Economic Analysis of ODRC Solar Field Construction

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ENRAEDE4567_ODRCSolar_sp2024.pdf (2.25 MB)
ENRAEDE4567_ODRCSolar_sp2024_poster.pdf (2.33 MB)

Date

2024-05

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Research Projects

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Abstract

This report details research and comparative economic analysis on constructing a photovoltaic solar field at Ohio Department of Rehabilitation and Correctional (ODRC) facilities. The report contains a detailed preliminary screening process to establish which facilities are feasible for solar field implementation and construction. This includes the determination of investment tax credit eligibility, electricity consumption analysis, the use and results of photovoltaic modeling software, the use of Geographic Information Systems data to determine land availability and detailed research on current net metering regulations in Ohio. A financial model was developed to determine the capital and annual costs of photovoltaics to estimate the projected future cash flows at each facility. Net present value analysis was conducted to analyze the future cash flows of each facility to determine the ideal fit for a commercial-scale solar field.

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Course Code: AEDECON 4567

Keywords

Solar, Renewable Energy, Economic Analysis, Photovoltaic, Inflation Reduction Act, Carbon Emissions

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https://kb.osu.edu/handle/1811/104246

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Campus as a Living Laboratory Archive