Toward sustainable power with floating solar at Near East University Lake, Northern Cyprus

Floating solar photovoltaic (FPV) systems have become a desirable research topic for optimization and development. The primary objective of the current study is to optimize an FPV at Near East University Lake in Northern Cyprus, aiming to enhance energy production and mitigate negative environmental impacts. Besides, the potential for energy generation and economic feasibility of various design configurations related to fixed and tracked PV systems and coverage area (45, 60, 75, and 90%) were investigated. The results demonstrated that the increase in coverage area indeed increased energy yield due to the increase in the number of panels. The 90% coverage area, for instance, reduces the cost of energy production to 0.0176 USD/kWh and produces a very respectable increase in energy yield. According to the techno-economic analysis, the reduction of GHG emissions can range from 330 to 659 tCO2/year, depending on the coverage area. The value of NPV demonstrates the system’s long-term sustainability and profitability, while the basic payback period remains relatively consistent across all coverage percentages, ranging from 3.19 to 3.20 years. Thus, this research provides valuable insights into how floating solar technology can be integrated with water conservation and sustainable energy production, which can greatly aid in achieving renewable energy targets and reducing water evaporation losses.