Sensitivity analysis of stand alone PV systems

Daily solar insulation is stochastic quantity. Therefore there is always a risk for a stand alone PV system not to meet the load, loads fed by PV systems widely vary by the importance. Therefore there should be different risk level for different loads, eg the loss of load risk (LOLR) level for rural house could be much less than that for telecommunication installation. Risk reduction is always accompanied by cost increase. This paper introduces a simple method to assess LOLR with least costs which can lead to better PV system design.