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Optimized profitability of LFP and NMC Li-ion batteries in residential PV applications

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  • Ayuso, Pablo
  • Beltran, Hector
  • Segarra-Tamarit, Jorge
  • Pérez, Emilio

Abstract

This paper analyses the economic profitability provided by different types of Li-ion batteries when used in residential solar applications under a Model Predictive Control that optimizes the operation of the system. The control methodology takes profit of actually commercial time-of-use rates to minimize the operation costs. Also, the analysis takes into account the progressive degradation of the batteries involved by using state-of-the-art semi-empirical ageing models. The study is performed by means of annual simulations that use actual consumption curves for three different households and real PV production batteries, with extended lifetime warranties and prices below 600 €/kWh, under optimized operation and use even when only energy arbitrage and peak shaving services are considered.

Suggested Citation

  • Ayuso, Pablo & Beltran, Hector & Segarra-Tamarit, Jorge & Pérez, Emilio, 2021. "Optimized profitability of LFP and NMC Li-ion batteries in residential PV applications," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 183(C), pages 97-115.
    • Handle: RePEc:eee:matcom:v:183:y:2021:i:c:p:97-115
    DOI: 10.1016/j.matcom.2020.02.011
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    2. Vasallo, Manuel Jesús & Cojocaru, Emilian Gelu & Gegúndez, Manuel Emilio & Marín, Diego, 2021. "Application of data-based solar field models to optimal generation scheduling in concentrating solar power plants," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 190(C), pages 1130-1149.
    3. Al-Wreikat, Yazan & Attfield, Emily Kate & Sodré, José Ricardo, 2022. "Model for payback time of using retired electric vehicle batteries in residential energy storage systems," Energy, Elsevier, vol. 259(C).
    4. Delagnes, T. & Henneron, T. & Clenet, S. & Fratila, M. & Ducreux, J.P., 2023. "Comparison of reduced basis construction methods for Model Order Reduction, with application to non-linear low frequency electromagnetics," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 211(C), pages 470-488.

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