Research Article
Economical Feasibility of Utilizing Photovoltaics for Water Pumping in Saudi Arabia
Table 6
Summary of internal rate of return (IRR) and cost of energy (COE) for all the stations considered in the present work.
| | Location | Pretax IRR (%) | Payback period (years) | Cost of energy (/kWh) | Plant capacity factor (%) | | Equity | Assets | Simple | Equity |
| | Dhahran | 10.3 | 3.2 | 11.7 | 13.1 | 19.582 | 18.7 | | Riyadh | 10.7 | 3.5 | 11.4 | 12.9 | 19.169 | 19.1 | | Jeddah | 10.9 | 3.5 | 11.3 | 12.8 | 19.024 | 19.2 | | Guriat | 10.7 | 3.5 | 11.4 | 12.9 | 19.160 | 19.1 | | Nejran | 14.0 | 5.2 | 09.7 | 11.1 | 16.319 | 22.4 |
| | Average | 11.3 | 3.8 | 11.1 | 12.6 | 18.651 | 19.7 |
|
|
