6.6 to 7 years based on a 6% discount rate. At the same time, the levelized cost of heating for the given system is around 0.023 $/kWh which is very economical closest to that of CNG as a fuel which costs around 0.059 $/kWh. The internal rate of return is reported to be 16.76, 16.82, 16.77, and 16.75% for Barmer, Jodhpur, Jaipur, and Jaisalmer, respectively, and savings of 74.4, 78.1, 75.4, and 73.8 tonnes of CO2 emission to the environment.