Measures for Assessing the Effectiveness of Investments for Electricity and Heat Generation from the Hybrid Cooperation of a Photovoltaic Installation with a Heat Pump on the Example of a Household

Mariusz Niekurzak (), Wojciech Lewicki, Wojciech Drożdż and Paweł Miązek
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Mariusz Niekurzak: Faculty of Management, AGH University of Science and Technology, 30-067 Krakow, Poland
Wojciech Lewicki: Faculty of Economics, West Pomeranian University of Technology Szczecin, 71-210 Szczecin, Poland
Wojciech Drożdż: Institute of Management, University of Szczecin, Cukrowa 8, 71-004 Szczecin, Poland
Paweł Miązek: Institute of Management, University of Szczecin, Cukrowa 8, 71-004 Szczecin, Poland

Energies, 2022, vol. 15, issue 16, 1-20

Abstract: In recent years, one of the key postulates in the European Union’s policy has become the development of renewable energy sources. In order to achieve the desired synergy effect, the idea of combining two selected sources of energy appeared. This article presents a technical and economic analysis of a hybrid connection of a ground source heat pump with a photovoltaic installation. Taking into account the heat demand of the building, a ground heat pump with a catalog nominal heating power of 25 kW was selected. This article presents the problem of the economic profitability of using a hybrid combination of a heat pump and photovoltaic panels in domestic hot water and central heating systems. The justification for the use of such heat sources in these installations is due to global trends and the gradual departure from conventional energy sources such as oil or gas boilers. This paper presents the economic and ecological results of using the pump heat connected together with photovoltaic panels. In the economic analysis, with the assumed installation costs related to the use of the considered heat pump and PV, two parameters commonly used in the investment analysis (static and dynamic) were used, namely, the simple payback period and the net present value of the investment. For the adopted assumptions, the usable area of the facility and the number of years of use were indicated, at which the investment in question is competitive with other alternative investment interest methods and will start to bring tangible benefits. The performed analysis also has measurable environmental benefits in the form of a reduction in carbon dioxide emissions at the level of 2893 kg/year into the atmosphere. The presented solution will help future investors understand the investment profitability mechanism for their households.

Keywords: renewable energy; heat pumps; photovoltaics; economic viability; renewable hybrid energy sources (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: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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