Techno-economic feasibility analysis of an on-grid IOT-based rooftop solar photovoltaic system for prosumers with a real-time implementation: a detailed case study and analysis using HOMER software

Tamil Nadu, a state in India, has many households with loads between 1 kW and 2.5 kW and a single-phase power supply of 230V, 50Hz. The bi-monthly energy consumption of these categories of houses crosses the band of 500 units, which leads to the excess payment of energy consumption costs. To utilize the plenty of renewable energy available in this state, we conducted a feasibility analysis to develop the optimal solar PV system for these types of households using HOMER software. Over the years from 2016 to 2018, real-time data from 500 residences in Tirumangalam, Madurai District, Tamil Nadu, were gathered and utilized to design an optimal solar PV system for these households. On completion of the sensitivity analysis, the lowest Cost of Energy (COE), Net Present Cost (NPC), and Annual Operating and Maintenance Costs are $0.104, $158.36, and $4,389.76, respectively. An optimal 2kW on-grid Internet of Things (IoT)-based solar PV system is installed in 2019 for a residential building employed in the HOMER results, and the outcomes are compared to those without solar PV systems. It is been proven that adding a 2kW solar PV system leads to an average annual savings of $79.02 for the study period of 2019 to 2022.