Economic analysis of PV panel with and without cooling

• Main Author: Ho, Shao Yang
• Other Authors: Ashish Saxena
• Format: Final Year Project
• Language: English
• Published: 2018
• Subjects: DRNTU::Engineering::Mechanical engineering
• Online Access: http://hdl.handle.net/10356/75755
• Institution: Nanyang Technological University

The performance of a PV panel is dependent on the panel temperature. With long operations in a tropical climate like Singapore, the panel temperature is bound to increase. This results in higher electrical resistance within the system, leading to a drop in power output and thus lower efficiency. In order to maintain a uniform temperature for optimal output, a cooling system of some form has been recommended by researchers globally. In this study, an economic analysis will be performed on a continuous cooling method which utilizes water, to determine its viability for commercial usage within Singapore. A mathematical model is also designed to predict panel operating temperatures with and without cooling. This will thus allow the potential cost savings of this cooling method to be quantified, as well as the possible duration in which the payback period of the installation a PV panel can be reduced by.