Applicability of solar energy in Siirt province: Examination of environmental and economic effects

This study evaluates the solar energy potential of Siirt province using an example and examines the feasibility of solar power plant investments in the region with economic and environmental dimensions. In the study, similar projects are analyzed by literature review and data are collected through contacts with some companies in the solar energy sector. In addition, a comparison is made between interest investment and solar power plant investment. In case the principal in solar power plant investment is invested in interest, how many times the principal will increase with the accumulated compound interest over the years is examined. It is determined that there is a negative relationship between real interest rates and amortization period and that solar power plant projects can be more profitable even if the amortization period is extended as the interest rates are lower. Afterwards, a hypothetical 10-year SPP feasibility analysis was carried out for Siirt province. Economic analyses show that a 1 MW solar power plant investment can pay for itself in approximately 4 years and provide profit in the long term. When the environmental impacts in the analysis were evaluated, it was determined that carbon emissions in the region would be significantly reduced thanks to the use of solar energy. It is estimated that approximately 1,499,572.6 kg of CO₂ emissions can be prevented annually compared to thermal power plants. This will contribute to the sustainable development of Siirt and the transition to a green economy. As a result, this study shows that the evaluation of Siirt's solar energy potential offers a critical opportunity in terms of both economic and environmental sustainability. This study is an important resource for researchers and investors who want to evaluate Siirt's renewable energy potential.