Energy based techno-economic and environmental feasibility study on PV/T and PV/T heat pump system with phase change material—a numerical comparative study

A sustainable, affordable, and eco-friendly solution has been proposed to address water heating, electricity generation, space cooling, and photovoltaic (PV) cooling requirements in scorching climates. The photovoltaic thermal system (PV/T) and the direct expansion PV/T heat pump (PV/T DXHP) were numerically studied using MATLAB. A butterfly serpentine flow collector (BSFC) and phase change material (PCM) were assimilated in the PV system and MATLAB model was developed to evaluate the economic and enviroeconomic performance of the PV/T water system (PV/T-W), PV/T PCM water system (PV/T PCM-W), the PV/T DXHP system, and the PV/T PCM heat pump system (PV/T-PCM-DXHP). In this study, annual energy production, socioeconomic factors, enviro-economic indicators, and environmental characteristics are assessed and compared. Also, an economic, environmental, and enviro-economic analysis was conducted to assess the commercial viability of the suggested system. The PV/T PCM-DXHP demonstrated the highest electrical performance of 53.69%, which is comparatively higher than the other three configurations. The discounted levelized cost of energy (DLCOE) and payback period (DPP) of the PV/T PCM-DXHP were ₹2.87 per kW-h and 3–4 years, respectively, resulting in a total savings of ₹67,7403 over its lifetime. Furthermore, installing this system mitigated 280.72 tonnes of CO 2 emissions and saved the mitigation cost by ₹329,700 throughout its operational lifecycle. Graphical Abstract