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PV/T Feasibility and Cost Assessment

  • Ali H. A. Al-Waeli
  • Hussein A. Kazem
  • Miqdam Tariq Chaichan
  • Kamaruzzaman Sopian
Chapter

Abstract

Discussion of economic aspects of any technology is critical to establish its utility and market potential. Given that PV/T is used as an energy source, it must be cost-competitive with conventional renewable energy and fossil fuel sources. For research and development to understand and evaluate the economic aspect of PV/T systems, it is recommended to study factors such as life cycle cost analysis (LCCA). This chapter presents the LCCA and shows how to use the method in research, by calculating parameters such as life cycle cost (LCC), cost of energy (COE), etc., as provided in other works. The levelized cost of heat (LCOH) is introduced to view the economics of the thermal aspect, given that PV/T generates heat as well. Moreover, the levelized cost of energy (LCOE) is explained in terms of concept and method of calculation and briefly reviewed in different research works. To assess the environmental impacts which can be linked to economic aspects in some cases, the life cycle assessment (LCA) is introduced. Finally, the payback period (PBP) is explained in concept and briefly discussed in terms of its utility and disadvantages.

Keywords

Life cycle cost (LCC) Cost of energy (CoE) Levelized cost of heat (LCOH) Life cycle assessment (LCA) Payback period (PBP) 

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Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  • Ali H. A. Al-Waeli
    • 1
  • Hussein A. Kazem
    • 2
  • Miqdam Tariq Chaichan
    • 3
  • Kamaruzzaman Sopian
    • 1
  1. 1.Solar Energy Research InstituteUniversiti Kebangsaan MalaysiaBangiMalaysia
  2. 2.Faculty of EngineeringSohar UniversitySoharOman
  3. 3.Energy and Renewable Energies Technology CenterUniversity of TechnologyBaghdadIraq

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