Techno‐Economic and Life Cycle Assessment of a Nanofluid‐Based Concentrated PV/T–TEG Hybrid System With Spectral Filtering

ABSTRACT This study proposes a novel cascade nanofluid‐based concentrated photovoltaic/thermal–thermoelectric generator (PV/T–TEG) combined system (CS 4 ) to address the critical need for highly efficient and sustainable energy solutions. The system integrates photovoltaic and thermoelectric generator units with an advanced cooling system using nanofluid as coolants and optical filters to enhance solar energy conversion efficiency. The performance of the proposed configuration is investigated using a comprehensive mathematical simulation and is compared to conventional systems under various solar concentration ratios. The results outlined that the proposed CS 4 system achieves a thermal efficiency of approximately 81.1% and an overall exergy efficiency of 18.75%. In terms of economic reliability, the system demonstrates an energy return on investment of 5.09:1 and a levelized cost of energy of $0.017/kWh, with annual household savings of ~$439.32. Environmentally, the system mitigates emissions amounting to 7.8 tons. CO₂/year, equivalent to the emission of 1.52 cars, or the saving of 3.87 cubic meters of gasoline. Overall, the proposed CS 4 hybrid system provides a highly viable and sustainable solution for solar power generation, offering superior performance metrics, substantial economic returns, and significant CO₂ emissions reductions. This innovative hybrid system offers a promising approach for advancing solar energy applications and a reliable solution for the energy transition process.