Abstract:
Pakistan is an unfortunate victim of a colossal energy predicament, facing a concurrent dilemma of soaring prices of fossil fuels. It is becoming increasingly difficult for the country to meet the growing demand of electricity. Taking Bahria University Islamabad as a case, the current study aimed to make design feasibility, calculate carbon footprint from electricity consumption by grid electricity and generators, levelized cost of electricity, cost-benefit analysis of installation of solar photovoltaic system and introducing the concept of net metering. The study reveals that annual carbon footprints of the building from grid electricity are 296131.67 (kgCO2 e), 57640 (kgCO2 e) of carbon footprints are added by the generators used to provide electricity annually; whereas the solar panels have zero carbon emissions. The Net Present Value of solar photovoltaic (PV) system installation is Rs.28,478,834 which will result in a positive cash flow and internal rate of return (IRR) is 26.9%, which is greater than investment in bank saving for which the discount rate is considered at 6.5%. The Cost Payback Time for the investment, only 4.4 years, is very cost effective. The levelized cost of electricity is 24.7 Rs/kWh that is fixed solar electrical cost that remains the same throughout the lifetime of the solar plant. The proposed mix energy system contains 59% of fossil fuel energy, 11% of solar energy and 30% of generator. Moreover, the concept of net metering is proven to be an influential parameter to encourage the use of solar PV system. Categorically, all of the acquired results and present growing energy demand calls for investment in solar energy.
