Techno-economic analysis of local manufacturing of perovskite photovoltaic modules for electricity generation in Ethiopia

Abstract

Perovskite solar cells can be potential contenders for future photovoltaic technologies due to their high efficiency, affordability, and simple manufacturing process. This study focuses on the techno-economic analysis of local manufacturing of perovskite solar panels in Ethiopia. The total manufacturing costs were found to be $0.29 /wp or $/69.6/m2. The Minimum Sustainable Price was calculated to be $0.38 /wp or $91.2/m2. Using a Monte Carlo simulation, the techno-economic metrics such as Net Present Value, Pay Back Period, Rate of Return, Profitability Index, and Levelized Cost of Energy were evaluated to determine project viability. The analysis showed a positive Net Present Value, a Payback Period of 7 to 8 years, an Internal Rate of Return of about 12 % with its average rate of return greater than the weighted average cost of capital, and a profitability index of 1.22, indicating project viability. The levelized cost of energy was estimated to be $0.019/kWh, which is lower than the selling price of electricity by the Ethiopian electric power authority, suggesting economic viability.