Skip to main content

Research Repository

Advanced Search

Simulation and Economic Modelling of a Floating Solar Photovoltaic (FSPV) System using PVSyst

Dellosa, Jeffrey T.; Mendoza, Ronieto; Billones, Robert Kerwin C.; Sheng, Yong


Jeffrey T. Dellosa

Ronieto Mendoza

Robert Kerwin C. Billones


This paper examines the economic feasibility of implementing a Floating Solar Photovoltaic (FSPV) system in a Philippine Lake using the PVsyst simulation tool. The study involved a detailed simulation of the FSPV system's performance, considering various environmental and technical parameters. Key aspects such as system configuration, energy yield, and financial metrics including payback period and net present value were analyzed. Results indicate that the FSPV system could significantly contribute to local energy needs while proving to be a financially viable investment due to substantial reductions in CO2 emissions and lower energy costs compared to traditional power sources. According to assessments and simulations performed using PVSyst software, the FSPV system would possess a capacity of 10 kWp, with an expected available energy output of 13,599 kWh per year and an expected energy consumption of 12,940 kWh per year. The economic modeling of the FSPV system revealed a relatively short payback period of 4.8 years, with a net present value of Php 741,732.00 and a substantial return on investment of 227.5%. The Levelized Cost of Energy (LCOE) was estimated at Php 6.18 per kWh. The study underscores the potential of FSPV systems to meet the renewable energy needs of isolated communities by leveraging local water bodies for solar installations.


Dellosa, J. T., Mendoza, R., Billones, R. K. C., & Sheng, Y. (2024). Simulation and Economic Modelling of a Floating Solar Photovoltaic (FSPV) System using PVSyst. Journal of Electrical Systems, 20(5s), 758-777.

Journal Article Type Article
Acceptance Date Mar 30, 2024
Online Publication Date Apr 13, 2024
Publication Date Apr 30, 2024
Deposit Date May 11, 2024
Publicly Available Date May 14, 2024
Journal Journal of Electrical Systems
Peer Reviewed Peer Reviewed
Volume 20
Issue 5s
Pages 758-777
Public URL
Additional Information This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.


You might also like

Downloadable Citations