TECHNOECONOMIC FEASIBILITY ANALYSIS OF SOLAR THERMAL-SYSTEMS

This communication introduces the basic concepts for techno-economic f easibility assessment of various solar thermal systems in a dynamic an d market oriented economic environment. An analytical expression for c alculating the payback period is derived by assuming a non-linear incr ease in maintenance cost and incorporating subsidy and salvage values. Further, a method is evolved to ascertain the lifetime of the system for an optimal return on investment mode, incorporating capital inflat ion during the lifetime and a non-linear increase in maintenance cost. The results for the payback period have been used, along with the lif etime, to optimize the cost of the system.