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Abstract

This paper is devoted towards life cycle economic analysis (LCEA) of a solar photovoltaic (PV) powered tri-cycle. The paper is meant to propose a more systematic approach in determining the optimum use of scarce resources in order to determine the most cost-effective option of the solar tri-cycle. This analysis is based on the life cycle cost of this solar vehicle, involving its comparison with the customary fuel-based tri-cycle which exhibits the relatively less expenditure of the solar alternative. The economic analysis takes into account the fact that over 20 years, the overall price of solar component, replacement and electricity charges, is much lower as compared to that of a fuel-based tri-cycle in India taking into consideration the fuel cost, maintenance and annual inflation over the same period.
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