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Comparison of large scale solar PV (photovoltaic) and nuclear power plant investments in an emerging market

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  • Karaveli, Abdullah Bugrahan
  • Soytas, Ugur
  • Akinoglu, Bulent G.

Abstract

We examine and compare economic feasibilities and environmental effects of two energy investments options in Turkey: a NE-PP (nuclear power plant) in Mersin province on the Mediterranean coast and a large scale photovoltaic solar energy power plant (PV-PP) to be built in a governmentally reserved land area in mid-south Anatolia, namely Karapinar Energy Specialized Industrial Zone (Karapinar-ESIZ). Total installed power of both plants is taken to be 4800 MW, which is the contracted value for the four units of NE-PP. In terms of investments and energy outputs, both options have their respective advantages and disadvantages over the other. While PV-PP is cheaper without land cost, NE-PP produces quite more electricity throughout its lifetime. Applying a tool to calculate the emission factor for an electricity system (taken from UNFCCC), although NE-PP has more cumulative CO2 emission reduction potential than PV-PP, PV-PP seems slightly more advantageous in terms of CO2 reduction per unit of produced electricity. PV-PP needs more land area than NE-PP; however, it requires considerably less time for commissioning and decommissioning. The outcomes of the study notably reveal that the NE-PP has a payback only if inflation rate is taken into consideration in the unit electricity price, while PV-PP pays back with and without inflation rate.

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  • Karaveli, Abdullah Bugrahan & Soytas, Ugur & Akinoglu, Bulent G., 2015. "Comparison of large scale solar PV (photovoltaic) and nuclear power plant investments in an emerging market," Energy, Elsevier, vol. 84(C), pages 656-665.
    • Handle: RePEc:eee:energy:v:84:y:2015:i:c:p:656-665
    DOI: 10.1016/j.energy.2015.03.025
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    9. Kulat, Muhammed Imran & Tosun, Kursad & Karaveli, Abdullah Bugrahan & Yucel, Ismail & Akinoglu, Bulent Gultekin, 2023. "A sound potential against energy dependency and climate change challenges: Floating photovoltaics on water reservoirs of Turkey," Renewable Energy, Elsevier, vol. 206(C), pages 694-709.
    10. Diego Oliva & Ahmed A. Ewees & Mohamed Abd El Aziz & Aboul Ella Hassanien & Marco Peréz-Cisneros, 2017. "A Chaotic Improved Artificial Bee Colony for Parameter Estimation of Photovoltaic Cells," Energies, MDPI, vol. 10(7), pages 1-19, June.
    11. Junedi, M.M. & Ludin, N.A. & Hamid, N.H. & Kathleen, P.R. & Hasila, J. & Ahmad Affandi, N.A., 2022. "Environmental and economic performance assessment of integrated conventional solar photovoltaic and agrophotovoltaic systems," Renewable and Sustainable Energy Reviews, Elsevier, vol. 168(C).
    12. Jacqueline CK Lam & Victor OK Li & David M. Reiner & Yang Han & Shan Shan Wang, 2018. "Trust in Government and Effective Nuclear Safety Governance in Great Britain," Working Papers EPRG 1811, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    13. Espinoza, R. & Muñoz-Cerón, E. & Aguilera, J. & de la Casa, J., 2019. "Feasibility evaluation of residential photovoltaic self-consumption projects in Peru," Renewable Energy, Elsevier, vol. 136(C), pages 414-427.
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