A Novel and Holistic Framework for the Selection of Performance Indicators to Appraise Photovoltaic Systems.
Abstract
Most of the countries have targeted to increase the share of renewable energy projects to mitigate the adverse effects of climate change. Among all renewables, the photovoltaic (PV) technology has seen the most remarkable increase in the previous years with a global installed capacity of 1.63 TW in 2022. While expanding the installed capacity of PV technology is commendable, it is also essential to ensure that the PV systems are operating optimally. Such appraisal process not only warrants that the PV systems generation forecasts are met, but also ensures that the ratio of production to investment is as its peak. In this context, a novel and holistic framework for the selection of key performance indicators (KPIs) to assess PV systems is proposed in this study. The approach utilised in this research includes the identification and categorisation of KPIs. The latter were categorised into five groups namely: Intermittent Demand, Performance Assessment, IEC 61724 Standards KPIs, Financial Aspect and Environmental Benefits. In order to conduct a comprehensive evaluation of the financial viability and performance of PV systems, the selected list of KPIs can be computed and evaluated. This process will yield benchmark values that can be used to compare and assess the performance of PV systems to a given extent. In this optic a list of suggestions to guide stakeholders on the utilisation of the selected KPIs is also presented.
Keywords
Photovoltaics, Key performance indicators, Performance assessment