A Techno-Economic Analysis of a PV-Battery System in Greece

A techno-economic assessment has been carried out to evaluate the economic feasibility of energy self-consumption from a combination of photovoltaics and lead-acid batteries (PV-BAT). The Total annual economic cost (TAEC) and the cost per unit of energy were first calculated, from PV-BAT data collec...

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Bibliographic Details
Published in:Energies (Basel) 2019-04, Vol.12 (7), p.1357
Main Authors: Kosmadakis, Ioannis, Elmasides, Costas, Eleftheriou, Dimitrios, Tsagarakis, Konstantinos
Format: Article
Language:English
Subjects:
Acids
Alternative energy sources
Batteries
Biogas
Costs
Economic analysis
Electric power distribution
Electricity
electricity cost
Energy industry
Energy policy
energy storage
Fisheries
hybrid power
photovoltaics
Probability distribution
Regulation
renewable energy
self-consumption
Solar energy
Standard deviation
Sunlight
Sustainability
total annual economic cost
Uncertainty
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Summary:A techno-economic assessment has been carried out to evaluate the economic feasibility of energy self-consumption from a combination of photovoltaics and lead-acid batteries (PV-BAT). The Total annual economic cost (TAEC) and the cost per unit of energy were first calculated, from PV-BAT data collected over a 12 month period and then from energy system model data for the same period. A comparison of the actual renewable energy yield to optimal model output revealed that energy was restrained partially due to limited storage resources. The cost per kilowatt-hour for the two examined scenarios ranged from 0.55 to 0.62 €/kWh and from 0.42 to 0.46 €/kWh, respectively, showing room for further cost reductions. Despite currently lower energy purchasing costs from electricity providers, these findings constitute a significant price indication of the kilowatt-hour produced by PV-BAT, showing the need for further investigation into battery sizing can be optimized and battery cost can be reduced.
ISSN:1996-1073
1996-1073
DOI:10.3390/en12071357