Techno-Economic Benefits of Grid-Connected Photovoltaic Systems

Energy resources that offer substantial environmental benefits while also producing minimal economic impact are highly valued. Photovoltaic (PV) energy is an infinite, non-polluting energy resource that can be economically utilized to meet energy requirements. The study examines the technical and economic viability of a grid-connected PV system. To explore the influence of photovoltaic benefits on grid voltage support, a seven-bus power system model is created and analyzed using simulation software. Furthermore, the benefits of grid-connected solar PV systems in transmission and distribution, as well as line extension in rural areas of developing countries and consumers, are highlighted using literature reviews. The study concludes with an assessment of the technical and economic feasibility of the examined PV system profitability depending on the system site location, household load size, consumer energy cost, and existing PV subsidies.