Abstract
Solar power has significant potential to reduce reliance on conventional energy sources in South Africa. A prefeasibility study for a communal solar water heating system (SWHS) is performed for an apartment building in the Cape Town area. Energetic-economic modeling of the system is performed by calculating the solar fraction and fundamental indicators of the financial analysis, such as internal rate of return (IRR), net present value (NPV), and benefit–cost ratio. Results indicate that a SWHS with a solar fraction of 32% and a benefit–cost ratio of 3.05 is realizable. Additionally, sensitivity analysis of financial results with respect to incentive rebate amount and electricity escalation rate is performed.
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Acknowledgments
The team wishes to acknowledge and thank the Sustainable Energy Society of Southern Africa (SESSA), Prof. Bernard Bourges, and Prof. Luiz Crespo for their contributions toward the successful finalization of this study. Additionally, the team would also like to extend its sincere appreciation to the EU’s Education, Audiovisual and Culture Executive Agency (EACEA), specifically the Erasmus Mundus program for making the project possible.
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Idowu, O., Ige, T., Lacouve, N., Mustafa, A.A., Rojas-Solorzano, L. (2018). Technical and Economical Prefeasibility Study of a Solar Water Heating (SWH) System in an Apartment Building in Cape Town. In: Aloui, F., Dincer, I. (eds) Exergy for A Better Environment and Improved Sustainability 2. Green Energy and Technology. Springer, Cham. https://doi.org/10.1007/978-3-319-62575-1_47
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DOI: https://doi.org/10.1007/978-3-319-62575-1_47
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