Methodology for the design optimization and the economic analysis of grid-connected photovoltaic systemsMethodology for the design optimization and the economic analysis of grid-connected photovoltaic systems Peer-Reviewed Journal Publication Δημοσίευση σε Περιοδικό με Κριτές 2015-10-252009enIn this study, a methodology for the design optimisation and the economic analysis of photovoltaic grid-connected systems (PVGCSs) is presented. The purpose of the proposed methodology is to suggest, among a list of commercially available system devices, the optimal number and type of system devices and the optimal values of the photovoltaic (PV) module installation details, such that the total net economic benefit achieved during the system operational lifetime period is maximised. The decision variables included in the optimisation process are the optimal number and type of the PV modules and the DC/AC converters, the PV modules optimal tilt angle, the optimal arrangement of the PV modules within the available installation area and the optimal distribution of the PV modules among the DC/AC converters. The economic viability of the resulting PVGCS configuration is explored according to the net present value, the discounted payback period and the internal rate of return methods. The proposed method has been applied for the optimal design of a PVGCS interconnected to the electric network of an island with significant solar irradiation potential and the corresponding optimal sizing and economic analysis results are presented.Δημοσίευση σε επιστημονικό περιοδικό http://creativecommons.org/licenses/by/4.0/IET Renewable Power Generation43 476-492 Kornelakis A. Koutroulis Eftychios Κουτρουλης Ευτυχιος Institution of Engineering and Technology photovoltaic power systems DC-AC power convertors power generation economics