Evaluation of the viability potential of four grid-connected solar photovoltaic power stations in Jiangsu Province, China

Grid-connected solar photovoltaic (GCSPV) power generation is conducive to the large-scale promotion of PV power generation. The aim of this study was to analyze the feasibility of the construction of 1-MW GCSPV power stations at four locations in Jiangsu Province, China. The economic, environmental, sensitivity, and risk analyses of the proposed systems were performed using the RETScreen clean energy management software. The GCSPV systems in Xuzhou are more economically viable than those in the other regions under consideration, whereas the systems in Nanjing are relatively less economically feasible. The GCSPV power stations in Xuzhou have the largest reduction in annual greenhouse gases emissions, because of producing the most electricity from the proposed system. Sensitivity analysis results on the net present value (NPV) show significant variations owing to the variations of the electricity export rate (EER) and initial costs (ICs) parameters. The NPV of the proposed system increases from $707,589 to $2,046,766 with an increasing EER, while the NPV of the system decreases with increasing ICs at the same EER. The risk analysis shows the largest influence on the NPV of the project is the change of the EER with positive correlation, while the least impact on the NPV is the debt term with positive correlation.