Conventional fluid- and nanofluid-based photovoltaic thermal (PV/T) systems: a techno-economic and environmental analysis

ABSTRACT

In this study, the techno-economic impacts of nanofluids used as coolants to enhance the overall performance of a photovoltaic/thermal PV/T system, in comparison with conventional fluids, are discussed. A transient mathematical analysis was performed to evaluate the technical aspects and energy performance of the PV/T system. The proposed model is used to predict the annual thermal and electrical power outputs of a PV/T system based on CuO nanofluid, Al2O3 nanofluid, and conventional fluids. Economic and environmental analyses of the PV/T systems were performed by taking into account energy payback period, energy production factor, net CO₂ mitigation, and net CO₂ credit. Because of their greater energy unit area and levelized energy cost, nanofluid based PV/T systems have a lower payback period and better economic savings than those of conventional collectors. Using water, Al₂O₃ nanofluid, and CuO nanofluid, the net CO₂ mitigation and net CO₂ credit are 6.4 tons and 156.8 USD, 6.9 tons and 171.2 USD, and 7.4 tons and 181.6 USD, respectively, for 30 years life of the PV/T system. For typical industrial applications, PV/T systems with nanofluids should be considered as competitors to water-based PV/T collectors.

KEYWORDS:

• Environmental analysis
• mathematical model
• nanofluid
• PV/T system
• techno-economic analysis

Acknowledgments

This work was supported by Korea Research Fellowship Program through the National Research Foundation of Korea (NRF) funded by the Ministry of Science and ICT (2016H1D3A1938222); and Research Grant from Kongju National University through the Korea Agency for Infrastructure Technology Advancement funded by the Ministry of Land, Infrastructure and Transport of the Korean government (Project No.: 17TBIP-C124966-01).

Additional information

Funding

This work was supported by the Korea Agency for Infrastructure Technology Advancement [17TBIP-C124966-01];National Research Foundation of Korea [2016H1D3A1938222];