Study of cost savings of using solar energy technology

Abstract

The objectives of this research were 1) to study the decision to install a solar power generation system, 2) to study the cost-benefit analysis of a solar power generation system installation project, and 3) to study the cost savings of using solar energy technology. The researcher used mixed methods research, including part 1, quantitative research by using survey research methods based on questionnaires with a confidence value of 0.920. It was a tool for collecting data from a sample of 120 people and part 2 qualitative research relied on in-depth interviews from 4 key informants from the business sector, industrial sector, agricultural sector, and household sector who had the authority to decide on the installation of a solar power generation system. The  research period started from January to August 2024. Data analysis used descriptive statistics. and content analysis. The results of the research found that 1) the decision to install a solar power generation system was based on the main costs related to materials and equipment used in the installation system and minor costs; 2) cost-benefit analysis started from the project scope - costs - monetary benefits, then compared with the results and analyzed the sensitivity of the investment and 3) Installing a solar power generation system could save costs, with the production sector having a payback period of approximately 5-15 years depending on the size of the installation and household sector from the average payback period of approximately 2 years.