In the sun-drenched coastal city of Alanya, Türkiye, a solar power plant has not only exceeded its energy production targets but also provided a blueprint for evaluating the economic efficiency of renewable energy investments. The project, implemented under an Energy Performance Contract (EPC) at Alanya Alaaddin Keykubat University, has set a precedent for public sector institutions looking to adopt renewable energy solutions.
The study, led by Adem Akbulut from the Energy Management and Sustainability Coordination at Alanya Alaaddin Keykubat University, was recently published in the journal *Energies*. Akbulut and his team focused on a 1710.72 kWp solar power plant, analyzing the effects of solar radiation, investment cost, and electricity sales price on unit production cost. Their findings reveal that the system surpassed the EPC contract target by 16.2%, producing 2,423,472.28 kWh in its first year and preventing 1168.64 tons of CO2 emissions.
The research employed a multiple linear regression model to predict the system’s performance, achieving a predictive error margin of 14.7%. This model offers a practical decision-support framework for policymakers and energy professionals, integrating operational data with economic analysis. “The model’s validity confirms that EPC applications can be both technically and economically viable,” Akbulut noted. “This is a significant step towards making renewable energy investments more predictable and attractive.”
The study’s novelty lies in its comparative assessment of planned, predicted, and actual outcomes, providing a comprehensive evaluation of the project’s success. By highlighting the technical, economic, and environmental benefits, the research underscores the potential of EPC applications in Türkiye’s public institutions.
For the energy sector, these findings could shape future developments by offering a robust methodology for evaluating renewable energy investments. As Akbulut explained, “Our approach can help stakeholders make informed decisions, ensuring that renewable energy projects are not only environmentally beneficial but also economically efficient.”
The study’s implications extend beyond Türkiye, offering valuable insights for countries looking to enhance their energy efficiency and adopt renewable energy solutions. By demonstrating the feasibility and benefits of EPC applications, the research paves the way for more sustainable and economically viable energy investments worldwide.