Technical and Economic Study Progress!
This week, we tried to formulate a market analysis, in order to obtain a clearer understanding of the viability of our project in terms of financial returns as well as to obtain insights into the optimal approach for developing our prototype—identifying the most suitable components and determining the best support to utilize.
On one hand, this study will primarily concentrate on the Lisbon Metropolitan Area to leverage the data acquired from the analytical model. Therefore, we reached out to 10 companies with south-facing facades (the best direction for energy efficiency), in an effort to gather data on window dimensions and energy costs. However, as of now, we have not received any responses.
On the other hand, we sought out data concerning material costs and discovered European Union’s annual reports titled “Photovoltaics in European Union” for 2022 and 2023. By analyzing this data, we understood that the prices of both photovoltaic cells and DC-AC inverters have significantly decreased over the past few years, accompanied by a dramatic rise in cell efficiency.
Furthermore, the same report indicates that Portugal is among the European Union countries with the best conditions for utilization photovoltaic panels, given its high annual solar irradiation levels. Therefore, based on this data, it can be concluded that investment in this type of technology is indeed viable as a form of energy production.
Finally, we will persist in our efforts to acquire data from potential companies where our project could serve as an investment opportunity. Based on this data, we will conduct thorough analyses at both technical and economic levels.