Feasibility analysis and optimization of new energy technologies for sustainable development

Abstract

Energy is essential for crucial development in Africa. The current electricity shortages or load shedding in South Africa show the country faces significant challenges in reaching positive economic growth. For industries to operate sustainably, an innovative mechanism must be tailored to solve the negative impacts of industrial energy use, particularly climate change. Even though fossil fuels generate the majority of produced electricity in South Africa, the country’s potential for renewable energy sources is vast. In contrast, solar irradiance and wind offer considerable commercial potential. New renewable energy resources are widely seen as a means to address the challenges of climate change and energy insecurity. They can be of crucial importance in developing a sustainable economy in the country. The study aims to show how renewable energy technologies can provide new economic opportunities, contribute to higher standards of living, and reduce the impacts of society on ecosystems, among other things. This thesis presents a feasibility analysis and optimization of new energy technologies by designing and simulating a grid-connected PV system for sustainable development. The PVsyst software was used to simulate and optimize the PV system. The software was used to design and model the PV systems and to calculate the energy production, economic performance, and environmental impact. The researcher utilized simulation data to compare PV system performance in three scenarios and identify the optimal one. Overall, the findings of this thesis suggest that grid-connected PV systems are a feasible and sustainable option to meet South Africa's energy needs. By implementing the results and recommendations, the government, investors, and community can work together to develop and deploy a successful PV system that will benefit all.