Feasibility Study And Economic Analysis Of Photovoltaic Systems For Technical And Vocational Education And Training(Tvet) Institutions In The Upper East Region Of Ghana. (A Case Study Of Bawku Technical Institute)

Abstract

This study delves into the feasibility of implementing a grid-tied solar photovoltaic (PV) system with battery energy storage for educational institutions, utilizing data collected through surveys for load estimation. Simulation and optimization of four distinct power generation scenarios, from grid-only to PV with battery storage were carried out using HOMER software. The findings revealed a compelling trend in favor of renewable energy integration resulting in cost-efficiency and environmental responsibility. Particularly, Scenario D (SD) emerged as the most promising option offering an optimal balance between economic viability and sustainable energy integration. This scenario significantly reduced grid dependence achieved a substantial renewable fraction and exhibited substantial cost-saving potential. Sensitivity analysis on specific economic inputs underscored the system's resilience to changing interest rates and inflation rates. The results of the sensitivity analysis show that the cost of electricity in a solar grid-connected system is expected to increase whenever the nominal discount rate rises (24.0%, 26.92%, 29.24%). Yet, because of the larger effect of discounting on future operating and maintenance costs, the total present cost might go down, illustrating the complex interplay between financial factors and the overall economics of renewable energy projects. The sensitivity analysis also made it abundantly evident that raising the projected inflation rate from 10.2% to 38.34% will probably lower energy costs while raising the overall present value of a solar grid-connected system. There could be a small drop in energy costs or stability in the next phase, which runs from 38.34% to 40.30%, along with a slight rise in the overall present cost. Overall, this research provides a robust blueprint for achieving reliable, cost-effective, and environmentally conscious energy solutions for educational institutions in Ghana, emphasizing the trans-formative potential of renewable energy integration for energy security and sustainability.