Abstract:
A significant portion of the cost of manufacturing in the industry is related to electrical power. An electrical system with a low power factor is typically less effective and may also be less profitable for end users and system operators. Therefore, power factor correction is essential for effective system performance and for lowering the cost of electricity. This paper presents a study on the technical and financial benefits of power factor improvement, which is supported by a real-world industrial load with a combination of a capacitor bank and a solar photovoltaic system. A load flow software is used to model and analyse the electrical system of the site with the dynamic loads. The capacitor bank’s connected duration is calculated by keeping track of the power factor, active power, and reactive power values during the day. The capacitor bank is sized to meet the reactive power needed at night. By examining the 24-hour solar irradiance data at the location, the solar system is designed to meet the peak active power consumption of the site. The voltage source converter coupled to the solar system is adjusted to produce the reactive power required to maintain the power factor during the day. The findings demonstrate that the suggested 40 kvar capacitor bank and 553 kW solar system successfully increase power factor by 39%. A simple payback period for the suggested system is six years, and it also results in monthly savings of 905806 LKR.
