International Journal of Science, Engineering and TechnologyCost-Benefit Analysis of Solar Power Implementation in off-Grid Regions/span>
Authors- Assistant Manager Asadullah Muhammad Hossain Saad
Abstract-The purpose of this study is to investigate the economic viability and social impact of transitioning to renewable energy sources. This will be accomplished by conducting a cost-benefit analysis of the building of solar power systems in places that are not connected to the mainstream power grid. More specifically, the consequences of making the conversion to solar power will be the primary focus of the study. The research takes into account both the initial investment costs (panels, batteries, inverters, installation) and the ongoing expenses (maintenance, replacement) that are linked with the consumption of solar electricity. These costs are taken into consideration. The benefits that have been examined include increased access to energy, decreased reliance on fossil fuels, the creation of jobs, improvements in education and healthcare, and enhanced chances for economic development. These benefits have been analyzed. Additionally, an analysis of the advantages has been carried out. The primary focus of this investigation is on the unique difficulties and components that are associated with areas that are not connected to the centralized power system. The remoteness of the place, the community’s involvement, and the system’s scalability are some of the characteristics that contribute to what makes this situation unique. The goal of this cost-benefit analysis (CBA) is to give decision-makers critical insights into the viability and overall worth of solar power projects in locations that are not provided with grid power. This is accomplished by assessing and contrasting the costs and advantages of the project. In the end, this will help the development of sustainable behaviors as well as the production of policy decisions that are informed by relevant information.
DOI: /10.61463/ijset.vol.12.issue5.274
