Design, modeling and cost analysis of 8.79 MW solar photovoltaic power plant at National University of Sciences and Technology (NUST), Islamabad, Pakistan

Climate change, as a critical global concern, has fueled our efforts to address it through different strategies. In response to the critical worldwide issue of climate change, we suggested a Photovoltaic (PV) system at the National University of Sciences and Technology (NUST) in Islamabad, Pakistan (latitude: 33.724530 N, longitude: 73.046869, terrain elevation: 552 m). Islamabad is located in a region blessed with enormous solar resources, boasting a daily horizontal solar irradiance of 1503.45 kWh/m² and an average daily solar irradiance of 5.89 kWh/m², with an exceptional solar fraction of 98.99%. The ambient air temperature, averaging 23.21 °C, reaches its maximum in June and its minimum in December. Our research thoroughly evaluates the system's performance, accounting for various losses and utilizing modern PVsyst software. Over the course of 18 years, our PV system is expected to save 75,478.60 tons of CO₂, the equivalent of planting 348,754 teak trees. Furthermore, the cost of energy generation is an affordable 0.0141 US $/kWh, much lower than traditional rates, including the Sherif cost of 0.028$/kWh. Along with the performance research, we conducted a detailed cost analysis, projecting the starting cost and cash flow, and discovered that the plant would be in surplus within 12 years of installation. Our system is positioned to generate 11,270,771 kWh/year with a respectable performance ratio (PR) of 76.2% and a Capacity Utilization Factor (CUF) of 16%. Our findings not only highlight the potential of renewable energy but also provide important insights for future sustainable energy programs.