John Lespasio

Sylvain Dally

I- Introduction

II-Generality

1-Theory

2- Technology

3- Resource

III- Economic analysis

1- Cost

2- Production

3- Benefits & Payback period

4- Additional factors

IV- Conclusion

Solar Energy in Iceland - Economic aspects 2

Why Solar energy?

Solar Energy in Iceland - Economic aspects 3

Solar Energy in Iceland - Economic aspects 4

Sunlight electricity

Tracking :

Solar Energy in Iceland - Economic aspects 5

Cell technology :

Solar energy available on Earth:

17,800,000 TWh

Human consumption in 2004:

16,600 TWh

Sunlight in Iceland :

(2011)

Solar Energy in Iceland - Economic aspects 6

Domestic Industrial Industrial

Power 6 kW 300 kW 100 MW

Place roof roof ground

Price (France) (€/kWh) 0.42 0.22 0.12

Price (Iceland) (ISK/kWh) 16 7 7

Total cost 20 k€ 850 k€ 200 M€

Cost of 1W ~6€ 2.5~3€ ~2€

Solar Energy in Iceland - Economic aspects 7

* 1 € = 167 ISK * 1 ISK = 0.006 €

PVGIS :

http://re.jrc.ec.europa.eu/pvgis/apps4/pvest.php#

Solar Energy in Iceland - Economic aspects 8

Over 1 year 6kW 300kW 100MW

Iceland Power (kWh) 4490 224k 74,8M

Irradiation(kWh/m²) 966

France Power (kWh) 7000 350k 117M

Irradiation(kWh/m²) 1550

Country Size 6 kW 300 kW

(ind. price) 100 MW

(ind. price) 300 kW

(dom. price) 100 MW

(dom price) 100 MW (dom

price + tracking)

France Benefits (€/year) 2,940 77,000 25,740,000 / / /

Payback period (year) 6.8 11.0 7.8 / / /

Iceland Benefits (€/year) 431 9,408 3,141,600 21,504 7,180,800 10,272,000

Payback period (year) 46.4 90.3 63.7 39.5 27.9 24.5

Solar Energy in Iceland - Economic aspects 9

Country Size 6 kW 300 kW

(ind. price) 100 MW

(ind. price)

France Benefits (€/year) 2,940 77,000 25,740,000

Payback period (year) 6.8 11.0 7.8

Iceland Benefits (€/year) 431 9,408 3,141,600

Payback period (year) 46.4 90.3 63.7

Country Size 6 kW 300 kW

(ind. price) 100 MW

(ind. price) 300 kW

(dom. price) 100 MW

(dom price)

France Benefits (€/year) 2,940 77,000 25,740,000 / /

Payback period (year) 6.8 11.0 7.8 / /

Iceland Benefits (€/year) 431 9,408 3,141,600 21,504 7,180,800

Payback period (year) 46.4 90.3 63.7 39.5 27.9

0

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6 kW 300 kW (wholesale price) 100 MW (wholesale price)

Payback p

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year)

France

Iceland

0

20

40

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100

6 kW 300 kW (household price) 100 MW (household price)

Payback p

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year)

France

Iceland

0

20

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6 kW 300 kW (household price) 100 MW (h. price + Tracking)

Payback p

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year)

France

Iceland

Maintenance

~10% of benefits

Influence of weather conditions

Snow

Varied duration of sunlight

Rain

Low temperatures

Solar Energy in Iceland - Economic aspects 10

Not a economically viable solution in Iceland

Possible improvements?

Help from government

Seasonal modes

Coupling with geothermal energy

Solar Energy in Iceland - Economic aspects 11

Solar Energy in Iceland - Economic aspects 12