Analysis of Smart Meter Electricity Consumption Data for PV Storage in the UK

Quentin Raillard-Cazanove and Edward Barbour
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Quentin Raillard-Cazanove: Centre for Renewable Energy Systems Technology, Loughborough University, Loughborough LE11 3TU, UK
Edward Barbour: Centre for Renewable Energy Systems Technology, Loughborough University, Loughborough LE11 3TU, UK

Energies, 2022, vol. 15, issue 10, 1-15

Abstract: Solar PV and battery energy storage (BES) costs for domestic consumers are constantly diminishing. On top of this, the end of the Feed-in-Tariff programme has significantly increased interest in combined PV + BES systems. In this paper, we explore the economics of domestic PV + BES systems, extending the current literature on the topic via the use of a large smart meter dataset and a demographic comparison. Predictably, time-varying tariffs and higher electricity prices generally strengthen the economic arguments for PV + BES systems, however our consumption data yields a wide range of Net Present Values for different consumers. In terms of demographics, we find that batteries are more favourable for more affluent households due to their larger consumption levels, though profitability becomes more uniform if the batteries are tailored to individual households. This is an important point for policy, since it indicates that if PV + BES systems become widely profitable this is unlikely to help the financial situation of lower-income households.

Keywords: PV; battery; NPV; consumer classification; smart meter data (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
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