Optimization and Techno-Economic Assessment of 50 Mw Floating Solar Power Plant on Hakaluki Marsh Land in Bangladesh

The development of large-scale, ground-mounted photovoltaic power generation in areas with limited land is extremely difficult, especially in some countries where more than 1,100 people reside per square kilometre. Considering land's utilisation for food production, housing, and industrialisation a priority, floating solar photovoltaic (FSPV) systems, which involve mounting PV cells on a floating device on the surface of a water body, can provide a practical solution for both renewable power generation and the conservation of scarce land. Although some studies emphasise the potential benefits of FSPV, no comprehensive techno-economic and environmental study is reported in the open literature in the context of a country where landmass is nearly impossible to utilise for photovoltaic power generation. Hence, the article focuses on a techno-economic and environmental study of a 50 MW FSPV power plant for a marsh area in an extremely densely populated country using PVsyst simulation tools. The findings of the study show the levelized cost of energy (LCOE) of the 50 MW FSPV plant is US$ 0.051/kWh, which is a decent lower compared to US$ 0.087/kWh for fossil fuel-based power plants in the case study nation. Furthermore, the proposed FSPV offers reductions in CO2, water evaporation, and biodiversity conservation in marshlands.