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

Author

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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)

  • Konstantinos P. Tsagarakis

    (Department of Environmental Engineering, Democritus University of Thrace, 67100 Xanthi, Greece)

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.

Suggested Citation

  • Ioannis E. Kosmadakis & Costas Elmasides & Dimitrios Eleftheriou & Konstantinos P. Tsagarakis, 2019. "A Techno-Economic Analysis of a PV-Battery System in Greece," Energies, MDPI, vol. 12(7), pages 1-14, April.
    • Handle: RePEc:gam:jeners:v:12:y:2019:i:7:p:1357-:d:221107
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