Cost-effectiveness Analysis for Solar Energy Harvesting Field with PV Panels at Optimized Tilt Angles under Year-Round Weather Cycles

This study introduces the Sunray-Energy Algorithm (SEA), an innovative tool designed to estimate the maximum solar energy received by photovoltaic (PV) solar panels. Evaluating optimal tilt angles under year-round cloud cover, SEA yields annual energy of 2206.36, 2371.58, 2371.89, and 2407.40 for one-time, twice/year, quarterly, and monthly PV tilt angle adjustments. The application of SEA extends to a comprehensive cost analysis for The University of Arizona Tech Park's Solar Zone in Tucson, AZ, USA. Predicted annual energy harvests range from 39.966 to 43.607 GWh, demonstrating SEA's capacity estimation. The application of SEA extends to a comprehensive cost analysis of PV Solar Panel Installation, emphasizing a case study within the Solar Zone at The University of Arizona Tech Park. The study assesses the solar field's theoretical solar energy harvest (AEP) for a 37.3-acre area, considering various tilt adjustment frequencies. SEA predicts annual energy harvests of 39.966 GWh, 42.958 GWh, 42.964 GWh, and 43.607 GWh for one-time, twice/year, quarterly, and monthly adjustments, respectively. The algorithm demonstrates proficiency in predicting potential plant capacity, estimating capacities of 15.68 MW, 16.85 MW, 16.85 MW, and 17.11 MW for the above-mentioned adjustments, respectively. Establishing a 6MW plant capacity aligned with the predicted maximum theoretical solar energy harvest, the study delves into the impact of degradation rates on Annual Energy Production (AEP). Over a 25-year lifespan, the plant is anticipated to produce 90% of its initial electricity, emphasizing long-term sustainability considerations. The Levelized Cost of Energy (LCoE) for the 6MW PV solar field is calculated as $44.05/MWh, $37.35/MWh, and $33.08/MWh for lifespans of 20, 25, and 30 years, respectively, aligning with industry benchmarks. The study highlights the significant influence of orientation and tilt angle on solar energy reception and LCoE. An in-depth exploration of Operations and Maintenance (O&M) costs highlights their significant influence on LCoE. With variations in O&M costs from $13 to $25 per kilowatt-DC per year, the study emphasizes the importance of strategic decision-making in optimizing revenue outcomes. The solar farm's impact on residential energy needs is assessed, indicating its potential to power approximately 1577 homes in the first year and 1372 homes after 20 years. The 6MW solar plant's economic viability is supported by a short payback period of 6.78 to 7.63 years. Combining SEA with economic assessments, this research provides a comprehensive understanding of solar energy technologies.