Life Cycle Cost Analysis Of Solar Panels

A life cycle assessment lca also called a life cycle analysis examines every aspect of a product s life from the gathering of raw materials right up to its disposal and eventual breakdown.

Life cycle cost analysis of solar panels.

Since 2010 nrel has benchmarked the full cost of pv systems including installation for residential commercial and utility projects. The results shows that the average module price is 0 56 wp and the capital investment cost is 1 184 wp. This work has grown to include cost models for solar plus storage systems. Even environmentally friendly technologies like solar panels have some impact on the environment and it s well worth considering how much energy goes into their manufacture.

Energy efficient approach with solar panel system requires initial investment in the range of 1 3 16. For a 20 years pv project life time the operation and maintenance cost forms 27 of the total lcc of the system. With proposed solar power panel 54 64 of total cost can be saved over span of 25 years. Meanwhile the investment to a solar pv plant will fall rapidly by 10 or more for years to come which means price of on grid pv power will down to 0 39 yuan kwh.

With minimum initial investment on solar power panel 4 3 of total cost can be saved over span of 30 years.