Scientists from King Fahd University of Petroleum and Minerals (KFUPM) in Saudi Arabia have conducted a techno-economic analysis to assess the country’s potential for floating PV (FPV) development and have found that the levelized cost of energy (LCOE) of floating PV project could be as low as $0.053/kWh.

The study assessed techno-economic feasibility at three distinct locations with varying climates and topographies: the King Fahad Dam, a gravity dam on Wadi Bisha, 35 km south of Bisha in the ‘Asir Region; the Wadi Namar Dam, located south of Riyadh; and the Hali Dam, situated 14 km east of Keyad in Mecca Province.

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The scientists reported that the King Fahd and Wadi Hali sites offer greater depth, likely improving cooling and boosting efficiency. Maximum solar irradiation at King Fahd reaches 2.38 MW/m²/year, compared to 2.19 MW/m²/year at Wadi Namar and 2.07 MW/m²/year at Wadi Hali.

“These site-specific characteristics will play a crucial role in the overall performance, feasibility, and sustainability of the FPV system, highlighting the importance of a comprehensive evaluation of both environmental and operational parameters in FPV deployment,” they added, noting that a site's average wind speed is also a key factor in achieving better solar module cooling.

The research team proposed installing a 1 MW grid-connected PV system at each site, using pontoons made from hollow plastic floats. They evaluated various solar module technologies, including models from JA Solar, Suntech, LG, Sunpower, and Greentech, with outputs between 350 W and 370 W and efficiencies ranging from 18.0% to 20.4%. The installation area was estimated at 4,899 m².

The analysis showed King Fahd Dam achieved the lowest LCOE at $0.053/kWh, while Wadi Hali Dam and Wadi Namar Dam reached $0.063/kWh. “The LCOE values align with Saudi Arabia's electricity tariff of $0.048/kWh for households and $0.080/kWh for industries,” the researchers said, identifying King Fahd Dam as the most suitable site for floating PV power stations.

The team also found Wadi Hali Dam had the shortest return on investment (ROI) at 12 years, with King Fahd Dam and Wadi Namar Dam both at 13 years.

“This pilot study will not only increase scientific understanding, but will also help with policy formulation, regulatory approvals, and commercial investments in FPV technology in Saudi Arabia and other similar regions around the world,” the researchers concluded.

Their findings are available in “Study of a grid-connected floating photovoltaic power plant of 1.0 MW installed capacity in Saudi Arabia,” which was recently published in Heliyon.