In this paper, modeling and simulation of 1MW grid connected PV system is simulated using National Renewable Energy Laboratory's (NREL) HOMER software, and the optimum system is analyzed to see the economic feasibility of the system in a small industry area in Malacca, Malaysia. The system is expected to foresee reduced grid energy consumption. Emphasis is also placed on reduction of green house gases emission. HOMER will simulate the system and perform optimization of system according to the available usage data and the available renewable energy (sun radiation) data. The lifecycle and cost of each system modules will also affect the optimization duly. In addition, HOMER also performs optimizations according to different assumption of uncertain factors to gauge the effect of sensitivity list.

Consistent and inexpensive energy access is pivotal for human development and sustainable living standard. Pakistan is facing a huge gap in the demand and supply of energy which is brewing since 2007. This study analysed the factor influencing the households’ willingness to pay for the alternative energy source. Using a world bank data, collected from 8500 households our study presented the findings of the ordered logit model. Our results indicate that there exists a positive willingness to pay for energy alternatives for socio-economic characteristics and energy attributes. Besides, it indicates the affordability and cost-saving factor of potential alternative significantly influence the WTP for the alternative energy source. We suggested the policymakers to make policies to encourage the invention of the affordable energy products that result in reliable and long-running energy alternatives. Similarly, the financial assistance in the form of easily accessible loans, subsidies, and attractive instalments for the energy products.

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