Techno-economic analysis and cost-effectiveness of photovoltaic systems for restaurants in Macedonia

Advances in photovoltaic technology have improved efficiency and reduced costs, helping mitigate energy price volatility and fossil fuel dependence. These systems play a critical role in environmental protection by minimizing carbon emissions compared to fossil fuel-based power plants of similar capacity. This paper presents a techno-economic analysis for the installation of a photovoltaic (PV) system on an average restaurant in Macedonia. The objective is to determine the feasibility of a photovoltaic system for an average restaurant that procures electricity from the open market, with the goal of reducing the energy dependence of restaurants and encouraging investments in PV systems by these commercial entities. Such investments can significantly contribute to increasing domestic electricity production from renewable energy sources while reducing CO₂ emissions. The analysis is based on the electricity consumption of an average restaurant and electricity production from a PV system with a capacity of 40 kWp. By comparing the hourly electricity production from the photovoltaic system, obtained throughPV*SOL premium, with the hourly electricity consumption of the restaurant, derived from the standard load curve for restaurants, a techno-economic analysis was conducted in accordance with the forecasted electricity prices taken from the HUDX electricity exchange. Additionally, annual CO₂ emission reductions were calculated using PV*SOL premium, considering the system's lifetime and factoring in the 1% annual efficiency degradation of PV modules based on manufacturer specifications.Investments in PV systems for restaurants not only enhance energy efficiency and economic feasibility but also contribute significantly to sustainable development and reduced environmental impact.