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Semi-transparent photovoltaic (STPV) modules enable multifunctional deployment by transmitting part of the incident radiation, making them suitable for diverse applications such as agrivoltaics (APV) and building-integrated PV (BIPV). This study isolates the economic performance of STPV system themselves, focusing on the relationship between transparency, module costs, system capital expenditure (CAPEX), and Levelized Cost of Electricity (LCOE), independent of application-specific revenues. A detailed cost assessment shows that lower transparency levels improve cost-competitiveness, particularly in high-irradiation regions. However, when transparency exceeds 48 %, the LCOE surpasses market electricity prices, making the system financially unviable. The analysis highlights the importance of CAPEX, operation and maintenance (O&M) costs, and financing terms in shaping LCOE outcomes. Policy-driven mechanisms such as favorable loan conditions and accelerated depreciation significantly improve economic performance. Sensitivity analysis identifies annual electricity yield per kWp, CAPEX, and the Weighted Average Cost of Capital (WACC) as the most impactful parameters. Maximizing energy yield emerges as the most effective strategy to reduce LCOE, followed by minimizing capital and financing costs. These results underscore the need for technological innovation, cost optimization, and enabling policy frameworks to support the broader adoption of STPV-based PV systems.
Bessa et al. (Wed,) studied this question.