IDEAS home Printed from https://ideas.repec.org/a/gam/jeners/v17y2024i13p3075-d1419798.html
   My bibliography  Save this article

Economic Analysis of Profitability of Using Energy Storage with Photovoltaic Installation in Conditions of Northeast Poland

Author

Listed:
  • Maciej Neugebauer

    (Faculty of Technical Science, University of Warmia and Mazury in Olsztyn, Oczapowskiego Str. 2, 10-719 Olsztyn, Poland)

  • Jakub d’Obyrn

    (Faculty of Economic Sciences, University of Warmia and Mazury in Olsztyn, Oczapowskiego Str. 2, 10-719 Olsztyn, Poland)

  • Piotr Sołowiej

    (Faculty of Technical Science, University of Warmia and Mazury in Olsztyn, Oczapowskiego Str. 2, 10-719 Olsztyn, Poland)

Abstract

This work presents an economic analysis of the use of electricity storage in PV installations, based on previously adopted assumptions, i.e., the type and location of the tested facility and comparative variants, divided into the share of the storage in the installation, and the billing system. The work takes into account the share of the energy shield and assumes a consumption limit of 2000 kWh. The cost of building the installation is based on July 2023 prices. The work assumes potential directions of changes in electricity prices, based on which the degree of investment profitability for a given price situation is determined. Depending on the adopted change in the direction of electricity prices, with a low price increase rate, for installations in the new billing system (net-billing), the optimal choice is an installation without energy storage with a power exceeding the actual energy demand. Assuming a high increase in electricity prices, the optimal choice is an installation with energy storage with an installation capacity exceeding the actual demand. For installations billed using the net-metering system, the optimal choice is an installation without storage with an appropriately selected installation power. This article shows how much you can gain after installing a PV installation and not only what costs must be incurred to complete the investment. Profit analysis will enable a more complete assessment of the profitability of investing in PV panels (with or without energy storage). It describes the verification of the profitability of a PV installation for a standard user depending on various types of settlements with the electricity supplier and the lack or installation of an energy-storage facility.

Suggested Citation

  • Maciej Neugebauer & Jakub d’Obyrn & Piotr Sołowiej, 2024. "Economic Analysis of Profitability of Using Energy Storage with Photovoltaic Installation in Conditions of Northeast Poland," Energies, MDPI, vol. 17(13), pages 1-13, June.
    • Handle: RePEc:gam:jeners:v:17:y:2024:i:13:p:3075-:d:1419798
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1996-1073/17/13/3075/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1996-1073/17/13/3075/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Mulleriyawage, U.G.K. & Shen, W.X., 2020. "Optimally sizing of battery energy storage capacity by operational optimization of residential PV-Battery systems: An Australian household case study," Renewable Energy, Elsevier, vol. 160(C), pages 852-864.
    2. Chen, Qi & Kuang, Zhonghong & Liu, Xiaohua & Zhang, Tao, 2024. "Optimal sizing and techno-economic analysis of the hybrid PV-battery-cooling storage system for commercial buildings in China," Applied Energy, Elsevier, vol. 355(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mulleriyawage, U.G.K. & Shen, W.X., 2021. "Impact of demand side management on optimal sizing of residential battery energy storage system," Renewable Energy, Elsevier, vol. 172(C), pages 1250-1266.
    2. Jiyoung Eum & Yongki Kim, 2020. "Analysis on Operation Modes of Residential BESS with Balcony-PV for Apartment Houses in Korea," Sustainability, MDPI, vol. 13(1), pages 1-9, December.
    3. Nicola Blasuttigh & Simone Negri & Alessandro Massi Pavan & Enrico Tironi, 2023. "Optimal Sizing and Environ-Economic Analysis of PV-BESS Systems for Jointly Acting Renewable Self-Consumers," Energies, MDPI, vol. 16(3), pages 1-25, January.
    4. Sun, Xiaoqin & Lin, Yian & Zhu, Ziyang & Li, Jie, 2022. "Optimized design of a distributed photovoltaic system in a building with phase change materials," Applied Energy, Elsevier, vol. 306(PA).
    5. Rona George Allwyn & Rashid Al Abri & Arif Malik & Amer Al-Hinai, 2021. "Economic Analysis of Replacing HPS Lamp with LED Lamp and Cost Estimation to Set Up PV/Battery System for Street Lighting in Oman," Energies, MDPI, vol. 14(22), pages 1-25, November.
    6. Mahtab Murshed & Manohar Chamana & Konrad Erich Kork Schmitt & Suhas Pol & Olatunji Adeyanju & Stephen Bayne, 2023. "Sizing PV and BESS for Grid-Connected Microgrid Resilience: A Data-Driven Hybrid Optimization Approach," Energies, MDPI, vol. 16(21), pages 1-22, October.
    7. Chen, Xi & Liu, Zhongbing & Wang, Pengcheng & Li, Benjia & Liu, Ruimiao & Zhang, Ling & Zhao, Chengliang & Luo, Songqin, 2023. "Multi-objective optimization of battery capacity of grid-connected PV-BESS system in hybrid building energy sharing community considering time-of-use tariff," Applied Energy, Elsevier, vol. 350(C).
    8. Zhi, Yuan & Yang, Xudong, 2023. "Scenario-based multi-objective optimization strategy for rural PV-battery systems," Applied Energy, Elsevier, vol. 345(C).
    9. Shabani, Masoume & Wallin, Fredrik & Dahlquist, Erik & Yan, Jinyue, 2022. "Techno-economic assessment of battery storage integrated into a grid-connected and solar-powered residential building under different battery ageing models," Applied Energy, Elsevier, vol. 318(C).
    10. Chen, Qi & Kuang, Zhonghong & Liu, Xiaohua & Zhang, Tao, 2024. "Application-oriented assessment of grid-connected PV-battery system with deep reinforcement learning in buildings considering electricity price dynamics," Applied Energy, Elsevier, vol. 364(C).
    11. Wu, Yaling & Liu, Zhongbing & Liu, Jiangyang & Xiao, Hui & Liu, Ruimiao & Zhang, Ling, 2022. "Optimal battery capacity of grid-connected PV-battery systems considering battery degradation," Renewable Energy, Elsevier, vol. 181(C), pages 10-23.
    12. Jiaqi Liu & Hongji Hu & Samson S. Yu & Hieu Trinh, 2023. "Virtual Power Plant with Renewable Energy Sources and Energy Storage Systems for Sustainable Power Grid-Formation, Control Techniques and Demand Response," Energies, MDPI, vol. 16(9), pages 1-28, April.
    13. Lucas Deotti & Wanessa Guedes & Bruno Dias & Tiago Soares, 2020. "Technical and Economic Analysis of Battery Storage for Residential Solar Photovoltaic Systems in the Brazilian Regulatory Context," Energies, MDPI, vol. 13(24), pages 1-30, December.
    14. Liao, Wei & Xiao, Fu & Li, Yanxue & Zhang, Hanbei & Peng, Jinqing, 2024. "A comparative study of demand-side energy management strategies for building integrated photovoltaics-battery and electric vehicles (EVs) in diversified building communities," Applied Energy, Elsevier, vol. 361(C).
    15. George Stamatellos & Antiopi-Malvina Stamatellou, 2024. "The Interaction between Short- and Long-Term Energy Storage in an nZEB Office Building," Energies, MDPI, vol. 17(6), pages 1-27, March.
    16. Wang, Chuyao & Ji, Jie & Song, Zhiying & Ke, Wei, 2024. "Performance analysis and capacity configuration of building energy system integrated with PV/T technology under different operation strategies," Energy, Elsevier, vol. 293(C).
    17. Khaled Osmani & Ahmad Haddad & Mohammad Alkhedher & Thierry Lemenand & Bruno Castanier & Mohamad Ramadan, 2023. "A Novel MPPT-Based Lithium-Ion Battery Solar Charger for Operation under Fluctuating Irradiance Conditions," Sustainability, MDPI, vol. 15(12), pages 1-31, June.
    18. Liu, Jiangyang & Liu, Zhongbing & Wu, Yaling & Chen, Xi & Xiao, Hui & Zhang, Ling, 2022. "Impact of climate on photovoltaic battery energy storage system optimization," Renewable Energy, Elsevier, vol. 191(C), pages 625-638.
    19. Khaled Guerraiche & Latifa Dekhici & Eric Chatelet & Abdelkader Zeblah, 2023. "Techno-Economic Green Optimization of Electrical Microgrid Using Swarm Metaheuristics," Energies, MDPI, vol. 16(4), pages 1-19, February.
    20. Song, Hui & Gu, Mingchen & Liu, Chen & Amani, Ali Moradi & Jalili, Mahdi & Meegahapola, Lasantha & Yu, Xinghuo & Dickeson, George, 2023. "Multi-objective battery energy storage optimization for virtual power plant applications," Applied Energy, Elsevier, vol. 352(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jeners:v:17:y:2024:i:13:p:3075-:d:1419798. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.