Method for Sizing of a PV System for Family Home Using Economic Indicators

Zvonimir Šimić, Danijel Topić, Ilija Crnogorac and Goran Knežević
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Zvonimir Šimić: Faculty of Electrical Engineering, Computer Science and Information Technology, Josip Juraj Strossmayer University of Osijek, 31000 Osijek, Croatia
Danijel Topić: Faculty of Electrical Engineering, Computer Science and Information Technology, Josip Juraj Strossmayer University of Osijek, 31000 Osijek, Croatia
Ilija Crnogorac: Croatian Transmission System Operator, 31000 Osijek, Croatia
Goran Knežević: Faculty of Electrical Engineering, Computer Science and Information Technology, Josip Juraj Strossmayer University of Osijek, 31000 Osijek, Croatia

Energies, 2021, vol. 14, issue 15, 1-18

Abstract: This paper presents a method for finding an optimal photovoltaic (PV) system according to Croatian legislation. The PV sizing model, in which a decision on investment is made according to economic indicators, is made using MATLAB Software. Based on the input data, the monthly PV system production is calculated, and electricity price formed. According to the PV system production and electricity price, economic indicators are calculated and obtained as output data. The model input data are solar irradiation, load diagram, PV system costs and market price of electricity while the model output data are PV system production, savings, profit, incomes, Net Present Value (NPV) and Levelized Cost of Electricity (LCOE). The obtained economic indicators are presented graphically and used for decision making on an optimal PV system size. The presented model is applied and presented in a case study.

Keywords: photovoltaic; sizing; electricity price; economic indicators; NPV; LCOE (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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