Optimal Techno-Economic Modeling of Solar PV-Based Filling Stations: A Case Study in Bangladesh

The ever-growing global transportation sector, encompassing operations from the petroleum refineries to the retail fuel outlets and motor vehicles, significantly contributes to universal greenhouse gas emissions. This study using PVsyst modeling software aims for reducing carbon emissions at petroleum product retail outlets, thereby decreasing the overall carbon footprint of these operations. During this work, comprehensive data on the total energy output of filling stations was gathered, and the associated costs of implementing solar PV energy systems were evaluated. This work was centered around a specific filling station that is located in Dhaka, Bangladesh, serving as a case study for the detailed technical and economic evaluation of transitioning to solar PV-based energy as the primary power source. The solar PV project required an initial capital investment of 14,574,537.53 Bangladeshi Taka (BDT), with subsequent annual operational costs, adjusted for an inflation rate of 2.00%, estimated at 157,461.13 BDT. The system's annual excess energy production was recorded at 43.9 MWh, with an additional 229 MWh supplied to the national power grid. The Levelized Cost of Energy (LCOE) was calculated to be 3.323 BDT per kWh. Financial assessments of the project indicated a positive outlook with a calculated payback period of 5.3 years, a Net Present Value (NPV) of 55,603,424.79 BDT, and a return on investment (ROI) of 381.5%. This analysis also took into account the lifecycle grid emissions from Bangladesh, factoring in an annual system degradation rate of 1.0% over a projected lifespan of 20 years, resulting in emissions of 584 gCO<inf xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">2</inf>/kWh.