Levelized-Cost-of-Electricity-Driven Design Optimization for Medium-Voltage Transformerless Photovoltaic Converters: Preprint

Design approaches for power electronics are typically focused on efficiency and power density; however, these strategies do not guarantee cost optimality in any well-defined sense. To overcome this shortcoming, we propose a design framework that yields circuit parameters that minimize the levelized cost of electricity (LCOE) of a generation system. LCOE serves as a meaningful metric since it captures total lifetime costs -- including hardware, balance of system, and maintenance costs\textemdash and includes the impacts of power conversion efficiency and revenue from harvested energy. To obtain a tractable design problem, we formulate an approximate LCOE improvement model that quantifies the changes in LCOE resulting from a candidate converter design. We apply this framework to a multilevel cascaded topology for low-voltage dc to medium-voltage ac conversion without line-frequency transformers. An example 200-kW commercial-scale system is studied and the solution yields a design with 15 cascaded stages, 98.89% efficiency, and an LCOE reduction of 3.6%.