Life-Cycle Cost Analysis of an Installed Multiunit Seasonal Thermal Energy Store

Abstract

Abstract:The financial viability of a solar STES (seasonal thermal energy store) installed in a mixed commercial and residential multiunit development of low-energy buildings located in Lysekil, Sweden, a maritime Scandinavian Climate has been investigated. Using recorded figures for the installation costs and performance, a financial life cycle analysis has been undertaken to determine the cost effectiveness of the system. The time value of money is considered and an LCC (life cycle cost) analysis undertaken to identify the cost-effectiveness of the solution. It shows that while a direct heating and hot water system incorporating STES can be economically viable in a Swedish maritime climate in the long term, assistance such as that provided by government incentives is required to assist with the high capital cost of the initial investment.