Techno-Economic Analysis of Grid-Connected Bifacial and Monofacial Photovoltaic Power Plants: A Case Study

The electricity industry is a vital infrastructure for countries, and imbalance in this sector refers to discrepancies between supply and demand. One key solution to addressing this challenge involves deploying photovoltaic power plants. This study aims to design and assess the techno-economic performance of 3 MW grid-connected photovoltaic power plants in khomein County, Markazi Province, Iran, a region with high solar potential. Two systems are designed, one using bifacial and another using monofacial modules. The PVsyst software was employed to simulate energy production and system performance. The results indicate that the yearly energy injected into the grid for monofacial system is 5706.53 MWh, while for bifacial system is 6105.47 MWh. The payback period for monofacial and bifacial systems is 3.5 and 3.2 years, respectively. Additionally, the levelized cost of energy is 0.020 and 0.019, respectively. Energy production and net revenue of bifacial system are 7 % higher than those of monofacial system. The grid-connected bifacial system is a better option, offering greater energy potential, and a lower levelized cost of energy.