Solar PV Plant in Pangan-An Island in Cebu, Philippines
The 28 kW Pangan-An Island (Cebu, Philippines) Solar PV project was constructed in 1997 for a cost of Php20,000,000 (approximately USD425 000). Assuming a very best case capacity factor of 40% and a best case economic life of 25 years, (total energy generated for 25 years would be 1,780,800 KWh), the selling price of electricity should be at least Php 11.23 (approx USD0.23), or almost 4 times of the current cost of electricity from a conventional non-diesel power plant, for the project to break-even (recover the investment). However, using a realistic capacity factor of 20% and a typical economic life of 20 years, (total energy generated for 20 years would be 981,120 KWh), the selling price of electricity from the Solar PV Plant should be atleast Php 20.4 (approx. USD0.43) or more than 6 times of the current cost of electricity from a conventional non-diesel power plant in the Philippines. In short, at least for this case, Solar PV-based power plant is expensive compared to other technology. Read more here….
1.0 USD = Php 47.39
Posted in Renewable Energy