Modelling for a brighter future : Net present value optimization of solar plants

• Main Authors: Jadari, Salam, Andrée, Anton, Sjöstrand, Axel
• Format: Bachelor Thesis
• Language: English
• Published: Uppsala universitet, Institutionen för teknikvetenskaper 2017
• Subjects: solar panel optimization; solar panel; solar panel net present value; solar net present value; renewable energy optimization; Engineering and Technology; Teknik och teknologier; Sea ice
• Online Access: http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-324690

Climate change has already had major impacts on our planet. Loss of sea ice, accelerated sea level rise and longer, more intense heat waves, are a few of these. Many scientists believe that a continued climate change will have even more severe impact on our planet. To tackle the climate change, a fast transition towards renewable energy sources is necessary. One of the most promising sources of renewable energy is solar energy. To achieve the goal of making the world more reliable on solar energy, various actors try to improve the technology and the financial basis regarding this way of extracting energy. In this transition, calculations have to be as accurate as possible, in order to benefit from them when installing solar panels. This bachelor thesis intends to create an investment model for solar plants and an optimization of the plant’s size based on net present value. The model is built in Microsoft Excel, and factors such as electricity prices, electricity production/consumption and several others are taken into account. Based on the comparison with a case study and the calculations made by the model, the results suggest a reliable model. On behalf of Herrljunga Elektriska AB, the model is created to help them generate reliable and fast investment calculations, which will hopefully bring value to their business.