A scenario analysis of solar photovoltaic grid parity in the Maldives: The case of Malahini resort

Tae Yong Jung, Donghun Kim, Jongwoo Moon, Seo Kyung Lim

Research output: Contribution to journalArticle

2 Citations (Scopus)

Abstract

The Maldives, one of the Small Island Developing States (SIDS) with great solar potential, is keen to promote renewable energy systems to reduce its heavy reliance on imported diesel for power generation. However, adopting renewable energy systems is still burdensome for the Maldives not only because of its high initial costs and insufficient financial resources but also because of a lack of understanding about whether the deployment of a renewable system is economically feasible. Therefore, the concept of grid parity is explored as an important concept in this paper to examine the possible timeframe for reaching it. A distinctive feature of the paper is that the paper used actual cost and technical information to analyze the levelized cost of energy (LCOEs) of the independent renewable system in a remote island and examined its timeframe for reaching the grid parity condition. Based on economic and technical information from a project for replacing existing diesel generator to photovoltaic (PV) with energy storage system (ESS) in Kuda Bandos Island in the Maldives, the paper considers three different system configurations and evaluates which configuration could result in the most optimal off-grid energy systems in this remote island. With sensitivity analysis on various uncertainties, the paper shows the range of the levelized costs of energy and the periods required for reaching grid parity for deploying solar photovoltaics and ESSs in Kuda Bandos Island, Maldives. The result indicates that the photovoltaic system is an economically feasible option for the resort, and that grid parity can be reached within the project lifetime. However, the result shows that the use of advanced ESSs is still an expensive option and would not be economically reasonable.

Original languageEnglish
Article number4045
JournalSustainability (Switzerland)
Volume10
Issue number11
DOIs
Publication statusPublished - 2018 Nov 5

Fingerprint

Maldives
scenario
evolutionarily stable strategy
energy
Costs
cost
diesel
ESS
renewable energy
photovoltaic system
costs
Energy storage
Sensitivity analysis
Power generation
power generation
sensitivity analysis
Economics
scenario analysis
resource
economics

All Science Journal Classification (ASJC) codes

  • Geography, Planning and Development
  • Renewable Energy, Sustainability and the Environment
  • Management, Monitoring, Policy and Law

Cite this

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abstract = "The Maldives, one of the Small Island Developing States (SIDS) with great solar potential, is keen to promote renewable energy systems to reduce its heavy reliance on imported diesel for power generation. However, adopting renewable energy systems is still burdensome for the Maldives not only because of its high initial costs and insufficient financial resources but also because of a lack of understanding about whether the deployment of a renewable system is economically feasible. Therefore, the concept of grid parity is explored as an important concept in this paper to examine the possible timeframe for reaching it. A distinctive feature of the paper is that the paper used actual cost and technical information to analyze the levelized cost of energy (LCOEs) of the independent renewable system in a remote island and examined its timeframe for reaching the grid parity condition. Based on economic and technical information from a project for replacing existing diesel generator to photovoltaic (PV) with energy storage system (ESS) in Kuda Bandos Island in the Maldives, the paper considers three different system configurations and evaluates which configuration could result in the most optimal off-grid energy systems in this remote island. With sensitivity analysis on various uncertainties, the paper shows the range of the levelized costs of energy and the periods required for reaching grid parity for deploying solar photovoltaics and ESSs in Kuda Bandos Island, Maldives. The result indicates that the photovoltaic system is an economically feasible option for the resort, and that grid parity can be reached within the project lifetime. However, the result shows that the use of advanced ESSs is still an expensive option and would not be economically reasonable.",
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A scenario analysis of solar photovoltaic grid parity in the Maldives : The case of Malahini resort. / Jung, Tae Yong; Kim, Donghun; Moon, Jongwoo; Lim, Seo Kyung.

In: Sustainability (Switzerland), Vol. 10, No. 11, 4045, 05.11.2018.

Research output: Contribution to journalArticle

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