| In the coming years,demand for electrical energy will increase as the use of modern electronic devices has increased manifold in households,making the economic feasibility of conventional methods more uncertain.In regions like Pakistan,due to prolonged and hot summers,solar energy has emerged as an economically beneficial and environmentally friendly alternative to traditional energy sources,such as fossil fuels and coal.This thesis explores the causes behind the economic benefits of solar energy and the factors that contribute to its affordability compared to conventional energy sources.In Pakistan,in 2015,the net metering incentive has introduced by National Electric Power Regulatory Authority(NEPRA),which allows wind and photovoltaic(PV)distributed generation systems from 1kWp up to 1MWp to sell surplus units of electricity to the grid and net them off against the consumed units from the grid.The primary purpose of this research is to spread awareness and encourage people to use solar energy while simultaneously addressing the nation’s ongoing electricity shortage.A thorough economic analysis of Lahore Electric Supply Company(LESCO)Pakistan consumers has been conducted,having net metering systems of 5kW,10kW,and 15kW solar distributed generation(DG)capacities.HOMER Pro?,a micro grid optimization software,has simulated detailed economic analysis.The economic analysis gives results of the(NPC)net present cost,(LCOE)levelized cost of electricity,(IRR)internal rate of return,(ROI)return on investment and calculates the payback period of the system.Based on 5kW,10kW,and 15kW solar distributed power generation(DG)systems,results illustrate that the payback period and LCOE decrease as DG generation capacity increases.Overall,Net metering can help mitigate Pakistan’s energy crisis and promote green energy.More specifically,DG net metering systems can greatly help the hot and long summer regions like Lahore,Pakistan,to earn a significant profit for the consumers. |
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