Techno-economic analysis of fixed versus sun-tracking solar panels

The potential output of photovoltaic (PV) panels is influenced by several factors, including the direction solar radiation from sun toward panel’s surface. maximum obtained when are vertical to sun's rays. In this study, a techno-economic analysis conducted examine whether an automatic one-axis tracker system economically feasible option for installing large-scale PV park in Nicosia district central part Cyprus. performance with installed capacity 781 kWp compared fixed flat structure having same and larger at 1034 kWp. Output generated three options simulated alternative simulation software (SolarGIS, PVSyst, PVGIS). Financial performed utilizing power output, accounting electricity feed-in tariff overall cost project. cash-flow model run scenarios defined different leverage ratios, no leverage. Considering technical parameters panel characteristics, such as degradation effect on efficiency radiation, we estimate tracking produces about 20%–30% more energy structure. We find both technologies viable options, however, performs better financially. LCOE all below highest acceptable level projects Cyprus which 103 EUR per MWh. 39 MWh 30% ratio up 79 85% sun-tracker ~20% lower than axis comparable size. Despite higher investment costs, 12% equity internal rate return, 9% shorter loan payback period complemented quantified benefits due avoided carbon emissions. Accounting makes over system, resulting 228,000 benefits. Overall, present value net solar-tracker amounts 1.39 mil. high irradiation Cyprus, footprint represents only 6% generating thermal plants. When these accounted sum NPV social will turn out be total