A Techno-Economic Analysis of a PV-Battery System in Greece

Ioannis E. Kosmadakis, Costas Elmasides, Dimitrios Eleftheriou and Konstantinos Tsagarakis
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Ioannis E. Kosmadakis: Department of Environmental Engineering, Democritus University of Thrace, 67100 Xanthi, Greece
Costas Elmasides: Department of Environmental Engineering, Democritus University of Thrace, 67100 Xanthi, Greece
Dimitrios Eleftheriou: Department of Environmental Engineering, Democritus University of Thrace, 67100 Xanthi, Greece

Energies, 2019, vol. 12, issue 7, 1-14

Abstract: A techno-economic assessment has been carried out to evaluate the economic feasibility of energy self-consumption from a combination of photovoltaics and lead-acid batteries (PV-BAT). The Total annual economic cost (TAEC) and the cost per unit of energy were first calculated, from PV-BAT data collected over a 12 month period and then from energy system model data for the same period. A comparison of the actual renewable energy yield to optimal model output revealed that energy was restrained partially due to limited storage resources. The cost per kilowatt-hour for the two examined scenarios ranged from 0.55 to 0.62 €/kWh and from 0.42 to 0.46 €/kWh, respectively, showing room for further cost reductions. Despite currently lower energy purchasing costs from electricity providers, these findings constitute a significant price indication of the kilowatt-hour produced by PV-BAT, showing the need for further investigation into how battery sizing can be optimized and battery cost can be reduced.

Keywords: electricity cost; renewable energy; photovoltaics; energy storage; batteries; hybrid power; self-consumption; total annual economic cost (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: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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