Techno-Economic and Environmental Analysis of the Integration of PV Systems into Hybrid Vessels

Abstract

Solar energy is one type of clean energy resource, and currently the IMO, EU and UK are targeting net zero carbon emissions by 2050. This paper delves into the integration of photovoltaic (PV) systems into hybrid vessels in order to meet their strategies and targets. The technical challenges that come with designing such systems as well as their economic and environmental impacts are examined. By optimizing the usage of harnessed solar energy, we discover the operational strategy that provides maximal benefits through day-to-day savings as well as over the 25 year lifespan of solar panels. It demonstrates impressive economic viability, with cost savings of up to GBP 4.55 per day and a payoff period as short as 9 years. It also displays a modest emission reduction of up to 8.002 kg of CO2, which serves as proof for a pathway to greener practices in the maritime industry. This report highlights the operational flexibility that a hybrid vessel possesses once paired with a PV system through the ability to withstand regulatory and market changes. Also, when looking ahead, further adoption of PV technology creates opportunities for innovation in adopting renewable energy solutions in maritime transportation.