Assessment of the Profitability of a Photovoltaic Installation Cooperating with Energy Storage Using an Example of a Medium-Sized Production Company

Jerzy Mikulik () and Mariusz Niekurzak ()
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Jerzy Mikulik: Faculty of Management, AGH University of Krakow, 30-067 Krakow, Poland
Mariusz Niekurzak: Faculty of Management, AGH University of Krakow, 30-067 Krakow, Poland

Energies, 2024, vol. 17, issue 18, 1-27

Abstract: This work aims to comprehensively analyze the cooperation of an electricity storage facility with an operating photovoltaic installation in a manufacturing company regarding the efficiency and effectiveness of the device and the economic profitability of the investment. This work aims to check the benefits that can be brought by expanding the PV system with an electricity storage facility. Based on the real energy balance and the characteristics of electricity distribution in the company, profitability calculations were carried out reflecting the expected savings generated by using individual solutions. These methods allowed the authors to calculate the market value of the investment with the assumed boundary criteria and to determine the economic effectiveness of the investment. Additionally, the practical process of selecting an electricity storage facility was presented and key moments in the company’s energy report were analyzed, in which the use of a battery could bring results. Calculations showed that supplementing the described PV installation with an energy storage facility will increase the current level of self-consumption of PV energy by over 14%. The benefits translate into the final effect of energy storage operation, which brings additional annual savings for the company of approximately EUR 23,000 in the case of a weaker device and roughly EUR 40,000 in the case of a more powerful energy storage device. The proposed research could improve the planning of new industrial plants for photovoltaic installations, as well as the redesign of existing ones.

Keywords: photovoltaic installation; energy storage; installation profitability; PV cooperation with energy storage (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: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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