Economic and financial comparison between the use of photovoltaic solar modules and tiles for energy production in a milk producing farm with an irrigated pasture system. (7th March 2023)

• Record Type: Journal Article
• Authors: Martins, Lucas Carvalho; Teodoro, Bárbara Caroline Martins
• Is Part Of: Latin American journal of management for sustainable development. Volume 5:Number 4(2023)
• Page Start: 370
• Page End: 386
• Publication Date: 2023-03-07
• Subjects: photovoltaic -- electricity -- feasibility analysis -- investment -- projects; 338.9807
• Languages: English
• ISSNs: 2052-0336

Abstract

This paper aims to compare the economic viability of using photovoltaic modules and photovoltaic tiles to produce electricity on a farm that uses pasture irrigation for milk production in the interior of Minas Gerais. The study employed financial mathematics techniques to test the hypotheses. The studies carried out for the choice of implantation showed that in ten years, the implantation of the photovoltaic modules resulted in NPV, IRR, and discounted payback, respectively, of R$2, 485.10, 7%. Seven years, already in consideration of photovoltaic solar tiles, were found to have negative NPV and IRR, and in the ten years, there was no return on investment. The energy production system by photovoltaic modules was economically viable since the application of the energy system with photovoltaic solar tiles proved to be unfeasible. The main reason is a new technology in the market with a smaller scale production than photovoltaic modules making the product more expensive.