The impacts of DC/AC ratio, battery dispatch, and degradation on financial evaluation of bifacial PV+BESS systems

Thunchanok Kaewnukultorn, Sergio B. Sepúlveda-Mora and Steven Hegedus

Renewable Energy, 2024, vol. 236, issue C

Abstract: As the price of solar modules has decreased, oversizing PV system becomes a general practice. Without proper energy management, the oversized systems could lead to over-generation waste which cause a loss in revenue. Battery energy storage system (BESS) can be integrated to the PV system for utilizing the over-consumption energy and increasing the system’s financial benefits. This paper highlights the influence of technical and financial factors on the photovoltaic (PV) and PV with BESS design. To analyze the impacts of the factors on PV systems, thirty-six system configurations with a variety of geographic locations, tariff structures, billing methods, and PV system technology are simulated using System Advisor Model (SAM) as a tool with result validation from measurements on a real oversized residential grid-tied bifacial PV+BESS system. To study the financial criteria that affect the optimal system design, we conducted the sensitivity analysis of the DC/AC ratio, battery replacement threshold, and battery size to observe the optimal system design based on three financial outputs: levelized cost of energy (LCOE), net present value (NPV), and payback period. The findings show that the optimal DC/AC ratio for residential-scale PV systems lies between 1.1 - 1.3 and can go up to 1.6 with BESS. PV+BESS systems can reduce the payback period by 20% and boost NPV by 80% compared to the PV-only systems. The sensitivity study of the battery replacement shows that the battery can be degraded until 50% of its maximum capacity for the lowest LCOE. To achieve the optimal grid-tied PV system design, each economic parameter should be evaluated together.

Keywords: Inverter clipping; Residential PV; DC/AC ratio; Photovoltaics; Battery storage system (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:renene:v:236:y:2024:i:c:s0960148124014708

DOI: 10.1016/j.renene.2024.121402

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