A Case Study on the Cost-effectiveness of Net Energy Metering of Residential Grid-Connected Photovoltaic in the Context of Bangladesh

Increasing electricity generation without harming the environment is the foremost concern in recent times. The use of solar energy in the perspective of Bangladesh is very much appreciated due to environmental reasons. If a solar plant is implemented, problems arise such as the costing of the panel with battery and wastage of energy during daytime due to excess generation compared to battery capacity. Net Energy Metering (NEM) with grid-connected PV can resolve these problems. The research in this paper focuses on using PVsyst to design a grid-connected home solar system that takes into account meteorological, technical, and loss aspects. The net energy exchange, as well as the cost-effectiveness of the implemented scheme, is determined by the Sustainable and Renewable Energy Development Authority (SREDA) net metering calculator after implementation. In the proposed case, it was found that the total investment of 22,545.63 USD will give a profit of 26,881.78 USD to the investor with a payback period of 6.85 years. The paper concludes that residential grid-connected solar is a nouveau concept within the setting of Bangladesh, which will help to tackle the excess demand for electricity with a good economic outcome.