Into a cooler future with electricity generated from solar photovoltaic

Area of Science:

• Energy Systems Analysis
• Renewable Energy Economics
• Climate Change Mitigation

Background:

• Global cooling demand is rapidly increasing, particularly in tropical nations, driven by economic growth.
• This surge necessitates significant investment in new electricity generation capacity.
• The temporal alignment between cooling needs and solar photovoltaic (PV) generation presents a potential synergy, but its economic implications are uncertain.

Purpose of the Study:

• To evaluate the cost-effectiveness of solar PV investments for meeting cooling-driven electricity demand.
• To analyze the role of solar PV under different carbon dioxide (CO2) emission targets across seven diverse regions.
• To determine if increased cooling demand enhances or diminishes the economic viability of solar PV.

Main Methods:

• Utilized a capacity expansion model to simulate electricity generation investments.
• Assessed cost-effectiveness across seven distinct geographical regions.
• Incorporated various CO2 emission reduction targets into the modeling framework.

Main Results:

• Solar PV emerged as a dominant source for new electricity generation capacity, meeting 64% to 135% of the additional cooling demand.
• Powering electric cooling primarily with solar PV proved more economical than supplying electricity for other demands.
• The economic viability of solar PV is enhanced by the growing demand for cooling.

Conclusions:

• Solar PV is poised to become a foundational element of future electricity systems, especially for meeting cooling loads.
• Strategic investments in solar PV are essential for sustainable development and climate change mitigation in rapidly developing tropical economies.
• The synergy between cooling demand and solar PV production offers a pathway to cost-effective and low-carbon energy systems.