Economic Optimization of Grid-Connected Photovoltaic Solar Systems in Industrial Energy
Eustache Hakizimana, Honorine Umuhoza, Emmanuel Manishimwe, Kayibanda Venant
Abstract
This research investigates the economic optimization of grid-connected photovoltaic (PV) solar systems through a case study at SULFO Industry, specifically its soap manufacturing department. It addresses the urgent need for sustainable energy solutions in industrial settings to cut greenhouse gas emissions and achieve financial savings, focusing on high energy consumption issues. The study aims to optimize energy usage, financial efficiency, and environmental sustainability by integrating solar PV technology. The cost-benefit analysis of the PV system evaluates initial costs, payback period, return on investment (ROI), levelized cost of energy (LCOE), and net present value (NPV). Findings reveal a payback period of approximately 10 years with an anticipated total profit of around $768,767 over 30 years. The system generates 502.2 MWh annually, reducing energy costs to 51,726,600 RWF from 120,519,000 RWF, and decreases CO2 emissions by 6,555.1 tons. These results support existing research on the economic and environmental benefits of solar PV systems, validating their effectiveness in reducing costs and emissions. The study confirms that solar PV systems are a viable and practical option for enhancing energy sustainability in industrial operations.