Economic and policy analysis for solar PV systems in Indiana

Jung, Jinho; Tyner, Wallace E.

doi:10.1016/j.enpol.2014.08.027

Cited by 37 publications

(8 citation statements)

References 13 publications

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“…Installing a grid-independent roof-top PV system into a household has the potential to provide a return by eliminating electricity bills. In order to evaluate the attractiveness of this investment to a rational actor, we include an economic analysis in our model using a net present value (NPV ) analysis as described in Equation 21 [13,32,33].…”

Section: Economic Modelmentioning

confidence: 99%

Techno-economic feasibility of grid-independent residential roof-top solar PV systems in Muscat, Oman

Al-Saqlawi

Madani

Dowell

2018

Energy Conversion and Management

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Oman is a country characterised by high solar availability, yet very little electricity is produced using solar energy. As the residential sector is the largest consumer of electricity in Oman, we develop a novel approach, using houses in Muscat as a case study, to assess the potential of implementing roof-top solar PV/battery technologies, that operate without recourse to the electricity grid. Such systems target the complete decarbonisation of electricity demand per household and are defined in this study as grid-independent systems. The approach adopted starts with a technical assessment of grid-independent systems that evaluates the characteristics of the solar panel and the battery facility required to provide grid-independence. This is then compared to a similar grid-connected system and any techno-economic targets necessary to enhance the feasibility of residential roof-top PV systems in Muscat are identified. Such an analysis was achieved through developing a detailed techno-economic mathematical model describing four subsystems ; the solar panel DC source, the grid-independent subsystem , the grid-connected subsystem and the economic subsystem. The model was implemented in gPROMS and uses real hourly weather and climate conditions matched with real demand data, over a simulated period of 20 years. The results indicate that, in the context of the system studied, grid-independent PV systems are not feasible. However, combined with a su ciently high electricity price, grid-independent systems can become economically feasible only with significant reductions in battery costs (>90% reductions).

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Section: Economic Modelmentioning

confidence: 99%

Techno-economic feasibility of grid-independent residential roof-top solar PV systems in Muscat, Oman

Al-Saqlawi

Madani

Dowell

2018

Energy Conversion and Management

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“…Untuk melindungi baterai dan sebagai pengaman dari tegangan yang berlebih, maka digunakanchargecontrolleryang disesuaikan dengan spesifikasi panel surya dan baterai. [8] Initial Installation Cost (IIC) adalah biaya instalasi awal yaitu biaya yang dikeluarkan untuk membeli sistem hibrid diawal tahun pertama. Persamaan untuk menghitung biaya investasi awal (IIC) adalah sebagai berikut : [9] Yearly Payment (PI) adalah pembayaran pinjaman termasuk pokok dan bunga dalam setahun.…”

Section: Penentuan Spesifikasi Charge Controller [7]unclassified

Analisis Teknis dan Ekonomis Pada Kapal Wisata Dengan Menggunakan HybridSystem Di Alun-Alun Sungai Kapuas

Ferdyanto¹

2016

ELKHA

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Abstract– Ketersediaan energi tak terbarukan yang kian menipis dapat menjadi permasalahan bagi kehidupan manusia. Kapal Wisata di Kota Pontianak menggunakan BBM HSD. Untuk mendapatkan penghematan biaya penggunaan BBM HSD menggunakan metode hybrid system. Keputusan pelaksanaan proyek dan kelayakan investasi menggunakan metode model ekonomi. Berdasarkan hasil rancangan diperoleh kapasitas baterai sebesar 48 volt 800 Ah. Waktu kemampuan baterai menggerakkan motor listrik DC selama 1 jam 25 menit dengan kecepatan 6,7 knots dan dapat menempuh sejauh 17,4 km. Penghematan biaya penggunaan BBM HSD setelah penerapan hybrid system dalam setahun sebesar Rp 37,777,500,- (60%). Parameter yang digunakan untuk analisis ekonomis adalah Break Even Point (BEP) pada periode tahun ke-9 dengan nilai surplus Rp 13.732.680,- Gross Benefit Cost Ratio (Gross B/C) adalah 1,32, Return on Investment (ROI) sebesar 32%, Net Present Value (NPV)senilai Rp 100.381.535,- dan Internal Rate of Return (IRR) sebesar 17,57% dalam periode 20 tahun. Hasil keputusan secara keseluruhan dari penerapan hybrid system adalah proyek dapat dilaksanakan serta investasi layak dan menguntungkan. Keywords– kapal wisata, motor listrik DC, hybrid system

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“…Combining the concepts of energy production and consumption at the residential level, studies in energy economics refer to a household with an energy-generating capacity as a "prosumer" (see Sun et al [1], MacGill and Smith [2], Green and Staffell [3], and Schill et al [4]). There are several benefit-cost analyses that examine a prosumer's decision to adopt a single renewable source (examples include Zarte and Pechmann [5], Jung and Tyner [6], and Swift [7]). For example, Ghaitha et al [8] examine the economics of a residential wind turbine system while Ghaitha et al [9] and Swift [7] study the economic feasibility of a residential solar panel system.…”

Section: Introductionmentioning

confidence: 99%

Notes on the Economics of Residential Hybrid Energy System

et al. 2019

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Despite advances in small-scale hybrid renewable energy technologies, there are limited economic frameworks that model the different decisions made by a residential hybrid system owner. We present a comprehensive review of studies that examine the techno-economic feasibility of small-scale hybrid energy systems, and we find that the most common approach is to compare the annualized life-time costs to the expected energy output and choose the system with the lowest cost per output. While practical, this type of benefit–cost analysis misses out on other production and consumption decisions that are simultaneously made when adopting a hybrid energy system. In this paper, we propose a broader and more robust theoretical framework—based on production and utility theory—to illustrate how the production of renewable energy from multiple sources affects energy efficiency, energy services, and energy consumption choices in the residential sector. Finally, we discuss how the model can be applied to guide a hybrid-prosumer’s decision-making in the US residential sector. Examining hybrid renewable energy systems within a solid economic framework makes the study of hybrid energy more accessible to economists, facilitating interdisciplinary collaborations.

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Economic and policy analysis for solar PV systems in Indiana

Cited by 37 publications

References 13 publications

Techno-economic feasibility of grid-independent residential roof-top solar PV systems in Muscat, Oman

Techno-economic feasibility of grid-independent residential roof-top solar PV systems in Muscat, Oman

Analisis Teknis dan Ekonomis Pada Kapal Wisata Dengan Menggunakan HybridSystem Di Alun-Alun Sungai Kapuas

Notes on the Economics of Residential Hybrid Energy System

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