Comparative Economic Analysis of Solar PV and Reused EV Batteries in the Residential Sector of Three Emerging Countries—The Philippines, Indonesia, and Vietnam

Hong Eun Moon, Yoon Hee Ha and Kyung Nam Kim ()
Additional contact information
Hong Eun Moon: Energy Environment Policy and Technology, Graduate School of Energy and Environment (KU-KIST Green School), Korea University, Seoul 02841, Republic of Korea
Yoon Hee Ha: Energy Environment Policy and Technology, Graduate School of Energy and Environment (KU-KIST Green School), Korea University, Seoul 02841, Republic of Korea
Kyung Nam Kim: Energy Environment Policy and Technology, Graduate School of Energy and Environment (KU-KIST Green School), Korea University, Seoul 02841, Republic of Korea

Energies, 2022, vol. 16, issue 1, 1-26

Abstract: An emerging problem associated with the increased global demand for electric vehicles (EVs) is the post-use of lithium-ion batteries installed in them. Discarded batteries maintain 70–80% of their performance; thus, they are highly valuable recycling resources. Accordingly, technologies that complement the intermittency of renewable energy by integrating discarded EV batteries into battery energy storage systems (BESSs) are receiving attention. Here, the economic feasibility of a residential solar photovoltaic (PV) + reused BESS (RBESS) integrated system in three emerging countries (Philippines, Indonesia, and Vietnam) was analyzed by comparing its performance with that of diesel power generation and central grid-supplied power. The proposed system had a higher economic feasibility than diesel power generation (55.9% lower LCOE) but a lower economic feasibility than the central grid-supplied power (282.7% higher LCOE) in all three countries. Additionally, we conducted a sensitivity analysis by incorporating the investment cost, government subsidy, and social cost of greenhouse gas emissions. In conclusion, the Philippines is the best country for grid parity with the integrated system, following Indonesia and Vietnam. This study examined both the economic and social benefits of the proposed system as a countermeasure to climate change and the virtuous resource cycle.

Keywords: reused EV batteries; residential solar PV; battery energy storage system; economic feasibility analysis; HOMER (Hybrid Optimization of Multiple Energy Resources) Pro (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:

Downloads: (external link)
https://www.mdpi.com/1996-1073/16/1/311/pdf (application/pdf)
https://www.mdpi.com/1996-1073/16/1/311/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jeners:v:16:y:2022:i:1:p:311-:d:1017071

Access Statistics for this article

Energies is currently edited by Ms. Agatha Cao

More articles in Energies from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().