Solar Photovoltaic Power Plants
Solar power continues to become a very important contributor for meeting energy needs worldwide. WGGO hopes to promote universal energy access, accelerate improvements in energy efficiency, and double the global share of renewable energy by 2030.
Photovoltaic (PV) cells convert solar radiation directly into electricity through the photovoltaic effect in a silent and clean process that requires no moving parts. The PV effect occurs when solar radiation from the sun hits a semiconductor in PV cells, generating electron movement. The electron movement generates energy that is converted to DC electricity. A PV power plant contains many PV cells connected together in modules, and many modules connected together in strings to produce a substantial amount of DC electricity to meet local and regional energy demand.
- Optimum power plant design
- Project implementation including permits and licensing, selection and contracting of engineers, finding a procurement and construction (EPC) company, power plant construction, and operations and maintenance (O&M).
- Commercial and financing aspects.
- Land. Access to land is also a basic requirement for project development. Project land must be purchased or leased for longer than the debt coverage period; a minimum of 15–20 years is desirable, although a 40–50 year lease is often signed.
- Permits and agreements usually take very long and differs from country to country. Land lease agreement, Site access permit, Building permits, Environmental permit, Grid connection agreement and Operator/generation license.
- Investment and funding requirements and the investment concept. This should include equity contribution amounts and sources, equity partner requirements and financing assumptions to be included in a financial model. A project structure and risk-mitigation strategy. In many emerging markets, to make a project “bankable” (i.e., able to attract reasonably priced debt financing) it is typically necessary to secure credit enhancements, which can be either private (donation, letters of credit, escrow accounts) or governmental (sovereign guarantees).
- PV technologies: Crystalline silicon (c-Si), thin-film, amorphous silicon (a-Si), cadmium telluride (CdTe), copper Indium selenide (CIS), copper indium (Gallium) di-selenide (CIGS/CIS), heterojunction with intrinsic thin-film layer (HIT).
- Taxation: The U.S. investment tax credit provides owners of a project with a 30 percent tax credit on the capital expenditure of a solar PV project to offset against their tax liabilities in the United States.
After successfully completing this project, benefits include:
- Promote the development of renewable energy and energy efficiency.
- Generate energy with no GHG emissions.
- Disconnect from the electrical grid.
- Use underutilized or degraded land.
- Prevent electricity loss.
- Improve energy and grid security.
- Create employment opportunities and economic growth.
- Provide access to a free source of energy.
Experts & Strategic Consultants
Lea Márquez Peterson
Member of the Committee,
Women & Energy Committee
Smart Cities Committee