ABSTRACT
The costs of a PV system include acquisition costs, operating costs, maintenance costs and replacement costs. At the end of the life of a system, the system may have a salvage value or it may have a decommissioning cost. This chapter introduces the method of life cycle costing, which accounts for all costs associated with a system over its lifetime, taking into account the time value of money. Life cycle costing is used in the design of the PV system that will cost the least amount over its lifetime. Life cycle costing, in general, constitutes a sensible means for evaluating any purchase options.
