Financial Analysis of a Grid-connected Photovoltaic System in South Florida

TL;DR

This paper evaluates the performance and financial viability of a 14.8 kW grid-connected photovoltaic system at Florida Atlantic University, analyzing local weather, system design, and energy output since 2014.

Contribution

It provides a detailed case study of a dual-array PV system with local weather data and simulation-based performance and financial analysis.

Findings

System has operated since 2014 with optimized design.

Simulation results show expected energy production.

Financial analysis indicates economic viability.

Abstract

In this paper the performance and financial analysis of a grid-connected photovoltaic system installed at Florida Atlantic University (FAU) is evaluated. The power plant has the capacity of 14.8 kW and has been under operation since August 2014. This solar PV system is composed of two 7.4 kW sub-arrays, one fixed and one with single axis tracking. First, an overview of the system followed by local weather characteristics in Boca Raton, Florida is presented. In addition, monthly averaged daily solar radiation in Boca Raton as well as system AC are calculated utilizing the PVwatts simulation calculator. Inputs such as module and inverter specifications are applied to the System Advisor Model (SAM) to design and optimize the system. Finally, the estimated local load demand as well as simulation results are extracted and analyzed.