Economic evaluation of a PV combined energy storage charging station based on cost estimation of second-use batteries

Sadhu

Env Prog and Sustain Energy

et al. 2019

The primary source of energy is depleting day by day owing to an increase in per capita energy consumption. To ensure energy security, to minimize climate change problems and to guarantee sustainable development, the useful utilization of renewable energy potential is of utmost importance. Recent researches reveal significant environmental effects in utilization of photovoltaic technology in large power plants located in urban locations. Further observations depict that the ground mounted PV power plants occupy large land spaces in the modern cities. These have led to the escalation of land price which has resulted in increasing the levelized tariff of electricity. Floating Solar Photovoltaic (FSPV) is an alternative to mitigate the aforesaid problems. In this article, a techno‐economic feasibility of a 10 MW FSPV plant is done to show the economic viability and environmental suitability in maintaining ecological balance through adoption of floating solar photovoltaic technology as compared to conventional ground mounted PV systems. The results show that floating solar photovoltaic power plant has 10.2% more generating capacity than land based PV system and producing 28.38 MU excess generation over the life cycle of the plant. The FSPV plant will save the land cost burden of USD 352125 and water cess burden of USD 47,600. This results in reducing the levelized tariff of FSPV plant to USD 0.026/kWh which is 39% less than land based PV power plant. The FSPV plant will also save 92,945.92 MT of Coal and a total CO2 emission of 340,801.74 ton. The FSPV power plant will help to bridge the gap between energy demand and supply along with reducing the cost of electricity and protecting the environment.

“…One of the most important factor in calculating the Net Present Value is the Discounting Factor (d). 37,38 In this case d is taken as 10%. The financial estimates are given in Table 4.…”

Section: Project Cost Estimation For Floating Solarmentioning

confidence: 99%

Floating solar power plant for sustainable development: A techno‐economic analysis

Sadhu

Env Prog and Sustain Energy

et al. 2019

“…One BCU is configured for every 16 BEUs, and one BMU is configured with 10 BCUs. Finally, the BMS communicates through the controller area network (CAN) [33,37], as shown in Figure 4. According to Figure 4 and the literature review, we have obtained the factors of NEV's battery second use in energy storage.…”

Section: System Dynamic Modelmentioning

confidence: 99%

“…As for extending the service life of the power grid, BESS stores electricity during the period of low grid load, and releases electricity during the period of the peak grid load so that it can meet the power demand without expanding the grid, which then improves the service life of the grid. Moreover, if the BESS is installed on the new energy generation side, it can reduce the intermittent power generation (such as wind power, photovoltaic) to reduce the no-load of the generator, thereby improving the continuity of new energy generation and reducing the use of thermal power generation, which is good for the ecological environment [5,6,[18][19][20][21][22][23][27][28][29][30][31][32][33][34].…”

Section: Introductionmentioning

confidence: 99%

Second Use Value of China’s New Energy Vehicle Battery: A View Based on Multi-Scenario Simulation

et al. 2020

Nowadays, many countries are actively seeking ways to solve the energy crisis and environmental pollution. New Energy Vehicle (NEV) has become an important way to solve these problems. With the rapid development of NEV, its batteries need to be replaced with new batteries after 5–8 years. Therefore, whether the second use of NEV’s battery has commercial or social value becomes a research hotspot. The innovation of this paper is to use the cost-benefit method to determine the value influencing factors of NEV’s battery second use, and use system dynamics to perform scenario simulation analysis. The methods used in this paper are the cost-benefit method and system dynamics method. Firstly, this paper systematically analyzes the cost and benefit factors that affect the second use value of China’s NEV batteries and uses system dynamics to establish the relationship and value model among various factors. Then, this paper compares the value of battery energy storage between old batteries and new batteries. According to the cost-income factor analysis, this paper eventually selects specific factors and uses VENSIM software to carry out the multi-scenario simulation. The results show that NEV’s battery second use has commercial and social value compared to new battery energy storage. Moreover, battery cost, government subsidies, and electricity prices are three important factors that affect the second use value of China’s NEV battery. Changing the government’s cash subsidy methods, such as providing free batteries or combining new energy to reduce on-grid tariffs, will help increase the second use value of the NEV battery. In the future, the second use value of China’s NEV battery industry will be more significant, with the update of the technology, the surge in the number of NEV’s used batteries, and government support.

“…A decrease in battery cost offers an effective approach to the development of PV‐BES systems. A combined PV energy storage charging station in China employed reconditioned electrical vehicle batteries in order to reduce the energy storage cost …”

Section: Introductionmentioning

confidence: 99%

“…A combined PV energy storage charging station in China employed reconditioned electrical vehicle batteries in order to reduce the energy storage cost. 17 Nowadays, great performance improvements and sharp cost reductions of batteries have allowed the distributed PV-BES system to replace the standalone PV system. Rather than modelling a hybrid system with fixed capacity of PV and BES from a business case perspective, this study optimises reasonable capacity of a distributed PV system coupling using different batteries with a fixed capacity-matching ratio of PV to BES from the perspective of higher benefit and reasonable energy use-and evaluates the influence of an energy storage subsidy on the profit from this hybrid system.…”

Section: Introductionmentioning

confidence: 99%

Economic analysis of an industrial photovoltaic system coupling with battery storage

et al. 2019

Summary The Energy and Evaluation Special Committee of the China Price Association proposed two types of bill for battery energy storage (BES) subsidies in 2017: the first was that energy storage should be subsidised based on the initial installation capacity of BES system, while the second was that it should be subsidised based on the energy discharged by the BES system during the operational period. The economic benefits of a distributed photovoltaic (PV) system or a distributed system with PV and BES in the overall life cycle are discussed in the context of an industrial zone in Shanghai. The results suggest that the net present value (NPV) of a PV‐BES system with an optimised configuration is higher than the NPV of a PV system alone. The NPV of a distributed PV system with four different BESs is found to decrease in the order Li‐ion > NaS > VFB > Pb‐C because of the characteristics of their batteries. The NPVs of PV‐BES systems increase in equal proportion to the increase in the BES subsidy based on installation capacity for these four BES systems, while they show an inequable growth rate of earnings for the same BES subsidy based on the energy discharged over the operational period. The second bill for BES subsidy is more beneficial to the BES industry than the first, as it encourages higher pay for more work.