Comprehensive economic evaluations of a residential building with solar photovoltaic and battery energy storage systems: An Australian case study

Akter, M. N.; Mahmud, M. A.; Oo, Amanullah M. T.

doi:10.1016/j.enbuild.2016.12.065

Cited by 77 publications

(44 citation statements)

References 30 publications

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“…In our study, we assumed that the PV panels are installed once and then used for the whole observation period of 20 years. This is consistent with previous studies, all of which assumed a lifetime of 20 years or longer for PV panels [30,32,34,36,39,44]. In addition, the legally guaranteed remuneration period amounts to 20 years [68].…”

Section: Parameter Values Of Core Components Capital Expendituresupporting

confidence: 91%

“…However, some work is limited to the consideration of PV systems only [31,33,37]. Other research which also considers PV and BES models focusses on countries and markets outside Germany, such as Australia [30], Italy [32,34], Sweden [44] and UK [42]. Moreover, previous studies usually only consider one single household size [36] or assume (partially) already installed systems [39].…”

Section: Literature Reviewmentioning

confidence: 99%

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Optimisation of photovoltaic and battery systems from the prosumer-oriented total cost of ownership perspective

2019

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Background: In the context of the German energy transition, the number of domestic households covering part of their electricity consumption from their own photovoltaic system is constantly increasing. Some even use battery storage systems to store excess power for later use, which increases the degree of self-sufficiency and, according to the providers of such systems, should yield financial advantages for the so-called prosumer. Methods: We used the Prosumer-Oriented Total Cost of Ownership method to analyse the financial possibilities for prosumers under German market conditions, and thus determined the economically optimal solution for different domestic household sizes. In order to obtain realistic results, we applied real data covering the weather (relevant for the generation of electricity), consumption patterns, investment and operating costs, prices and revenues. If behavioural aspects are set aside and pre-requirements (e.g. sufficient roof space) are met, our model provides guidance for investors and policy-makers alike. Results and conclusions: Our research shows that it is financially advantageous for all household sizes to operate the largest photovoltaic system possible for them (up to 10 kW p ). By contrast, our results show that the investment in a battery storage system does not pay off even when government subsidies are taken into account. Regardless of the size of the selected battery storage system and all other influencing variables, the financial advantages of such a system do not materialise, although a battery storage system does substantially increase the self-sufficiency rate.

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Section: Parameter Values Of Core Components Capital Expendituresupporting

confidence: 91%

Section: Literature Reviewmentioning

confidence: 99%

Optimisation of photovoltaic and battery systems from the prosumer-oriented total cost of ownership perspective

2019

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“…Critical variables are the demand of the households, self-consumption rates, investment costs and electricity prices [53]. The key-role of the savings in electricity bills and consequently the impact of self-consumption rates is investigated by the authors of [54].…”

Section: Literature Reviewmentioning

confidence: 99%

Solar Photovoltaic Panels Combined with Energy Storage in a Residential Building: An Economic Analysis

et al. 2018

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Renewable energy is a wide topic in environmental engineering and management science. Photovoltaic (PV) power has had great interest and growth in recent years. The energy produced by the PV system is intermittent and it depends on the weather conditions, presenting lower levels of production than other renewable resources (RESs). The economic feasibility of PV systems is linked typically to the share of self-consumption in a developed market and consequently, energy storage system (ESS) can be a solution to increase this share. This paper proposes an economic feasibility of residential lead-acid ESS combined with PV panels and the assumptions at which these systems become economically viable. The profitability analysis is conducted on the base of the Discounted Cash Flow (DCF) method and the index used is Net Present Value (NPV). The analysis evaluates several scenarios concerning a 3-kW plant located in a residential building in a PV developed market (Italy). It is determined by combinations of the following critical variables: levels of insolation, electricity purchase prices, electricity sales prices, investment costs of PV systems, specific tax deduction of PV systems, size of batteries, investment costs of ESS, lifetime of a battery, increases of self-consumption following the adoption of an ESS, and subsidies of ESS. Results show that the increase of the share of self-consumption is the main critical variable and consequently, the break-even point (BEP) analysis defines the case-studies in which the profitability is verified.

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“…In this sense, the life loss in the circulation can be equal to the cost of the BESS. In this work, a cost coefficient is used to build the relationship between the energy circulation and cost of BESS, which is shown in Equations (12) and (13). Thus the reasonable schedule of charge and discharge power will be beneficial to the life of BESS.…”

Section: (3) Life Loss Of Bessmentioning

confidence: 99%

“…The output voltage reference of every converter should follow the voltage droop characteristic defined with virtual impedance. The grid-forming converter in this system can be expressed as [13]:…”

Section: Adaptive Droop Control In the DC Distributed Power System (Nmentioning

confidence: 99%

Economic Power Schedule and Transactive Energy through an Intelligent Centralized Energy Management System for a DC Residential Distribution System

Yue

et al. 2017

Energies

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Direct current (DC) residential distribution systems (RDS) consisting of DC living homes will be a significant integral part of future green transmission. Meanwhile, the increasing number of distributed resources and intelligent devices will change the power flow between the main grid and the demand side. The utilization of distributed generation (DG) requires an economic operation, stability, and an environmentally friendly approach in the whole DC system. This paper not only presents an optimization schedule and transactive energy (TE) approach through a centralized energy management system (CEMS), but also a control approach to implement and ensure DG output voltages to various DC buses in a DC RDS. Based on data collection, prediction and a certain objectives, the expert system in a CEMS can work out the optimization schedule, after this, the voltage droop control for steady voltage is aligned with the command of the unit power schedule. In this work, a DC RDS is used as a case study to demonstrate the process, the RDS is associated with unit economic models, and a cost minimization objective is proposed that is to be achieved based on the real-time electrical price. The results show that the proposed framework and methods will help the targeted DC residential system to reduce the total cost and reach stability and efficiency.

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Comprehensive economic evaluations of a residential building with solar photovoltaic and battery energy storage systems: An Australian case study

Cited by 77 publications

References 30 publications

Optimisation of photovoltaic and battery systems from the prosumer-oriented total cost of ownership perspective

Optimisation of photovoltaic and battery systems from the prosumer-oriented total cost of ownership perspective

Solar Photovoltaic Panels Combined with Energy Storage in a Residential Building: An Economic Analysis

Economic Power Schedule and Transactive Energy through an Intelligent Centralized Energy Management System for a DC Residential Distribution System

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