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Economic feasibility of residential and commercial PV technology: The Chilean case

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  • Ramírez-Sagner, Gonzalo
  • Mata-Torres, Carlos
  • Pino, Alan
  • Escobar, Rodrigo A.

Abstract

This study presents an economic analysis of residential and commercial Photovoltaic (PV) systems in Chile. Continental Chile presents good solar resource and is also an interesting country for developing PV projects of all sizes (large-scale, commercial and residential). The analysis was performed on the two largest electric power systems, specifically on the 314 districts of 13 regions of Chile, taking into account the actual Chilean regulatory framework. Economic performance results of the residential and commercial PV systems were obtained and presented in geo referenced information systems (GIS) maps. The results show that almost all the country exhibits a great potential, obtaining in several locations an IRR higher than the reference value (5%/yr.) for both schemes (residential and commercial), highlighting that the central-north region reaches the highest IRR values. It was found that districts can be characterized by the electricity tariffs in clusters that increase the IRR linearly with the specific yield [kWh/kWp]. This study is of primordial importance for the development of renewable energies in the region, giving further understanding on the economic feasibility of the photovoltaic technology throughout the country.

Suggested Citation

  • Ramírez-Sagner, Gonzalo & Mata-Torres, Carlos & Pino, Alan & Escobar, Rodrigo A., 2017. "Economic feasibility of residential and commercial PV technology: The Chilean case," Renewable Energy, Elsevier, vol. 111(C), pages 332-343.
    • Handle: RePEc:eee:renene:v:111:y:2017:i:c:p:332-343
    DOI: 10.1016/j.renene.2017.04.011
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    Cited by:

    1. Bertolini, Marina & D'Alpaos, Chiara & Moretto, Michele, 2018. "Do Smart Grids boost investments in domestic PV plants? Evidence from the Italian electricity market," Energy, Elsevier, vol. 149(C), pages 890-902.
    2. Rômulo de Oliveira Azevêdo & Paulo Rotela Junior & Luiz Célio Souza Rocha & Gianfranco Chicco & Giancarlo Aquila & Rogério Santana Peruchi, 2020. "Identification and Analysis of Impact Factors on the Economic Feasibility of Photovoltaic Energy Investments," Sustainability, MDPI, vol. 12(17), pages 1-40, September.
    3. Ali, Hayder & Khan, Hassan Abbas, 2020. "Techno-economic evaluation of two 42 kWp polycrystalline-Si and CIS thin-film based PV rooftop systems in Pakistan," Renewable Energy, Elsevier, vol. 152(C), pages 347-357.
    4. Fuentes González, Fabián & Sauma, Enzo & van der Weijde, AdriaanHendrik, 2019. "The Scottish experience in community energy development: A starting point for Chile," Renewable and Sustainable Energy Reviews, Elsevier, vol. 113(C), pages 1-1.
    5. Hélio Henrique Cunha Pinheiro & Neilton Fidélis da Silva & David Alves Castelo Branco & Márcio Giannini Pereira, 2020. "Photovoltaic Solar Systems in Multi-Headquarter Institutions: A Technical Implementation in Northeastern Brazil," Energies, MDPI, vol. 13(10), pages 1-28, May.
    6. Osorio-Aravena, Juan Carlos & Aghahosseini, Arman & Bogdanov, Dmitrii & Caldera, Upeksha & Ghorbani, Narges & Mensah, Theophilus Nii Odai & Khalili, Siavash & Muñoz-Cerón, Emilio & Breyer, Christian, 2021. "The impact of renewable energy and sector coupling on the pathway towards a sustainable energy system in Chile," Renewable and Sustainable Energy Reviews, Elsevier, vol. 151(C).
    7. Samper, M. & Coria, G. & Facchini, M., 2021. "Grid parity analysis of distributed PV generation considering tariff policies in Argentina," Energy Policy, Elsevier, vol. 157(C).
    8. Langer, Jannis & Kwee, Zenlin & Zhou, Yilong & Isabella, Olindo & Ashqar, Ziad & Quist, Jaco & Praktiknjo, Aaron & Blok, Kornelis, 2023. "Geospatial analysis of Indonesia's bankable utility-scale solar PV potential using elements of project finance," Energy, Elsevier, vol. 283(C).
    9. Del Hoyo, Mirko & Rondanelli, Roberto & Escobar, Rodrigo, 2020. "Significant decrease of photovoltaic power production by aerosols. The case of Santiago de Chile," Renewable Energy, Elsevier, vol. 148(C), pages 1137-1149.
    10. Chang, Soowon & Cho, Junyoung & Heo, Jae & Kang, Junsuk & Kobashi, Takuro, 2022. "Energy infrastructure transitions with PV and EV combined systems using techno-economic analyses for decarbonization in cities," Applied Energy, Elsevier, vol. 319(C).
    11. Lazzeroni, Paolo & Moretti, Francesco & Stirano, Federico, 2020. "Economic potential of PV for Italian residential end-users," Energy, Elsevier, vol. 200(C).
    12. Wang, Rong & Hasanefendic, Sandra & Von Hauff, Elizabeth & Bossink, Bart, 2022. "The cost of photovoltaics: Re-evaluating grid parity for PV systems in China," Renewable Energy, Elsevier, vol. 194(C), pages 469-481.
    13. Karimi, Mohammad Sadjad & Fazelpour, Farivar & Rosen, Marc A. & Shams, Mehrzad, 2019. "Comparative study of solar-powered underfloor heating system performance in distinctive climates," Renewable Energy, Elsevier, vol. 130(C), pages 524-535.
    14. Xue, Liya & Liu, Junling & Lin, Xiaojing & Li, Mengyue & Kobashi, Takuro, 2024. "Assessing urban rooftop PV economics for regional deployment by integrating local socioeconomic, technological, and policy conditions," Applied Energy, Elsevier, vol. 353(PA).
    15. Lilies Setiartiti & Rahmat Adiprasetya Al-Hasibi, 2021. "Designing Institutional Models For Renewable Energy Project Sustainability," International Journal of Energy Economics and Policy, Econjournals, vol. 11(5), pages 147-156.
    16. 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.
    17. Adalberto Ospino-Castro & Carlos Robles-Algar n & Juan Tob n-Perez & Rafael Pe a-Gallardo & Melisa Acosta-coll, 2020. "Financing of Residential Rooftop Photovoltaic Projects Under a Net Metering Policy Framework: The Case of the Colombian Caribbean Region," International Journal of Energy Economics and Policy, Econjournals, vol. 10(6), pages 337-346.
    18. Vargas Gil, Gloria Milena & Bittencourt Aguiar Cunha, Rafael & Giuseppe Di Santo, Silvio & Machado Monaro, Renato & Fragoso Costa, Fabiano & Sguarezi Filho, Alfeu J., 2020. "Photovoltaic energy in South America: Current state and grid regulation for large-scale and distributed photovoltaic systems," Renewable Energy, Elsevier, vol. 162(C), pages 1307-1320.
    19. Xin-gang, Zhao & Yi-min, Xie, 2019. "The economic performance of industrial and commercial rooftop photovoltaic in China," Energy, Elsevier, vol. 187(C).
    20. Jiehui Yuan & Wenli Yuan & Juan Yuan & Zhihong Liu & Jia Liao & Xunmin Ou, 2023. "Policy Recommendations for Distributed Solar PV Aiming for a Carbon-Neutral Future," Sustainability, MDPI, vol. 15(4), pages 1-16, February.
    21. Meza, Carlos Germán & Zuluaga Rodríguez, Catalina & D'Aquino, Camila Agner & Amado, Nilton Bispo & Rodrigues, Alcantaro & Sauer, Ildo Luis, 2019. "Toward a 100% renewable island: A case study of Ometepe's energy mix," Renewable Energy, Elsevier, vol. 132(C), pages 628-648.
    22. Li, Yanxue & Gao, Weijun & Ruan, Yingjun, 2018. "Performance investigation of grid-connected residential PV-battery system focusing on enhancing self-consumption and peak shaving in Kyushu, Japan," Renewable Energy, Elsevier, vol. 127(C), pages 514-523.
    23. Bai, Bo & Wang, Yihan & Fang, Cong & Xiong, Siqin & Ma, Xiaoming, 2021. "Efficient deployment of solar photovoltaic stations in China: An economic and environmental perspective," Energy, Elsevier, vol. 221(C).

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