Title: 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

Authors: Lucas Carvalho Martins; Bárbara Caroline Martins Teodoro

Addresses: School of Economics, Business and Accounting RP (FEARP), University of Sao Paulo (USP), Ribeirão Preto, São Paulo, Brazil ' School of Management and Business (FAGEN), Federal University of Uberlandia (UFU), Uberlândia, Minas Gerais, Brazil

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.

Keywords: photovoltaic; electricity; feasibility analysis; investment; projects.

DOI: 10.1504/LAJMSD.2022.129511

Latin American Journal of Management for Sustainable Development, 2022 Vol.5 No.4, pp.370 - 386

Received: 07 Jun 2022
Accepted: 16 Dec 2022
Published online: 10 Mar 2023 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article