Financial and environmental analysis of rooftop photovoltaic installations with battery storage in Australia

Nicholls, A.K.; Sharma, Rahul; Saha, Tapan Kumar

doi:10.1016/j.apenergy.2015.08.052

Cited by 54 publications

(19 citation statements)

References 24 publications

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“…Other works show that integrated PV-ESS can be profitable. This is verified in territories characterized by higher electricity prices and lower FIT values than European conditions [51,52].…”

Section: Literature Reviewmentioning

confidence: 55%

Solar Photovoltaic Panels Combined with Energy Storage in a Residential Building: An Economic Analysis

et al. 2018

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Renewable energy is a wide topic in environmental engineering and management science. Photovoltaic (PV) power has had great interest and growth in recent years. The energy produced by the PV system is intermittent and it depends on the weather conditions, presenting lower levels of production than other renewable resources (RESs). The economic feasibility of PV systems is linked typically to the share of self-consumption in a developed market and consequently, energy storage system (ESS) can be a solution to increase this share. This paper proposes an economic feasibility of residential lead-acid ESS combined with PV panels and the assumptions at which these systems become economically viable. The profitability analysis is conducted on the base of the Discounted Cash Flow (DCF) method and the index used is Net Present Value (NPV). The analysis evaluates several scenarios concerning a 3-kW plant located in a residential building in a PV developed market (Italy). It is determined by combinations of the following critical variables: levels of insolation, electricity purchase prices, electricity sales prices, investment costs of PV systems, specific tax deduction of PV systems, size of batteries, investment costs of ESS, lifetime of a battery, increases of self-consumption following the adoption of an ESS, and subsidies of ESS. Results show that the increase of the share of self-consumption is the main critical variable and consequently, the break-even point (BEP) analysis defines the case-studies in which the profitability is verified.

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Section: Literature Reviewmentioning

confidence: 55%

Solar Photovoltaic Panels Combined with Energy Storage in a Residential Building: An Economic Analysis

et al. 2018

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“…In this work, we complete a comparative techno-economic assessment of different HEMS strategies considering forecast and computational limitations. Recent research in this area, assessing the techno-economic feasibility of PV-battery systems [12][13][14][15][16][17][18][19][20][21][22] has neglected a detailed holistic comparison of several energy management strategies, such as the effects of forecast errors and modeling assumptions of the performance of a strategy.…”

Section: Contributionsmentioning

confidence: 99%

Energy management of small-scale PV-battery systems: A systematic review considering practical implementation, computational requirements, quality of input data and battery degradation

Azuatalam

Paridari

et al. 2019

Renewable and Sustainable Energy Reviews

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The home energy management problem has many different facets, including economic viability, data uncertainty and quality of strategy employed. The existing literature in this area focuses on individual aspects of this problem without a detailed, holistic analysis of the results with regards to practicality in implementation. In this paper, we fill this gap by performing a comprehensive comparison of seven different energy management strategies, each with different levels of practicality, sophistication and computational requirements. We analyse the results in the context of these three characteristics, and also critique the modelling assumptions made by each strategy. Our analysis finds that using a more sophisticated energy management strategy may not necessarily improve the performance and economic viability of the PV-battery system due to the effects of modeling assumptions, such as the treatment of uncertainties in the input data and battery degradation effects.

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“…They were selected based on potential savings that they can create, market accessibility, and modelling simplicity. Solar photovoltaic (PV) installation is one of the most common and viable retrofitting options in a country like Australia with high solar irradiation levels [43]. It is a retrofit option that does not deal with "efficiency" per se (i.e.…”

Section: Bayesian Network Developmentmentioning

confidence: 99%

Role of financial mechanisms for accelerating the rate of water and energy efficiency retrofits in Australian public buildings: Hybrid Bayesian Network and System Dynamics modelling approach

et al. 2018

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In Australia, the government spending on public buildings' energy and water consumption is considerable; however the building energy and water retrofit market potential has been diminished by a number of barriers, especially financial. In contrast, in other advanced economies there are several reported financing strategies that have been shown to accelerate retrofit projects implementation. In this study, a coupled Bayesian Network-System Dynamics model was developed with the core aim to assess the likely influence of those novel financing options and procurement procedures on public building retrofit outcomes scenarios in the Australian context. A particular case-study focusing on Australian public hospitals was showcased as an example in this paper. Stakeholder engagement was utilised to estimate likely preferences and to conceptualise causal relationships of model parameters. The scenario modelling showed that a revolving loan fund supporting an energy performance contracting procurement procedure was preferred. Subsequently, the specific features of this preferred framework were optimised to yield the greatest number of viable retrofit projects over the long term. The results indicated that such a financing scheme would lead to substantial abatement of energy and water consumption, as well as carbon emissions. The strategic scenario analysis approach developed herein provides evidence-based support to policy-makers advocating novel financing and procurement models for addressing a government's sustainability agenda in a financially responsible and netpositive manner.

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Financial and environmental analysis of rooftop photovoltaic installations with battery storage in Australia

Cited by 54 publications

References 24 publications

Solar Photovoltaic Panels Combined with Energy Storage in a Residential Building: An Economic Analysis

Solar Photovoltaic Panels Combined with Energy Storage in a Residential Building: An Economic Analysis

Energy management of small-scale PV-battery systems: A systematic review considering practical implementation, computational requirements, quality of input data and battery degradation

Role of financial mechanisms for accelerating the rate of water and energy efficiency retrofits in Australian public buildings: Hybrid Bayesian Network and System Dynamics modelling approach

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