FSPV- grid integrated system for efficient electrification of industrial subsections with grid price sensitivity analysis

This article conducts an economic and technical performance of a floating solar photovoltaic (FSPV)-grid integrated system proposed as a generating option for the Bhilai Steel Plant (BSP) in Chhattisgarh state, India. The plant has two reservoirs and it has the potential to generate electricity using an FSPV system. The sensitivity analysis was performed on the increase in grid prices keeping the future in mind. The study sought to investigate the impact of rising grid prices on parameters such as required FSPV rating, as well as grid purchase and sell back, net present cost (NPC) and cost of energy (COE) in $/kWhr. The authors also calculated the area required for the entire setup of the FSPV system, including estimates of water savings. The system was simulated in software designed specifically for the renewable energy domain, and the analysis revealed that the NPC, COE, and FSPV rating are all minimum in the case of nominal grid pricing, but all the parameters increase as grid pricing increases because the production proportion changes with rise in grid prices. The proposed FSPV-grid integrated system ensures BSP's affordable power reliability and price continuity.