Received: 28 December 2018 Revised: 5 April 2019 Accepted: 18 May 2019

DOI: 10.1002/ep.13268

SUSTAINABLE ENERGY

Floating solar power plant for sustainable development:

A techno-economic analysis

Anik Goswami1 | Paromita Sadhu2 | Utpal Goswami1 | Pradip Kumar Sadhu1

1
Department of Electrical Engineering, Indian
Institute of Technology (ISM), Dhanbad,
Jharkhand, India
2
Department of Electrical Engineering,
Academy of Technology, Adisaptagram,
West Bengal, India
Correspondence
Anik Goswami, Department of Electrical
Engineering, Indian Institute of Technology
(ISM), Dhanbad, Jharkhand, India.
Email: anik91_go@rediffmail.com
Abstract
The primary source of energy is depleting day by day owing to an increase in per capita
energy consumption. To ensure energy security, to minimize climate change problems
and to guarantee sustainable development, the useful utilization of renewable energy
potential is of utmost importance. Recent researches reveal significant environmental
effects in utilization of photovoltaic technology in large power plants located in urban
locations. Further observations depict that the ground mounted PV power plants occupy
large land spaces in the modern cities. These have led to the escalation of land price which
has resulted in increasing the levelized tariff of electricity. Floating Solar Photovoltaic
(FSPV) is an alternative to mitigate the aforesaid problems. In this article, a techno-
economic feasibility of a 10 MW FSPV plant is done to show the economic viability and
environmental suitability in maintaining ecological balance through adoption of floating
solar photovoltaic technology as compared to conventional ground mounted PV systems.
The results show that floating solar photovoltaic power plant has 10.2% more generating
capacity than land based PV system and producing 28.38 MU excess generation over the
life cycle of the plant. The FSPV plant will save the land cost burden of USD 352125 and
water cess burden of USD 47,600. This results in reducing the levelized tariff of FSPV
plant to USD 0.026/kWh which is 39% less than land based PV power plant. The FSPV
plant will also save 92,945.92 MT of Coal and a total CO2 emission of 340,801.74 ton.
The FSPV power plant will help to bridge the gap between energy demand and supply
along with reducing the cost of electricity and protecting the environment.

KEYWORDS
floating solar power plant, photovoltaic, renewable energy, sustainable development

1 | I N T RO D UC T I O N increasing energy demand. Economically viable strategies must be

Industrialization and population growth have led to a steep increase in
energy demand. This has created a huge pressure on fossil fuel
resources as energy generation is still heavily dependent on conven-
tional power plants. As fossil fuels are limited in nature, there is a
steep increase in the price of conventional energy. Moreover, fossil
fuel based power plants emit greenhouse gases and cause global
warming. Therefore, there is a need to find alternate energy sources
that can generate clean, green, and affordable power to meet the ever
adopted to mitigate greenhouse gases and reduce global warming.1
A viable alternative is to use solar energy as a source of energy gener-
ation. Sun is an eternal source of energy and the conversion of solar
energy to electrical energy is one of the most popular choices to meet up
the energy demand of the growing economies. The earth captures only a
small fraction of the energy emitted by the sun, around 170 million
GW.2,3 The energy potential of the earth is nearly 6,000 million GWh
energy per year (Central Electricity Regulatory Commission [CERC],
2015). India, which is located in the equatorial region of the earth,

Environ Prog Sustainable Energy. 2019;e13268. wileyonlinelibrary.com/journal/ep © 2019 American Institute of Chemical Engineers 1 of 15
https://doi.org/10.1002/ep.13268
2 of 15
receives an annual global radiation between 1,600 and 2,200 kWh/m2.
India is a power short nation and being in the tropical region has a huge
potential of solar generation which is estimated to be 5,000 trillion kWh
2
per year. India receives a daily solar irradiation of 4–7 kWh/m and an
2
annual irradiation of 1,200–2,300 kWh/m . The average clear sun days
are in the range of 250–300 and the total sunshine hours is 2,300–3,200
annually. 4-6
Taking into account this huge solar potential, India has pro-
vided a boost to the solar industry (CERC, 2015).
It is observed that most parts of India is plagued by power short-
age which reflects that the energy demand is more than the energy
generated. Figure 1 gives a clear difference between energy supply
and energy demand in India from the year 2005 to 2015.7
There is a need for the promotion of solar PV projects in the country
due to the inherent advantage of this type of project. Solar energy is an
inexhaustible primary source of energy wherein greenhouse emissions
and pollution is nearly zero. Solar PV generation technology is commer-
cially proven and large PV projects have been operating since last
decade.8 Sharma9 mentioned that India has geographical advantage to
harness solar power and has a solar power generation potential of
750 GW. National tariff Policy of 2006 made it compulsory for the State
Electricity boards to develop renewable energy sources. There is a mini-
mum quota for renewable energy generation for each state. This has led
to the development of renewable energy in India.10
Sharma et al.11 determined the design and feasibility of standalone
roof top solar system and concluded that for a household demand of 9.57
kWh of energy per day, a 1.5 kWp solar plant is sufficient and for public
utility like a hotel, having a daily demand of 600 kWh, 107 kWp solar
12
power plant is adequate. A study in 2012, by Jain et al. presented that
100 MW solar power plant is feasible in Jodhpur, India and the levelized
tariff of electricity is 34.17 US cents/kWh. Using thermal storage system
the levelized tariff further decreases to 31.4 US cents/kWh. Chauhan and
Saini13 performed a techno-economic and feasibility study to supply
power to an isolated community in India having 48 villages using solar
power plant. The levelized cost of electricity determined is USD 0.092/
kWh which is significantly less than the electricity tariff of Uttarakhand.
Despite being a clean and green source of energy, stand-alone solar
power plants suffers from low reliability and low efficiency. To increase
the reliability and generation capacity, hybrid power plants are now
F I G U R E 1 Energy demand and supply curve [Colour figure can be
viewed at wileyonlinelibrary.com]
GOSWAMI ET AL.
being developed.14 Al-Ghussain et al.15 analysed a hybrid system com-
prising various combinations of solar power plant, fuel cell, and Pumped
Hydro Storage in Cyprus. The study showed that the solar hybrid sys-
tem has increased the Renewable Energy System (RES) fraction from
36.2% to 45.4% and Demand Supply Fraction (DSF) by 9%. The system
consisting of 2.57 MW PV, 4.14 MWh of pumped hydro storage and
1.16 MWh of fuel cell have a levelized cost of 0.181 USD/kWh. The
optimal configuration of solar-wind hybrid system that is more eco-
nomically viable for Iran has been determined by Atael et al.16 is 75 kW
diesel generator, 75 kW wind turbine, and 21 kW photovoltaic array.
Farahi and Fazelpour17 determined the levelized tariff for hybrid system
for residential, public, and commercial buildings in Iran. The levelized
cost for residential building came out to be USD 0.250/kWh, for com-
mercial building it was USD 0.264/kWh and for public building USD
0.252/kW. Al-Ghussain et al.18 developed the optimal size of renew-
able energy sources consisting of photovoltaic and wind energy system
for three different energy storage system. The total electrical demand
of the system was calculated using linear regression model, using the
hourly demand, between the period 2011–2015. The study showed
that the combination of 4.19 MW PV capacity, 8 MW of wind capacity,
and 89.5 MWh of pumped hydro storage gives the highest RES fraction
of 88% and the maximum DSF of 42.6% among all configurations with
levelized tariff being 0.175 USD/kWh. Moreover, Jeyaprabha and
Selvakumar19 have presented the optimal sizing of hybrid renewable
system using adaptive neuro fuzzy inference system for Indian scenario.
The cost of the optimal system came out to be USD 1796.6 which is
less than the standalone PV system which costs around USD 6552.22.
Rashid et al.20 compared the cost of electricity in Saint Martin's Island
in Bangladesh when supplied by the PV standalone system and when
supplied by PV-wind hybrid system. The hybrid system can cater to
67% of the load giving a levelized tariff of USD 0.392/kWh.
With the periodic rise in coal prices and reduction in cost of Solar
Modules and related accessories, PV projects and achieved the pro-
curement parity with conventional source of energy. Thus in a long
run power will be much cheaper than its conventional counterparts. A
study by Al-Ghussain et al.21 showed that the annual electricity bill
saved by a utility using RES is 21.58 M USD.
Government of India has set an ambitious target of installing
175 GW renewable energy by 2022, out of which 100 GW peak
would be through solar, 60 GW through wind, 10 GW through bio-
mass, and 5 GW through small hydro. To achieve the 100 GW solar
energy generations, 3,000 km2 of land area is required which is almost
0.1% of total land area of India.22 Generation of solar energy highly
depends on the solar irradiance and sunshine hours. In a developing
country like India there is an acute dearth of unutilized vacant land to
meet the 100 GW peak solar installations. The rising price of land also
comes out as a hindrance to achieve the above target which in turn is
increasing the price of the solar projects.
Floating Solar Photovoltaic (FSPV) is an attractive alternative tech-
nical solution to counter the problem of an increase in solar project
cost due to escalating land prices. FSPV is the generation of power by
solar PV system installed over water bodies using floating machin-
ery.23 Using this technology, solar power plants can be made on water
GOSWAMI ET AL. 3 of 15

bodies as an alternative to land. Owing to the scarcity of land, the
FSPV system is gaining importance at a rapid pace. Sharma and
Kothari24 investigated the advantages and potential of FSPV in large
reservoirs of India. West Bengal has been identified as a hotspot for
developing FSPV. Land based PV systems are sensitive to high tem-
perature rise. Recent studies by Barron et al.25 also suggest that this
large solar power plants create “heat islanding” effect in cities like
increase in ambient temperature by 3–4
C than the wild lands at
night. The efficiency of the solar system and temperature has an indi-
rect relation with each other; with an increase in temperature the out-
put from the solar panels decreases.26
Floating solar panels have a self-regulating effect with increase in
temperature the evaporation rate increases which in turn cool the panels
thus enhancing the efficiency of generation by 11% compared to land
based PV system as reported by Choi.27 The evaporation of water is
restricted by floating solar panels, which also blocks excess sunlight; thus
controlling algal bloom. Lui et al.28 presented that FSPV helps to save
27 3
2*10 m of water from evaporation annually. The potential capacity of
FSPV is 160 GW in China. Majid et al.29 studied the performance of
80 W FSPV in Malaysia. The results show that there is 15.5% increase in
energy absorption using FSPV. They suggested that FSPV has a maximum
output at 25
C. Moreover, Trapani and Miller30 used FSPV to generate
power for the mining industry. The results showed that using FSPV the
discounted cost of electricity is less and the CO2 emission is reduced.
31
Sharma et al. discussed the designing of 10 kW FSPV in India. The study
showed that the evaporation of water was reduced by 70%. The quality
of water was also improved as algal growth was reduced. FSPV also
ornate a site making it a site of attraction and it can also be used as charg-
ing points for charging electric vehicles.
As solar potential in India is very high therefore a technical feasi-
bility study was performed for installation of 10 MW floating solar
power plant at Neel-Nirjan Dam, West Bengal. In this article financial
analysis of FSPV power plant is done and the levelized tariff is calcu-
lated. A comparative study of Conventional Ground Mounted Solar
and Floating Solar is presented with respect to the levelized cost of
energy generation and to mitigate environmental hazards.
1.1 | Site selection
Selected area is Neel-Nirjan Dam of Bakreswar Thermal Power Plant
(BkTPP) having coordinates as 23
490 3300 N 87
250 E. Total depth of
the Dam Reservoir is 23 m with a free boat of 3.9 m. As this it is a res-
ervoir of power plant so fixed water level is maintained for a whole
year. This water is being cleaned by different process. This water is
highly usable. Figures 2–5 shows the meteorological parameters of
selected site taken from July 2016 to July 2017.32
1.2 | Solar potential in BkTPP
The meteorological data of Bakreswar are given in Table 1.33 Annual
average irradiance of Bakreswar is 4.82 kWh/m2day. Primarily a
detailed survey has been done for the availability of water body in
BkTPP. The area has been identified in the Neel Nirjan Dam of
BkTPP.

F I G U R E 2 Min, max, and average Bakreswar, India

temperature [Colour figure can be viewed Max, Min and Average Temperature
at wileyonlinelibrary.com] 45
40
35
Temperature oC

30
25
20
15
10
5
0
Jul '16 Aug '16 Sep '16 Oct '16 Nov '16 Dec '16 Jan '17 Feb '17 Mar '17 Apr '17 May '17 Jun '17 Jul '17

Maximum Temperature Average Temperature Minimum Temperature

Bakreswar, India
Average Wind Speed and Gust
20
Wind Speed kmph

15

10

0
Jul '16 Aug '16 Sep '16 Oct '16 Nov '16 Dec '16 Jan '17 Feb '17 Mar '17 Apr '17 May Jun '17 Jul '17
F I G U R E 3 Annual average wind
'17
speed [Colour figure can be viewed at
wileyonlinelibrary.com] Average Gust Speed Average Wind Speed
4 of 15 GOSWAMI ET AL.

Bakreswar, India F I G U R E 4 Annual rainfall [Colour

figure can be viewed at
Average Rainfall Amount (mm) and Rainy Days wileyonlinelibrary.com]
140
120
100
80
60
40
20
0
Jul '16 Aug '16 Sep '16 Oct '16 Nov '16 Dec '16 Jan '17 Feb '17 Mar '17 Apr '17 May '17 Jun '17 Jul '17

Rain(mm) Days

Bakreswar, India F I G U R E 5 Annual sun hour [Colour

figure can be viewed at
Average Sun Hours and Sunny Days wileyonlinelibrary.com]
400
350
300
250
200
150
100
50
0
Jul '16 Aug '16 Sep '16 Oct '16 Nov '16 Dec '16 Jan '17 Feb '17 Mar '17 Apr '17 May '17 Jun '17 Jul '17

Sun Hour (hr) Sun Days

1.3 | Details of PV power plant system design
consider for system study
Overview of the Floating Solar Power Plant is depicted in Figure 6.
The basic component of the floating power plant is given below.
For system designing, 20 number of 320 W peak modules is con-
nected in series to make one string. Total number of strings for the
10 MW plant is 1,563, which is further connected to 10 numbers of
1 MW central inverters or Power Condition Unit (PCU). The inverter is
used for the conversion of DC power obtained from the PV system to AC
power. As the system is grid connected the AC power must match the
voltage and power quality of the grid. The PCU also cuts the power flow
to the grid if the grid is not energized. At night or at low irradiation condi-
tion when the PV power output is less than the load demand; the grid
supplies the balance power for uninterrupted supply. When the utility
grid is down, these systems automatically shut down and are discon-
nected from the grid. This makes it certain that PV power is not fed back
to the grid when it is out for maintenance. The standard and regulations
of system level components which include the inverter and other balance
of the system components are mainly discussed in the following section.
10 MWp land neutral Solar PV power generation plant. The layout is
shown in Figure 7 and the 10 MWp Power Plant designing parameters are
shown in Table 2.
For the floating solar power plant, 10 number of 1 MW solar
panels are connected in parallel. These panels are further connected
to 1 MVA and then although a step up transformer it is connected to
the grid. The single line diagram is shown in Figure 8.
1.5 | System simulation
To find out the actual energy output the simulation for the floating solar
power plant is done considering above meteorological parameters using
PVSyst v6.43 software. The total solar power output from the floating
solar power plant is simulated using PVSyst as shown in Table 3. The solar
PV module used for the simulation is of poly crystalline types. The effi-
ciency of the module is taken as 16.1%. The maximum voltage of the
module is 666 V and having a maximum current 13,465 A. The fill factor
is taken to be 77.4. To generate the required demand of 10 MW, a total
31,260 modules in series and 1,563 strings in parallel are required. From
Table 3 it is observed that the total produced energy is 14,969 MWh/year
with a performance ratio of 78.46%.

1.4 | Plant layout

• Effective Incident Solar Radiation
The plant layout corresponds to the various requirements of the plant
operation; it is placed at a distance from the embankment. There are five The amount of solar energy that is falling over the surface per unit
islands with a capacity of 2 MWp, which have been proposed for a area is the total Solar Radiation. Some of the radiation is diffused,
GOSWAMI ET AL. 5 of 15

scattered to the atmosphere. There is a shading effect on the solar incident on the panels. Effective solar radiation, is the solar radiation
panels due to the shadow of nearby trees or structures or due to incident on the panels taking all these factors into account.
accumulation of dust. This hinders the amount of solar energy that is
• Performance Ratio

TABLE 1 Meteorological data of Bakreswar

The reliability and energy efficiency of the solar power plant is deter-
Sl. No Particulars Descriptions mined by the performance ratio. The power quality is determined by this
1. Project site Bakreswar ratio and it is dependent on the solar insolation, shading, and angle of ori-
2. District name Birbhum entation of the solar panels. Mathematically the ratio is given by Equa-
3. Name of the state West Bengal tion (1). The performance analysis of the plant is given in Table 3.
4. Geographical coordinates 23
490 3300 N 87
250 E
5. Daily global solar irradiance 4.82 kWh/m2 Actual plant output reading
Performance Ratio = ð1Þ
Plant output under ideal case
6. Daily diffuse solar irradiance 1.81 kWh/m2
7. Annual global solar irradiance 1810 kWh/m2
The 10 MW floating solar plant is simulated using PVSYST software
8. Annual diffuse solar irradiance 661 kWh/m2
version 6.64. The solar irradiation data of Bakreswar is collected over a

PV Generator

Measuring Measuring Main

DC switch Inverter AC switch Switchboard Main switch Transformer
(5) Disconnector Protection
Disconnector Disconnector
(7) (8)
(2) (3)

L1 DC AC Wh Wh

Protection Protection Protection

against against against
Overvoltage Overvoltage Overvoltage
(1) (4) (6)

FIGURE 6 Overview of the floating solar plant

F I G U R E 7 Floating solar power plant layout

[Colour figure can be viewed at
wileyonlinelibrary.com]
6 of 15 GOSWAMI ET AL.

TABLE 2 Floating solar power plant design parameters TABLE 3 Annual solar irradiation

DC capacity 10.003MWp Effective irradiation Array output Energy injected

Months (kWh/m2) energy (MWh) into grid (MWh)
AC capacity 10 MW
PV module 320Wp poly crystalline January 157.5 1,349 1,326

No. of PV module 31,260 February 159.3 1,323 1,302

No. of module per string 20 March 169.3 1,382 1,359

No. of strings 1,563 April 189.8 1,557 1,532

No. of arrays 100 May 174.9 1,455 1,430

Solar inverter 10 June 123.9 1,053 1,032

Inverter quantity 1 MW July 115.8 976 957

Transformer capacity 2,250 kVA August 123.5 1,045 1,025

Transformer quantity 5 September 125.1 1,060 1,041

Evacuation voltage level 33KV October 161.2 1,348 1,325

November 166.7 1,397 1,373
December 151.2 1,290 1,267
Total 1818.2 15,235 14,969

1 MWp PV Array 1 MWp PV Array

Table 3 shows the yearly solar radiation and the energy injected into
the grid. Maximum PV power is generated in the month of April with
1,532 MWh and the minimum in the month of July with 957 MWh.
Figure 9 shows the performance ratio of the solar power plant. It can be
observed that the performance ratio is maximum in the month of January
with 81.1% when the ambient temperature is 24.0
C. This is due to the
1000 kVA, 3 ph, 1000 kVA, 3 ph,
400 V Inverter 400 V Inverter fact that the PV power depends not only on the solar radiation but also
upon the ambient temperature and the shadow effect.

1.6 | Project cost estimation for floating solar

The main assumptions for the project are:

2250 kVA, 0.4/33 kV, 3-winding

1. Utilization factor of the solar plant is considered 16.25% for BkTPP as
Transformer
the solar irradiance at BkTPP is 4.82kWh/m2 and efficiency of the
panel is 16%, with degradation factor of 1% per year.35
2. Degradation factor is considered after 1 years of the plant with
33 kV Bus
1% degradation for every year up to 25 years, as per MNRE.

FIGURE 8 Single line diagram of floating solar power plant

year and is used for simulation. The effective irradiation of Bakreswar is
calculated from the global solar irradiation data retrieved from Met-
eonorm database using longitude and latitude of the location after consid-
ering the shading effect and the incidence angle modifier (IAM) output.
The solar module used is manufactured by Topray solar with each
module consisting of 72 cells, the maximum power point voltage is
37.5 V, the maximum power point current is 8.56 A, the power tem-
perature coefficient is −0.40%/
C and fill factor of 0.782. The array
output energy is calculated after taking into consideration the normal-
ized array losses, which include the losses due to dirt, shading, reflec-
tion, and is taken as 1% of the total incoming insolation.34 The central
inverter used is manufactured by SMA and operates with an average
efficiency of 98.2%. The energy injected into the grid is calculated
after taking into consideration the normalized system losses.
Table 4 represents the total financial estimate of the project taking
into consideration the total life of the project, the maintenance char-
ges and the debt and equity. The cost of the components and mate-
rials for the floating solar plant is given in Table 5.
The costs are calculated according to the tariff guidelines given by
Central Electricity Regulatory Commission (CERC).36
Capacity Utilization Factor (CUF) for a PV project is the ratio of the
energy produced by the PV plant in a year to the energy it can produce at
rated capacity. According to Ministry of New and Renewable Energy
(MNRE) data on solar PV power plant, the normative CUF taken for this
project is 16.25%. Good quality PV modules have an average life of
25 years. According to CERC, for tariff calculation the useful life is taken
as 25 years. The capital cost of the FSPV includes the cost of machines,
infrastructure, erection, and commissioning. For PV power plants the cap-
ital cost is taken as 0.98 USD/Wp. After proper evaluation of the cost of
floating structures, civil works, mounting structures, control systems,
GOSWAMI ET AL.
F I G U R E 9 Monthly performance ratio [Colour
figure can be viewed at wileyonlinelibrary.com]
power evacuation, and signage, the total cost of the FSPV comes out to
be 9,364,934.72 USD, details given in Table 5.
As per CERC, for the Government projects the debt-equity ratio for
PV power plant should be 70:30. For the FSPV plant the equity is taken
as 100% as this is a community development project, the State Govern-
ment will not allow any private investment. As there is no moratorium
period, the total loan for the project can be paid off by 12 years from the
commencement of the operation. The corporate income tax rate in India
is 33.99% as per Income Tax Act and the MAT rate is 20% under the
Companies Act. The discounting factor is the Post-Tax Weighted Average
Cost of Capital and is used to determine the levelized tariff. As per CERC
the discounting rate is 10.64%. The per annum depreciation of the capital
is based on “Differential Depreciation approach” and as per CERC, it is
5.83% for the first 12 years and remaining depreciation is calculated after
13th year over the useful life. The operation and maintenance (O&M)
charges are levied on a monthly basis with an escalation factor of 5.72%.
The Return on equity (ROE) measures the profitability of a utility and is
the ratio of net income to the equity.
One of the most important factor in calculating the Net Present Value
is the Discounting Factor (d).37,38 In this case d is taken as 10%. The finan-
cial estimates are given in Table 4. According to MNRE, for solar projects,
Annual Maintenance Contract (AMC) is given for 5 years. The AMC also
includes the training of personnel for daily operations. The AMC is ren-
ewed after every 5 years to maintain the health of all the devices. Consid-
ering this the O&M cost in Table 5 is taken for 5 years.
1.7 | Estimation for tariff
The primary objective of the project is to assess the generation cost. If the
cost of generation can be reduced power can be given to the consumers
at a cheaper rate which will in turn help to add a social value to the project.
The present value of the cash inflow generated by selling the
power to the grid has a correlation with the incentives given by the
government. The present value of the annual cash flow received by
selling power is given by
C = ps S1 ð1 + rsolar Þn− 1 + pm Ss ð1 + rm Þn− 1 ð2Þ
7 of 15
where ps is the price of S1 units of electricity that is sold to the utili-
ties, pm is the price of electricity sold above the government rate, Ss is
the amount of power used for captive load, rsolar and rm is the annual
rate of increment of ps and pm respectively.
The operation and maintenance cost of the plant varies with time.
The operation maintenance cost increases as the plant remains in
operation and is given by Equation (3).
COMn = COM1 ð1 + rOM Þn −1 ð3Þ
where rOM is the operation and maintenance escalation factor, COM1
is the operation and maintenance cost in the first year and n is the
number of years.
Taking into consideration the inflation factor the annual cash
inflows before paying the income tax is given by Equation (4).
CbIT = Cð1 + iÞn − COMn ð4Þ
where i is the inflation rate.
Due to inflation, the discounting rate dis affected and the effec-
tive discounting rate is given as
de = d + i + di ð5Þ
The annual cash inflow after paying income tax is given by
Equation (6).


CaIT = CbIT − Cp − CbIT − Cpi −Cd rt + C ð6Þ
where Cp is the yearly annuity, rtis the rate of income tax, Cd is the
yearly depreciation expense, and Cpi is the interest on loans.
To calculate the annual depreciation double-declining balance
method is used. In the double declining method, the depreciation of
fixed assets is fastened. The revenue generation and profit of most utili-
ties is high in the initial years of the life cycle. In double declining
method, the depreciation expenses are taken high in the initial years.
This helps to balance the higher profits earned in the same time period
and thus helps to reduce the tax by increasing the tax deduction. With
8 of 15 GOSWAMI ET AL.

TABLE 4 Basic cost estimate36 TABLE 5 The project cost36

Power generation installed Sl. No. Item Price (USD)

capacity 10 MW
1.0 PV modules
Consumption of auxiliary power 0 % 1.1 PV module (greater than 300 Wp each) 3,802,950.54
Factor related to capacity 16.25 % 2 Floating structures
utilization
2.1 Mechanical locks, underwater lines 28,170
Life of the project 25 Years
3.0 Civil works
Period of tariff 25 Years
3.1 Road Survey & Inspection 42,255.01
Total cost of plant 9,364,934.72 USD
3.2 Control rooms and 33 kV switchyard 246,487.53
Total debt equity (cumulative price)
Debt – % 3.3 Fencing 42,255.01
Equity 100.00 % 3.4 Drainage system and cable trench 28,170
Amount of total debt – USD 3.5 Module cleaning arrangement 25,353
Amount of Total equity 9,364,934.72 USD 3.6 Water supply, storage including drinking 16,902
Component of debt water
Amount of loan – USD 4.0 Mounting structures and civil foundation
Period of moratorium – Years 4.1 Foundation for module mounting 2,817,000.4
Period of repayment 12.00 Years 5.0 Control structures
Rate of interest – % 5.1 Monitoring of junction box 112,680.02
Component of equity 5.2 Central solar inverter (1 MW each) 422,550.06
Amount of equity 9,364,934.72 USD 5.3 All cables & conductors 492,975.07
First 10 years equity return – % p.a 5.4 LT switchgear 42,255.01
Equity return after 11 th year – % p.a 5.5 Earthing system 42,255.01
Return on equity 0 % p.a 5.6 Data acquisition system 42,255.01
Income tax rate 33.99 % 5.7 Weather station 7,042.5
Rate of MAT 20 % 6.0 Power evacuation up to interconnection
(beginning 10 years) point
Discounting factor 10.64 % 6.1 Three winding transformer (2,250 kVA, 211,275.03
Depreciation 0.4 kV–0.4 kV/33 kV)

Rate of depreciation for initial 5.83 % 6.3 Equipment for 33 kV outdoor switchyard 246,487.53
12 years 6.4 Auxiliary transformer (50 kVA, 3,450.83
Rate of depreciation after 1.54 % 33/0.433 kV)
12 years 6.5 DC battery and battery charging unit 15,775.2
Working capital 6.6 Power supply form floating solar 422,550.06
Operation & maintenance 1 Months substation to 33 kV substation
charges 7.0 Miscellaneous items
Spares for maintenance 15.00% Percentage of 7.1 Fire protection system 7,042.5
expenses in 7.2 Illumination system 14,085
operation &
maintenance 7.3 Signage 2,112.75

Debtors receivables(actual fixed 2 Months 7.4 Ventilation system 7,042.5

cost) 7.5 Air conditioning system 35,212.5
Capital interest for working 13.26 % 7.6 Tool kit & measuring instruments 1,408.5
Operation & maintenance 19,719 USD 7.7 Spares 165,806.53
expenses/MW/year 7.8 CC TV and surveillance system 21,127.5
O&M escalation 5.72 % Hard cost Excluding O&M 9,364,932.61
Post tax ROE 16 % 8.0 O&M cost for 5 years 1,105,376.87
Total project cost including O&M Cost for 10,470,309.48
time the value of assets decreases and the maintenance cost increases. 5 years
The high maintenance cost reduces the overall profit of the utility. To
counter this, small depreciation expenses are allocated for the later decreasing manner, this results in balancing the increased cost of
years. In double depreciation method, the expenses are assigned in a maintenance.39-41
 GOSWAMI ET AL.

TABLE 6 Calculation of Levelized tariff

Maintenance Receivables Interest on Total working Total fixed Interest on Total cost of Discounting Discounted cost
(USD in Spares (USD (USD in working capital capital (USD in cost (USD in O & M Cost Depreciation working capital generation factor (10.64%) of generation
Years thousand) in thousand) thousand) (USD in thousand) thousand) thousand) (USD per kWh) (USD per kWh) (USD per kWh) (USD per kWh) (USD per kWh) (USD per kWh)
1 16.33 29.40 34.44 10.63 80.17 206.63 0.014 0.038 0.0007 0.0145 0.0140 0.000203
2 17.27 31.08 36.41 11.24 84.76 218.45 0.015 0.039 0.0008 0.0155 0.0127 0.000196
3 18.26 32.86 38.49 11.88 89.61 230.95 0.016 0.039 0.0009 0.0165 0.0114 0.000189
4 19.30 34.74 40.69 12.56 94.73 244.16 0.017 0.039 0.0009 0.0177 0.0103 0.000183
5 20.40 36.73 43.02 13.28 100.15 258.12 0.018 0.040 0.0010 0.0189 0.0093 0.000176
6 21.57 38.83 45.48 14.04 105.88 272.89 0.019 0.040 0.0010 0.0202 0.0084 0.00017
7 22.80 41.05 48.08 14.84 111.93 288.50 0.020 0.040 0.0011 0.0215 0.0076 0.000164
8 24.11 43.40 50.83 15.69 118.34 305.00 0.022 0.041 0.0012 0.0230 0.0069 0.000158
9 25.49 45.88 53.74 16.59 125.11 322.44 0.023 0.041 0.0013 0.0245 0.0062 0.000153
10 26.95 48.50 56.81 17.54 132.26 340.89 0.025 0.042 0.0013 0.0262 0.0056 0.000147
11 28.49 51.28 60.06 18.54 139.83 360.39 0.027 0.042 0.0014 0.0280 0.0051 0.000142
12 30.12 54.21 63.50 19.60 147.83 381.00 0.028 0.043 0.0015 0.0299 0.0046 0.000137
13 31.84 57.31 67.13 20.72 156.28 402.79 0.030 0.011 0.0016 0.0319 0.0041 0.000132
14 33.66 60.59 70.97 21.91 165.22 425.83 0.032 0.011 0.0018 0.0341 0.0038 0.000128
15 35.59 64.05 75.03 23.16 174.67 450.19 0.035 0.012 0.0019 0.0364 0.0034 0.000123
16 37.62 67.72 79.32 24.49 184.66 475.94 0.037 0.012 0.0020 0.0389 0.0031 0.000119
17 39.77 71.59 83.86 25.89 195.23 503.16 0.039 0.012 0.0021 0.0415 0.0028 0.000115
18 42.05 75.69 88.66 27.37 206.39 531.95 0.042 0.012 0.0023 0.0443 0.0025 0.000111
19 44.45 80.02 93.73 28.93 218.20 562.37 0.045 0.012 0.0024 0.0473 0.0023 0.000107
20 47.00 84.59 99.09 30.59 230.68 594.54 0.048 0.012 0.0026 0.0506 0.0020 0.000103
21 49.68 89.43 104.76 32.34 243.87 628.55 0.051 0.012 0.0028 0.0540 0.0018 9.96E-05
22 52.53 94.55 110.75 34.19 257.82 664.50 0.055 0.012 0.0030 0.0577 0.0017 9.6E-05
23 55.53 99.95 117.08 36.14 272.57 702.51 0.058 0.013 0.0032 0.0616 0.0015 9.27E-05
24 58.71 105.67 123.78 38.21 288.16 742.69 0.062 0.013 0.0034 0.0657 0.0014 8.94E-05
25 62.06 111.72 130.86 40.40 304.64 785.18 0.067 0.013 0.0036 0.0702 0.0012 8.62E-05
9 of 15
10 of 15 GOSWAMI ET AL.

This method is usually used for calculating capital depreciation as
it gives tax saving and also helps to offset the maintenance cost.
Hence, the expense due to annual depreciation is given by
Equation (7)
Cd = Cres d
It can be seen from Table 7 that the levelized tariff is USD 0.026/
kWh which is significantly less than a Conventional Power plant.42,43
The PVsyst output of the ground mounted plant is the same consider-
ing that the plant is located in same geographical location and same
system design. The cost of the ground mounted plant is given in
ð7Þ
Table 8.

where Cres is the residual value at the end of n years.

The residual value can again be expressed by Equation (8). 2 | RESULTS AND DISCUSSIONS
 
2
Cres = Cd 1 − ð8Þ
n India being one of the fastest growing economy, has witnessed an
exponential growth in the industrial, commercial, and agricultural sec-
The annual interest on the investment is given by Equation (9) and tor. This has led to an increase in the energy demand. From Figure 1 it
the annual interest on loan is given by Equation (10) can be seen than India has a power deficit of 3.57%. The eastern part
of India is the 10th largest consumer of electricity and takes a share
 n 
d0 ð1 + d0 Þ of 4.39% of the total electricity consumed in India.7 As per Central
Cpi = Pl ð9Þ
ð1 + d0 Þn − 1 Electricity Authority (CEA), the eastern region has a total installed
capacity of 135,490 MW and an energy deficit of 1,032 MU. From
Cpi = Cl d0 ð10Þ Figure 10 it can be observed that as of 2018, West Bengal has an
energy requirement of 50,760 MU and the available supply is 50,570
where Pl is the total initial investment and Cl is the debt other than MU, which accounts for a deficit of 0.4%.7 To bridge the gap between
the principal. the energy demand and the energy produced, the Government of
The net present value is calculated using Equation (11) India is emphasizing on renewable power generation and is giving the
state licensees Renewable Purchase Obligation (RPO) targets. The
N = CaIT ð1 + de Þ −n ð11Þ RPO target of West Bengal for the year 2018 is 0.35% of the total
energy produced. The 10 MW FSPV plant at Bakreswar will help
After considering the income tax and total life cycle of the project
West Bengal to increase its power generation capacity and also to
the tariff is calculated as
reach the targeted solar RPO.
X
n  
T= N− Pl ði + de Þ −n + Cres ð1 + de Þ −n ð12Þ
1
2.1 | Performance of FSPV

The calculation for the levelized tariff is given in Table 6.
The levelized tariff is calculated using double declining balance
method, where the expenses are allocated in a decreasing manner with
time. The total operating life of the FSPV is taken as 25 years. The main-
tenance cost is calculated over the life cycle of the plant and is given in
Table 6. The cost of spares required by the plant in 25 years is also calcu-
lated. Taking into consideration the total fixed cost, the cost of operation
To determine the performance of the FSPV, a 100 Wp FSPV module
was set up at BkTPP. The main fixing parts are made up of aluminum
to make it light. The details of the 100 Wp FSPV module is given in
Table 9. A 100 Wp land based solar module of same specification was
also set up at BkTPP.
The FSVP module and the land based module were kept under sun
for 5 hr daily for a month. The experiment was done in the month of April

and maintenance and the depreciation value, the cost of generation of in 2017. Solar power meter (Tenmars TM-207) was used to record the

electricity per unit is calculated for the 25 years life cycle. Taking into solar irradiance and the temperature was measured using infra-red ther-

account the discounted cost of generation, the levelized tariff of electric- mometer (Meko IRT 550). The temperature was taken at the four corners

ity is calculated by Equation (13). and at the center of the PV module and the average temperature was
taken. The experimental setup is shown in Figure 11.
Pn
CD
T = P1n ð13Þ
1D

TABLE 7 Cost summary

where CD is the discounted cost of generation and Dis the dis-
No. Item Amount
counting factor.
1. Total Plant capacity 10 MWp
From Table 6 using Equation (13) the levelized tariff of electricity
2. Project cost USD 10470309.48
generated from floating solar power plant operating for a period of
3. Levelized tariff USD 0.026/kWh for BkTPP
25 years is calculated as USD 0.026/kWh.
GOSWAMI ET AL. 11 of 15

TABLE 8 Financial analysis for ground mounted PV system36 52,000 0.7

50,000 0.6
Total size of plant MW 10
48,000 0.5

Energy (MU)
Capacity utilization factor % 20.00%
46,000 0.4

(%)
Degradation of module % 0.5% 44,000 0.3
Project life Years 25 42,000 0.2
Total cost of capital 40,000 0.1

Materials cost USD per MW 464,805.07 38,000 0

FYI 14-15 FYI 15-16 FYI 16-17 FYI 17-18 FYI 18-19
Cost for project land USD per MW 35,212.5
Requirement Availability
Construction and commissioning cost USD per MW 42,255.01
Deficit(%) RPO (Solar)(%)
Pre operation cost USD per MW 5,634.00
Cost for contingency % 0.10%
F I G U R E 1 0 Power scenario of west bengal [Colour figure can be
Interest levied before construction USD per MW 21,944.43 viewed at wileyonlinelibrary.com]
Capital cost/ MW USD per MW 570,386.24
Total debt and equity
Interest levied during construction % 12% TABLE 9 Specification of FSPV module
Total duration of construction Months 8 Company Topray solar
Debt % 70% Module area 0.67 m2
Cost of debt % 10.50% Open circuit voltage (Voc) 21.97 V
Tenure or debt Years 15 Short circuit current (Isc) 6.07 A
Period of moratorium Years 0 Maximum power 100 W
Component of equity % 30% Fill factor 0.782
Post tax return of equity % 16% Reference temperature 25
C
Other financial assumptions Reference irradiance 1,000 W/m2
Rate of income tax % 34.61%
Rate of maximum alternate tax (MAT) % 21.34%
Discounting rate % 9.61%
The aluminum supporting structure of the FSPV also helps to dissipate
Expenses for insurance % 0.10%
the heat, hence resulting in cooling of the surface. Thus, the FSPV is
1st Year O&M expenses USD per MW 4,225.5
helpful in reducing the “Heat Islanding” effect caused due to large land
Rate of escalation of O&M expenses % 4.50%
based PV plants.
Working capital interest % 12.50%
The power output of solar cell also depends on the temperature.
Assumptions for depreciation From Figure 13 it is evident that the cumulative power generation
Book depreciation value % 4.32% and the efficiency of floating solar power plant are higher compared
The residual rate % 5% to ground mounted power plant. The cause of higher generation from
Depreciation on tax floating power plant is due to less temperature rise of the PV module.
Tax depreciation rate % 15% Daily average power output of the FPV plants is approximately 10.2%
Assumptions on revenue higher compared to the land based system. Thus, the return on invest-
Levelized tariff USD/kWh 0.042 ment is expected to be higher. Now for 25 years, considering 1% deg-
radation of the PV modules, total excess generation from the plants
would be 28.38 MU and the total sale cost works out to USD 727180
as seen from Figure 14.
Figure 12 shows that when the ambient temperature is about
34
C, the FSPV has an average temperature of 47
C while the land
based PV system has an average temperature of 59
C. The FSPV is
2.2 | Comparison with conventional power plant
cooler by 12
C. In case of ground mounted system, the module tem- In India, as per CERC, the price of electricity from conventional power
perature is more as the sunlight is trapped by the soil underneath the plant is USD 0.05/kWh.35 From Table 7, the levelized cost of electric-
module. This causes “Heat Islanding effect.” However in the FSPV, ity from the FSPV is USD 0.026/kWh which is 48% lesser. The lower
due to the presence of the water body the effective temperature of tariff will make electricity affordable to all and help India reach toward
the module decreases due to evaporation as the sunlight is heating 100% electrification of villages. Moreover, as per CEA reports,7
the water body. The air temperature surrounding the module also 10 MWp plant will save emission of CO2 to the tune of 13,632.06
decreases due to the presence of cold water in the reservoir pond. tCO2/year. For 25 years life and considering plant degradation 1%,
12 of 15 GOSWAMI ET AL.

FIGURE 11 Experimental setup of 100 Wp floating solar module [Colour figure can be viewed at wileyonlinelibrary.com]

is USD 142.93/acre annually, so a total loss of this land will result in a

70 loss of USD 5717.04/year. So, for 25 years the total loss of income
60 for agriculture is USD 560000 (with 10% escalation of cost of crop) as
Temperature (oC)

50 seen from Figure 15.

40
As per the Central Water Commission Basin Planning and Man-
30
20 agement Organisation46 the region east of 87
E longitude, including
10 parts of West Bengal and entire North East India, annual evaporation
0 loss is 1.75 kL/m2. As the total estimated coverage area for this
0 5 10 15 20 25 30
Days 10 MW plant is 120,000 m2, the total evaporation loss reduction will

FSPV Land PV Ambient
F I G U R E 1 2 Comparison of module temperature between land
based PV and FSPV [Colour figure can be viewed at
wileyonlinelibrary.com]
the total emission savings will be 340,801.74 tCO2 and it will save
92,945.92 MT of Coal. This will help in reduction of environmental
pollution and reduce the stress on the coal reserve of the country.
be 210,000 kL/year which in turn will reduce specific water consump-
tion of the plant. As per the Water Cess Act,47 the total savings for
25 years will be USD 47600.
The savings in water cess, land cost, and increased generation of
the FSPV plant results in lowering the overall cost of the plant. This
results in lowering the levelized tariff of electricity for the FSPV plant.
From Table 8 it can be observed that the levelized tariff for the FSPV
power plant is USD 0.026/kWh which is 39% lesser than the land
based PV power plant having a levelized tariff of USD 0.042/kWh.
Floating solar system has manifold advantages

• Floating solar panels have better generation efficiency.

2.3 | Comparison with land based PV power plant
For a 10 MWp ground mounted solar project 40 acres of land is required.
India being a populous country, has a scarcity of land and land prices are also
very high. The land prices in Birbhum District is USD 35212.5 per MW, cal-
culated as per the rate of dept. of District Land Revenue, Birbhum.44 For
acquisition of 40 acres of land, there will be a cost burden of USD 352125.
The price of land increases the overall price of ground based PV power
plant, which in turn increases the levelized cost of electricity.
Ground Mounted Solar Project will also result in agricultural loss.
As per the report of State Agricultural Plan for West Bengal, done by
NABARD,45 present net income from the agricultural land of Birbhum
• Urban land being always a scarce entity, floating solar power plant
is the best alternative as it utilizes the water bodies and solves the
problem of land crisis. FSPV also helps to reduce CO2 emissions
and reduce the stress on coal for power generation.
• The “Heat Islanding” effect is nullified. The temperature of the sur-
rounding increases due to the presence of large PV system; how-
ever, the floating solar power plant has no such effect on the
environment.
• The floating solar system also helps in conserving water by reduc-
ing evaporation; it maintains water quality by keeping the algal
bloom in check thus conserving the ecological balance.
GOSWAMI ET AL. 13 of 15

F I G U R E 1 3 Solar irradiance and average 80 1200

power output [Colour figure can be viewed at
70

Solar Irradiance (W/m2)

wileyonlinelibrary.com] 1000

Output Power (W)

60
800
50
40 600
30
400
20
200
10
0 0
0 5 10 15 20 25 30
Days
Solar Irradiance Land Based PV power FSPV power

F I G U R E 1 4 Units generated by land based 16000000 35000

PV and FSPV over the life cycle [Colour figure can
14000000 30000
be viewed at wileyonlinelibrary.com]
Units generated (kWh)

12000000
25000
10000000
20000

USD
8000000
15000
6000000
10000
4000000
2000000 5000

0 0
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
Life of plant (Years)
Generation from FSPV Generation from Land based PV Profit of FSPV

F I G U R E 1 5 Cost savings from land and 600000

agriculture [Colour figure can be viewed at
wileyonlinelibrary.com] 500000

400000
USD

300000

200000

100000

0
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25
Life of the plant (years)
Income from agriculture Land cost

3 | CO NC LUSIO N resources to gain sustainable development. Different types of PV

As the primary energy resources have become limited in nature,
renewable energy based energy generation is gaining importance in
most parts of the world. The conventional energy resources are also
showing a rapid impact on climate change. Thus to minimize the envi-
ronmental impact we need to select and use renewable energy
technologies occupy a major part of renewable market share. How-
ever, rapid utilization of the PV technologies, especially in modern cit-
ies occupying large land spaces, hampers the urbanization growth.
Further, the large PV power plant also shows significant heat islanding
effect in modern cities. Thus floating solar power plant is one of the
best alternative options to use PV technology on unutilized water
14 of 15
bodies in floating manner. Evaporation of water, conservation of
water, preservation of existing ecosystems, improvement of water
quality and prevention from algal bloom are minimized by floating PV
which helps in maintaining ecological balance. After the techno-
economic feasibility study, it is seen that the levelized tariff is lower
than the PV ground mounted system. The problem of land acquisition
is also solved. FSPV also helps to save agricultural land and checks
evaporation of water. Taking into account the revenue from crops,
the saving in water cess, the savings in land cost, the cost of floating
structures and the improved generation capacity of FSPV, the total
financial savings for 10 MWp FSPV project over ground mounted
solar is works out to USD 1658735. This results in reducing the
levelized tariff of the FSPV and making it 39% cheaper than the gro-
und mounted solar power plant. Thus the proposed floating solar
power plant has an immense potential in becoming a perfect alterna-
tive source of solar power generation which can be applied across the
globe to solve energy crisis.
ORCID
Anik Goswami https://orcid.org/0000-0002-1399-0424
RE FE R ENC E
1. Al-Ghussain L. Global warming: review on driving forces and mitiga-
tion. Environ Prog Sustain Energy. 2018;38(1):1-29.
2. V. Arun Kumar, M. Rashmitha, B. Naresh, J. Bangararaju, V. Rajagopal,
Performance analysis of different Photovoltaic Technologies, IEEE
International Conference on Advanced Electronics Systems (ICAES),
978–1- 4799–1441-8/13/, 2013.
3. Rahman MM, Hasanuzzaman M, Rahim NA. Effects of various param-
eters on PV-module power and efficiency. Energ Conver Manage.
2015;103:348-358.
4. Padmavathi K, Daniel SA. Performance analysis of a 3MWp grid con-
nected solar photovoltaic power plant in India. Energy Sustain Dev.
2013;17(6):615-625.
5. Tripathi L, Mishra AK, Dubey AK, Tripathi CB, Baredar P. Renewable
energy: an overview on its contribution in current energy scenario of
India. Renew Sustain Energy Rev. 2016;60:226-233.
6. Solangi KH, Islam MR, Saidur R, Rahim NA, Fayaz H. A review on
global solar energy policy. Renew Sustain Energy Rev. 2011;15(4):
2149-2163.
7. CEA, 2018. Annual report, 2017–2018 of central electricity authority,
pp. 55–56. Central Electricity Authority, Government of India, New
Delhi. www.cea.nic.in/reports/annual/annualreports/draft_annual_
report-2018.pdf
8. Kapoor K, Pandey KK, Jain AK, Nandan A. Evolution of solar energy
in India: a review. Renew Sustain Energy Rev. 2014;40:475-487.
9. Sharma A. A comprehensive study of solar power in India and world.
Renew Sustain Energy Rev. 2011;15(4):1767-1776.
10. Ministry of Power. Tariff policy 2006. New Delhi, India: Government
of India; 2006.
11. Sharma P, Bojja H, Yemula P. Techno-economic analysis of off-grid
rooftop solar PV system. 2016 IEEE 6th international conference on
power systems (ICPS). New Delhi: India: IEEE. 2016:1-5.
12. Jain A, Vu T, Mehta R, Mittal SK. Optimizing the cost and perfor-
mance of parabolic trough solar plants with thermal energy storage in
India. Environ Prog Sustain Energy. 2013;32(3):824-829.
GOSWAMI ET AL.
13. Chauhan A, Saini RP. Techno-economic feasibility study on integrated
renewable energy system for an isolated community of India. Renew
Sustain Energy Rev. 2016;59:388-405.
14. Movahediyan Z, Askarzadeh A. A multiobjective approach for design
of an off-grid PV/diesel system considering reliability and cost. Envi-
ron Prog Sustain Energy. 2018. https://doi.org/10.1002/ep.13101
15. Al-Ghussain L, Taylan O, Samu R, Fahrioglu M. Techno-economic
analysis of photovoltaic-hydrogen fuel cell/pumped hydro storage
system for micro grid applications: case study in Cyprus. 2018 inter-
national conference on photovoltaic science and technologies (PVCon).
Ankara, Turkey: IEEE; 2018:1-6.
16. Ataei A, Biglari M, Nedaei M, et al. Techno-economic feasibility study
of autonomous hybrid wind and solar power systems for rural areas
in Iran, a case study in M oheydar village. Environ Prog Sustain Energy.
2015;34(5):1521-1527.
17. Farahi S, Fazelpour F. Techno-economic assessment of employing
hybrid power system for residential, public, and commercial buildings
in different climatic conditions of Iran. Environ Prog Sustain Energy.
2018;38(2):614-623.
18. Al-Ghussain L, Taylan O, Baker DK. An investigation of optimum PV and
wind energy system capacities for alternate short and long-term energy
storage sizing methodologies. Int J Energy Res. 2019;43(1):204-218.
19. Jeyaprabha SB, Selvakumar AI. Optimal sizing of photovoltaic/-
battery/diesel based hybrid system and optimal tilting of solar array
using the artificial intelligence for remote houses in India. Energ Build-
ings. 2015;96:40-52.
20. Rashid S, Rana S, Shezan SKA, Karim SAB, Anower S. Optimized
design of a hybrid PV-wind-diesel energy system for sustainable
development at coastal areas in Bangladesh. Environ Prog Sustain
Energy. 2017;36(1):297-304.
21. Al-Ghussain L, Ahmed H, Haneef F. Optimization of hybrid PV-wind
system: case study Al-Tafilah cement factory, Jordan. Sustainable
Energy Technologies and Assessments. 2018;30:24-36.
22. Hairat MK, Ghosh S. 100 GW solar power in India by 2022–a critical
review. Renew Sustain Energy Rev. 2017;73:1041-1050.
23. Trapani K, Santafe MR. “A review of floating photovoltaic
installations,” 2007 – 2013. Prog Phtovolt Res Appl. Dec. 2014;23(4):1-9.
24. Sharma AK, Kothari DP. Floating solar PV potential in large reservoirs
in India. Int J. 2016;2:97-101.
25. Barron-Gafford GA, Minor RL, Allen NA, Cronin AD, Brooks AE,
Pavao-Zuckerman MA. The photovoltaic Heat Island effect: larger
solar power plants increase local temperatures. Sci Rep. 2016;6, Arti-
cle 35070.
26. Dash PK, Gupta NC. Effect of temperature on power output from dif-
ferent commercially available photovoltaic modules. Int J Eng Res
Appl. 2015;5:148-151.
27. Choi Y-K. A study on power generation analysis of floating PV system
considering environmental impact. Int J Software Eng Appl. 2014;8(1):
75-84.
28. Liu L, Wang Q, Lin H, Li H, Sun Q. Power generation efficiency and
prospects of floating photovoltaic systems. Energy Procedia. 2017;
105:1136-1142.
29. Majid ZAA, Ruslan MH, Sopian K, Othman MY, Azmi MSM. Study on
performance of 80 watt floating photovoltaic panel. J Mech Eng Sci.
Dec. 2014;7:1150-1156.
30. Trapani K, Millar DL. Floating photovoltaic arrays to power the mining
industry: a case study for the McFaulds lake (ring of fire). Environ Prog
Sustain Energy. 2016;35(3):898-905.
31. Paritosh S, Bharat M, Debojyoti S. Design parameters of 10kw float-
ing solar power plant. Int Adv Res J Sci Eng Technol. 2015;2:85-89.
32. India Weather | WorldWeatherOnline.com, Worldweatheronline.com,
2017. https://www.worldweatheronline.com/lang/en-in/bakreswar-
weather averages/west-bengal/in.aspx. Accessed May 5, 2017
33. MNRE. Solar Radiation Handbook. New Delhi: Ministry of New and
Renewable Energy. Government of India; 2017.
GOSWAMI ET AL.
34. Padmavathi K, Daniel SA. Performance analysis of a 3 MWp grid con-
nected solar photovoltaic power plant in India. Energy Sustain Dev.
2013;17(6):615-625.
35. TERI. Technical manual for banks & FIs on grid-connected rooftop solar
power. New Delhi: Ministry of New and Renewable Energy, Govern-
ment of India; 2015.
36. CERC. Terms and conditions for tariff determination from renewable energy
sources, regulations, 2017. New Delhi: Central Electricity Regulatory
Commission. Ministry of Power, Government of India; 2017.
37. M. W. Rahman, M. S. Mahmud, R. Ahmed, M. S. Rahman, M. Z. Arif,
Solar lanes and floating solar PV: new possibilities for source
of energy generation in Bangladesh, Paper presented at: 2017
Innovations in Power and Advanced Computing Technologies
(i-PACT), Vellore, pp. 1–6, 2017
38. Han X, Liang Y, Ai Y, Li J. Economic evaluation of a PV combined
energy storage charging station based on cost estimation of second-
use batteries. Energy. 2018;165:326-339.
39. J. J. Gozalvez, P. S. F. Gisbert, C. M. F. Gisbert, M. R. Santafe,
F. J. S. Romero, J. B. T. Soler, E. P. Puig, Covering reservoirs with a
system of floating solar panels: technical and financial analysis, Paper
presented at: 16th International Conference on Project Engineering:
Valencia, pp. 177–187, July 2012.
40. Gisbert CF, Gozálvez JJF, Santafé MR, Gisbert PF, Romero FJS,
Soler JBT. A new photovoltaic floating cover system for water reser-
voirs. Renew Energy. May 2013;60:63-70.
41. Okoye CO, Oranekwu-Okoye BC. Economic feasibility of solar PV
system for rural electrification in sub-Sahara Africa. Renew Sustain
Energy Rev. 2018;82:2537-2547.
15 of 15
42. CERC, 2018. Report on Short-term Power Market in India: 2017-18.
Central Electricity Regulatory Commission, New Delhi: Government of
India. www.cercind.gov.in/2018/MMC/AR18.pdf
43. Williges K, Lilliestam J, Patt A. Making concentrated solar power com-
petitive with coal: the costs of a European feed-in tariff. Energy Policy.
2010;38(6):3089-3097.
44. DLLRO, Birbhum, Birbhum.gov.in. http://www.birbhum.gov.in/DLLRO/
dllro.htm. Accessed September 25, 2017
45. RKVY, 2017. West Bengal State Agriculture Plan. NABARD Consul-
tancy Services (NABCONS) on behalf of Agriculture Department,
Government of West Bengal.
46. CWC. Evaporation control in reservoirs. Basin Planning & Management
Organisation. New Delhi: Central Water Commission; 2011.
47. CPCB 2003. The Water (Prevention and Control of Pollution)
Cess (Amendment) Act, 2003. Central Pollution Control Board.
Ministry of Environment, Forest & Climate Change, Government
of India.
How to cite this article: Goswami A, Sadhu P, Goswami U,
Sadhu PK. Floating solar power plant for sustainable
development: A techno-economic analysis. Environ Prog
Sustainable Energy. 2019;e13268. https://doi.org/10.1002/ep.
13268