Optimized profitability of LFP and NMC Li-ion batteries in residential PV applications

Ayuso, Pablo; Beltrán, Héctor; Segarra-Tamarit, Jorge; Pérez, Emilio

doi:10.1016/j.matcom.2020.02.011

Cited by 25 publications

(12 citation statements)

References 36 publications

(42 reference statements)

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“…There are already studies in the literature by various authors that determine the optimal battery and or PV system size in terms of economic efficiency [10,13,22,27,30,31,40]. It is difficult to compare the results directly with each other and the findings of this paper, because in all studies different battery and PV system costs, a different feed-in tariff or grid electricity purchase price were assumed.…”

Section: Discussionmentioning

confidence: 99%

“…While Ried et al [35] for example focus on the resolution of the load curve, others [13,18,29,[36][37][38][39] examine the influence of different load curves and consumptions on the design and profitability of the systems. While a majority of the studies is based on simulations (Table 1), there are some authors that use exact methods such as MILP [16,40,41] or genetic algorithms [26]. A majority of the papers investigate the influence of different sized PV systems or battery storage systems.…”

Section: Literature Reviewmentioning

confidence: 99%

“…However, in many studies only fixed parameters are used for ageing and no actual ageing model is applied. Studies, that use an actual ageing model for battery ageing and in which Li-ion batteries are applied, are [9,12,14,16,21,26,40,[49][50][51][52]. While the aforementioned studies also consider the economics of the systems, Sandelic et al [53] and Beltran et al [54] also use an aging model for LIB, but their studies are mainly aimed at identifying and maximizing the lifetime of the battery and power electronics.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Studies, in which the dimensioning of PV storage systems is investigated and a more complex charging strategy is used at the same time, are rather few. For example, the studies by [15,28,33,36,40,48,49,54] consider more complex charging strategies. Table 1 shows how these differ from each other.…”

Section: Literature Reviewmentioning

confidence: 99%

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Influence of Efficiency, Aging and Charging Strategy on the Economic Viability and Dimensioning of Photovoltaic Home Storage Systems

et al. 2021

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PV in combination with Li-ion storage systems can make a major contribution to the energy transition. However, large-scale application will only take place when the systems are economically viable. The profitability of such a system is not only influenced by the investment costs and economic framework conditions, but also by the technical parameters of the storage systems. The paper presents a methodology for the simulation and sizing of PV home storage systems that takes into account the efficiency of the storage systems (AC, DC standby consumption and peripheral consumption, battery efficiency and inverter efficiency), the aging of the components (cyclic and calendar battery aging and PV degradation), and the intelligence of the charging strategy. The developed methodology can be applied to all regions. In this paper, a sensitivity analysis of the influence of the mentioned technical parameters on the dimensioning and profitability of a PV home storage is performed. The calculation is done for Germany. Especially, battery aging, battery inverter efficiency and a charging strategy to avoid calendar aging have a decisive influence. While optimization of most other technical parameters only leads to a cost reduction of 1–3%, more efficient inverters can save up to 5%. Even higher cost reductions (more than 20%) can only be achieved using batteries that age less, especially batteries that are less sensitive to calendar aging. In individual cases, a small improvement in the efficiency of the storage system can also lead to higher costs. This is for example the case when smaller batteries are combined with a large PV system and the battery is used more due to the higher efficiency. This results in faster ageing and thus earlier replacement of the battery. In addition, the paper includes a detailed literature overview on PV home storage system sizing and simulation.

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Section: Discussionmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

See 2 more Smart Citations

Influence of Efficiency, Aging and Charging Strategy on the Economic Viability and Dimensioning of Photovoltaic Home Storage Systems

et al. 2021

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“…The effects of load forecast errors were studied in [9] by Koponen et al, where different error criteria were compared. The profitability of BESSs in residential use with PV has been studied (e.g., [10][11][12]). Sizing of the BESS is very important when aiming for the highest possible profit and high profitability; sizing from an economic perspective has been studied (e.g., [2,[13][14][15][16]).…”

Section: Introductionmentioning

confidence: 99%

Using Load Forecasting to Control Domestic Battery Energy Storage Systems

2020

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The profitability of domestic battery energy storage systems has been poor and this is the main barrier to their general use. It is possible to increase profitability by using multiple control targets. Market price-based electricity contracts and power-based distribution tariffs alongside storage of surplus photovoltaic energy make it possible to have multiple control targets in domestic use. The battery control system needs accurate load forecasting so that its capacity can be utilized in an optimally economical way. This study shows how the accuracy of short-term load forecasting affects cost savings by using batteries. The study was conducted by simulating actual customers’ load profiles with batteries utilized for different control targets. The results of the study show that knowledge of customers’ load profiles (i.e., when high and low peaks happen) is more important that actual forecast accuracy, as measured by error criteria. In many cases, the load forecast based on customers’ historical load data and the outdoor temperature is sufficient to be used in the control system, but in some cases a more accurate forecast can give better cost savings.

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Influence of the Intraday Electricity Market Structure on the Degradation of Li‐Ion Batteries Used to Firm Photovoltaic Production

et al. 2022

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This article considers the introduction of Li‐ion batteries in photovoltaic power plants to firm their energy production and analyzes the dependence of their degradation on the structure of the electricity market where the power production is traded. The operation of the batteries is decided as a result of successive optimization problems that benefit from the use of deep‐learning‐based irradiance forecasting tools with low prediction error, which allows the batteries to keep a small size. In addition, state‐of‐the‐art battery aging models are handled to derive a realistic lifetime prognosis. The simulation results obtained by using real data from three European locations, which have different irradiance patterns and market structures, show how the proposed control strategy makes it possible to decouple the saturation rate of the batteries from the climatic conditions of the plant location. Furthermore, regarding the market structure, the results show that the shorter the energy block and the closer the lead time, the lower is the degradation of the batteries.

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Optimized profitability of LFP and NMC Li-ion batteries in residential PV applications

Cited by 25 publications

References 36 publications

Influence of Efficiency, Aging and Charging Strategy on the Economic Viability and Dimensioning of Photovoltaic Home Storage Systems

Influence of Efficiency, Aging and Charging Strategy on the Economic Viability and Dimensioning of Photovoltaic Home Storage Systems

Using Load Forecasting to Control Domestic Battery Energy Storage Systems

Influence of the Intraday Electricity Market Structure on the Degradation of Li‐Ion Batteries Used to Firm Photovoltaic Production

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