Abstract
•Comparison of the overall efficiencies of the conventional PV and the water based PVT-PCM panels.•Analysis of the yearly useful thermal energy, useful electrical energy and useful equivalent thermal exergy.•Analysis of embodied energy, energy payback time and lifecycle conversion efficiency.•Investigation of the Uniform end -of -year annual Cost and the Cost of DC electrical energy production.
An investigation on PVT-PCM/water system has been carried out under the weather conditions at Kottayam (9.5425 °N, 76.8202 °E), India. In the present paper, experimentations have been done to compare the overall performance of PV and water-based PVT-PCM panels. The PVT-PCM/water system has been analysed under various outdoor environmental conditions and it has been recorded that the integration of PCM contributed to an improved thermal and overall efficiency of 26.87% and 40.59% respectively, along with a rise in electrical efficiency by 17.33% compared with conventional PV panel. It has been found that the payback time for the water-based PVT-PCM system is about 6 years on the overall exergy basis, which is 11.26% shorter compared to conventional PV panels. Also, the water-based PVT-PCM system has long-term lifecycle conversion efficiency compared to conventional PV panel by about 27%.