Economic Analysis of a Utility Owned Small Scale Solar Photovoltaic System
As the need for more sustainable energy supply increases, electricity utilities are looking to renewable generation to complement large scale operational generational facilities. However, due to uncertainties in the ownership of distributed generation facilities on customer sites, utilities are hesitant to invest in small scale distributed generation facilities. This research seeks to economically analyze investment in renewable generation under varying renewable generation ownership. An economic analysis of utility ownership is performed to determine the return on investment of distributed generation. A Monte-Carlo simulation is used to investigate longitudinal production and price of renewable energy credits in relation to distributed generation. In addition, regulatory constraints, such as renewable portfolio standards, are considered within the model. A discussion of the results of the analysis and recommendations for engineering managers in the energy field is also provided.
S. M. Schmidt and S. Long, "Economic Analysis of a Utility Owned Small Scale Solar Photovoltaic System," Proceedings of the 35th International Annual Conference of the American Society for Engineering Management -- Entrepreneurship Engineering: Harnessing Innovation (2014, Virginia Beach, VA), American Society for Engineering Management (ASEM), Oct 2014.
35th International Annual Conference of the American Society for Engineering Management -- Entrepreneurship Engineering: Harnessing Innovation (2014: Oct. 15-18, Virginia Beach, VA)
Engineering Management and Systems Engineering
Keywords and Phrases
Economic Analysis; Renewable Energy; Distributed Power Generation; Facilities; Intelligent Systems; Investments; Monte Carlo Methods; Photovoltaic Cells; Solar Power Generation; Energy Fields; Engineering Managers; Renewable Energy Credits; Renewable Generation; Renewable Portfolio Standard; Solar Photovoltaic System; Sustainable Energy Supply
Article - Conference proceedings
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