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

Author

Listed:
  • 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)

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.

Suggested Citation

  • Jerzy Mikulik & Mariusz Niekurzak, 2024. "Assessment of the Profitability of a Photovoltaic Installation Cooperating with Energy Storage Using an Example of a Medium-Sized Production Company," Energies, MDPI, vol. 17(18), pages 1-27, September.
    • Handle: RePEc:gam:jeners:v:17:y:2024:i:18:p:4740-:d:1483594
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    References listed on IDEAS

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    1. Aneke, Mathew & Wang, Meihong, 2016. "Energy storage technologies and real life applications – A state of the art review," Applied Energy, Elsevier, vol. 179(C), pages 350-377.
    2. Pablo Benalcazar & Adam Suski & Jacek Kamiński, 2020. "The Effects of Capital and Energy Subsidies on the Optimal Design of Microgrid Systems," Energies, MDPI, vol. 13(4), pages 1-23, February.
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