PVSyst Enabled Real-Time Techno-Economic Assessment of a 1.5 MWp Grid-Tied Solar Photovoltaic System

Abstract

Pakistan is facing an escalating energy crisis that demands immediate and sustainable solutions. To address this challenge, this study evaluates the feasibility of solar energy production through a techno-economic analysis of a 1.5 MWp photovoltaic system. The analysis combines PVsyst simulations with real-time operational data collected between June 2023 and January 2024, enabling a direct comparison between predicted and actual system performance. The study examines energy yield, performance ratio, and financial metrics to assess economic viability. Results reveal that the average performance ratio was 82.7% in simulation but improved to 88.05% in real operation, reflecting a 5.35% gain in energy output. Financial analysis shows that the system achieves payback within 6.8 years, with a levelized cost of energy of 3.43 PKR/kWh and levelized savings of 13.23 PKR/kWh, amounting to cumulative lifetime savings of 898.2 millions PKR. The findings highlight the reliability and profitability of solar PV in Pakistan and demonstrate that integrating simulation and real-time data provides a more accurate basis for investment decisions. This study contributes a practical framework for bridging the gap between theoretical modeling and operational outcomes, offering actionable insights for accelerating the transition to economically viable green energy solutions.