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An Evaluation of Economic Potential Solar Photovoltaic Farm in Thailand: Case study of Polycrystalline Silicon and Amorphous Silicon Thin Film

Author

Listed:
  • Chaiporn Suphahitanukool

    (Rattanakosin College for Sustainable Energy and Environment (RCSEE), Rajamangala University of Technology Rattanakosin, Thailand,)

  • Issaree Hunsacharoonroj

    (Rattanakosin College for Sustainable Energy and Environment (RCSEE), Rajamangala University of Technology Rattanakosin, Thailand,)

  • Parnuwat Usapein

    (Rattanakosin College for Sustainable Energy and Environment (RCSEE), Rajamangala University of Technology Rattanakosin, Thailand)

  • Joseph Khedari

    (Faculty of Technology and Innovation, Bangkokthonburi University, Thailand)

  • Jompob Waewsak

    (Research Center in Energy and Environment, Thaksin University, Thailand,)

  • Jongjit Hirunalbh

    (Faculty of Technology and Innovation, Bangkokthonburi University, Thailand.)

Abstract

Solar energy in Thailand plays an important role to achieve the target of the Alternative Energy Development Plan (AEDP). Enormous investments from investors are expected to occur for support AEDP. Therefore, the objective of this study was to evaluate and compare the economic potential of solar PV farm between polycrystalline silicon (PCSS) and amorphous silicon thin film (ASTF) type. Questionnaires submitted to private solar PV farm for collecting data. As a result, four main investment costs of PSS are identified: (1) photovoltaic module; (2) connection system; (3) inverter, and (4) engineering construction, distributed as 58.09%, 19.66%, 12.96%, and 4.47%, respectively. The financial analysis found that Payback period (PB), Internal Rate of Return (IRR), and Solar Plant capital of ASTF were less than PCSS; however, it returns low income along 25 years than PCSS. It could be suggested that the investment on PCSS is worth than ASTF.

Suggested Citation

  • Chaiporn Suphahitanukool & Issaree Hunsacharoonroj & Parnuwat Usapein & Joseph Khedari & Jompob Waewsak & Jongjit Hirunalbh, 2018. "An Evaluation of Economic Potential Solar Photovoltaic Farm in Thailand: Case study of Polycrystalline Silicon and Amorphous Silicon Thin Film," International Journal of Energy Economics and Policy, Econjournals, vol. 8(4), pages 33-41.
    • Handle: RePEc:eco:journ2:2018-04-5
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    References listed on IDEAS

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    1. Shukla, Akash Kumar & Sudhakar, K. & Baredar, Prashant & Mamat, Rizalman, 2018. "Solar PV and BIPV system: Barrier, challenges and policy recommendation in India," Renewable and Sustainable Energy Reviews, Elsevier, vol. 82(P3), pages 3314-3322.
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    Cited by:

    1. Cromratie Clemons, Sáde K. & Salloum, Coleman R. & Herdegen, Kyle G. & Kamens, Richard M. & Gheewala, Shabbir H., 2021. "Life cycle assessment of a floating photovoltaic system and feasibility for application in Thailand," Renewable Energy, Elsevier, vol. 168(C), pages 448-462.
    2. Viput Ongsakul & Salil K. Sen, 2019. "Low Carbon Energy Symbiosis for Sustainability: Review of Shared Value-based Policy Metabolism to Enhance the Implementability of the Sustainable Development Goals in Asia," International Journal of Energy Economics and Policy, Econjournals, vol. 9(2), pages 24-30.
    3. Shahid Ali & Qingyou Yan & Muhammad Sajjad Hussain & Muhammad Irfan & Munir Ahmad & Asif Razzaq & Vishal Dagar & Cem Işık, 2021. "Evaluating Green Technology Strategies for the Sustainable Development of Solar Power Projects: Evidence from Pakistan," Sustainability, MDPI, vol. 13(23), pages 1-29, November.

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    More about this item

    Keywords

    Economic potential; Solar PV farm; Investment; Financial economic.;
    All these keywords.

    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • G0 - Financial Economics - - General
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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