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Table 11 Economic benefit analysis of the proposed grid-connected system compared to the base case off-grid system (Excel results)

From: Assessment of a decentralized grid-connected photovoltaic (PV) / wind / biogas hybrid power system in northern Nigeria

Analyzed parameters Specification
Calculated capital recovery factor (CRF) 0.0782
Net of NPC as benefit of the switch to the proposed grid-based system $34.96 M
Calculated annualized value of the benefit $2.73 M
Calculated payback period (PBP) 6.09 years
Discounted payback period (DPBP) 7.18 years
Calculated rate of return (ROI) 16.41%
Calculated internal rate of return (IRR) 16%