Optimization of Solar Photovoltaic Plant and Economic Analysis

This article presents optimization of large-scale solar photovoltaic plants with economic analysis. The optimization includes the design of the plants, distribution of power conditioning units, and several other factors which affect the performance of the plants throughout their working life. Component arrangements are done to maximize power output and minimize the cost of production under-distributed and the central inverter mode of operation. Several optimization techniques have been analyzed, and a detailed comparison is presented for levelized cost of production and the economics of the plants. Economic analysis of the plants has been investigated to determine the net present value and internal rate of return using the Monte Carlo method.