ECONOMETRIC AND ENVIRONMENTAL ANALYSIS OF RESIDENTIAL SOLAR PHOTOVOLTAIC SYSTEMS IN QATAR
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Qatar’s economy has grown drastically over the last decades. Extreme industrial expansion and economic growth, alongside the rapidly increasing population and rising living standards put continuously increasing pressures on domestic energy consumption leading to the soaring demand for electricity. The direct relation between domestic energy demand and the most important export products - oil and gas - has posed an interesting policy challenge. Seeking power generation from renewable solar energy resources to replace the use of conventional oil and gas resources has become feasible due to the increasing concerns of depleting oil and gas resources and environmental concerns. This research project discusses the opportunity and advantages of utilizing the renewable solar energy in power generation in the State of Qatar. The research aims to provide an economic and environmental analysis assessing the effectiveness of solar energy technologies (more specifically the solar Photovoltaic (PV) panels in residential buildings) in Qatar. Economically, the cost of utilizing the Photovoltaic module is assessed by calculating the system equivalent annual savings and economical net present value (NPV), taking into consideration the initial installation cost in addition to the annual operation and maintenance cost. Moreover, a sensitivity analysis using Monte Carlo simulation is presented for different discount and tariff rates as well as different system installation and Operations & Maintenance costs. Environmentally, the corresponding reduction in the CO2 emissions at the base station and its equivalent estimated cost saving is calculated and the NPV is recalculated considering the CO2 savings amount. This project proposes energy policy for Qatar supporting the utilization of solar Photovoltaic system in residential buildings, and estimating a suitable subsidy level to minimize the total system annual cost to the customers making it economically attractive.
- Engineering Management [39 items ]