Comparative analysis of the economic feasibility of photovoltaic and wind systems for microgeneration

Abstract

The present work presents a comparative study of economic feasibility analysis and decision criteria for choosing distributed microgeneration systems of electric energy between photovoltaic systems and wind turbines, based on the methods of Net Present Value (NPV), Internal Rate of Return (IRR), and Equivalent Annual Cost (CAE). It is known that today the financial amount of investment in distributed microgeneration systems is considered to be of great magnitude and if it is not well evaluated, the project may have compromised capital return rates. Therefore, the selection criteria in the investment opportunities within the electric power generation options between the two mentioned systems are shown. Several economic scenarios are studied to determine which option is more viable between photovoltaic generation and wind turbines for a power of up to 5MW, which characterizes distributed microgeneration, according to ANEEL Normative Resolution 687/2015.