A Quantitative Assessment of the Economic Viability of Photovoltaic Battery Energy Storage Systems
Rooftop PV-BESS installations often lose profitability despite policy support to accelerate capacity growth. This paper performs techno-economic analysis to assess the effect of heterogeneity in real-world conditions on the economic viability of residential rooftop PV-BESSs. The stochastic nature of...
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MDPI AG
2024-12-01
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| Online Access: | https://www.mdpi.com/1996-1073/17/24/6279 |
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| author | Aayesha S. Ahmad Sumit K. Chattopadhyay B. K. Panigrahi |
| author_facet | Aayesha S. Ahmad Sumit K. Chattopadhyay B. K. Panigrahi |
| author_sort | Aayesha S. Ahmad |
| collection | DOAJ |
| description | Rooftop PV-BESS installations often lose profitability despite policy support to accelerate capacity growth. This paper performs techno-economic analysis to assess the effect of heterogeneity in real-world conditions on the economic viability of residential rooftop PV-BESSs. The stochastic nature of generation and consumption is modeled as multiple deterministic scenarios that vary in the capacity rating of the PV system, climatic conditions (insolation and temperature), self-consumption ratio (SCR), generation–demand concurrence, and the presence/absence of capacity and storage subsidies. The results indicate that PV-BESSs are mostly profitable when operating at a capacity factor ≥ 18%. Furthermore, higher daytime electricity consumption enables greater savings with smaller storage capacities, thereby facilitating cost-effective installations at capacity factors ≥ 8%. However, low-yielding PV-BESSs and prosumers exhibiting low generation–demand concurrence require suitable subsidy allocations to become profitable. |
| format | Article |
| id | doaj-art-5c887fe1f8aa4292ada40a4788d24aa6 |
| institution | Kabale University |
| issn | 1996-1073 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj-art-5c887fe1f8aa4292ada40a4788d24aa62024-12-27T14:23:19ZengMDPI AGEnergies1996-10732024-12-011724627910.3390/en17246279A Quantitative Assessment of the Economic Viability of Photovoltaic Battery Energy Storage SystemsAayesha S. Ahmad0Sumit K. Chattopadhyay1B. K. Panigrahi2Centre for Sensors, Instrumentation and Cyber Physical System Engineering, Indian Institute of Technology Delhi, New Delhi 110016, IndiaDepartment of Energy Science and Engineering, Indian Institute of Technology Delhi, New Delhi 110016, IndiaDepartment of Electrical Engineering, Indian Institute of Technology Delhi, New Delhi 110016, IndiaRooftop PV-BESS installations often lose profitability despite policy support to accelerate capacity growth. This paper performs techno-economic analysis to assess the effect of heterogeneity in real-world conditions on the economic viability of residential rooftop PV-BESSs. The stochastic nature of generation and consumption is modeled as multiple deterministic scenarios that vary in the capacity rating of the PV system, climatic conditions (insolation and temperature), self-consumption ratio (SCR), generation–demand concurrence, and the presence/absence of capacity and storage subsidies. The results indicate that PV-BESSs are mostly profitable when operating at a capacity factor ≥ 18%. Furthermore, higher daytime electricity consumption enables greater savings with smaller storage capacities, thereby facilitating cost-effective installations at capacity factors ≥ 8%. However, low-yielding PV-BESSs and prosumers exhibiting low generation–demand concurrence require suitable subsidy allocations to become profitable.https://www.mdpi.com/1996-1073/17/24/6279annual yieldcapacity factorclimatic zonesDC-coupled PV-BESSgeneration–demand concurrenceglobal photovoltaic potential |
| spellingShingle | Aayesha S. Ahmad Sumit K. Chattopadhyay B. K. Panigrahi A Quantitative Assessment of the Economic Viability of Photovoltaic Battery Energy Storage Systems Energies annual yield capacity factor climatic zones DC-coupled PV-BESS generation–demand concurrence global photovoltaic potential |
| title | A Quantitative Assessment of the Economic Viability of Photovoltaic Battery Energy Storage Systems |
| title_full | A Quantitative Assessment of the Economic Viability of Photovoltaic Battery Energy Storage Systems |
| title_fullStr | A Quantitative Assessment of the Economic Viability of Photovoltaic Battery Energy Storage Systems |
| title_full_unstemmed | A Quantitative Assessment of the Economic Viability of Photovoltaic Battery Energy Storage Systems |
| title_short | A Quantitative Assessment of the Economic Viability of Photovoltaic Battery Energy Storage Systems |
| title_sort | quantitative assessment of the economic viability of photovoltaic battery energy storage systems |
| topic | annual yield capacity factor climatic zones DC-coupled PV-BESS generation–demand concurrence global photovoltaic potential |
| url | https://www.mdpi.com/1996-1073/17/24/6279 |
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