TY - JOUR
T1 - Comprehensive economic evaluations of a residential building with solar photovoltaic and battery energy storage systems
T2 - an Australian case study
AU - Akter, M. N.
AU - Mahmud, M. A.
AU - Oo, Amanullah M.T.
PY - 2017/3/1
Y1 - 2017/3/1
N2 - This paper presents a comprehensive framework for conducting economic analysis of a residential house along with the integration of solar photovoltaic (PV) units and battery energy storage systems (BESSs). The proposed framework is developed by considering different tariff structures of the existing energy market as well as the investment costs for the solar PV units and BESSs. In this paper, the economic evaluations are carried out based on different economic measures such as replacement cost, electricity bill, simple payback analysis, net present value, discounted payback analysis, and levelized cost of energy along with the reduction in carbon di-oxide (CO2) emissions and grid independency. The proposed framework is implemented on an Australian residential building by considering different real-time operating scenarios. The results from the analysis demonstrate the profitability of a residential building for the investment on solar PV units and BESSs.
AB - This paper presents a comprehensive framework for conducting economic analysis of a residential house along with the integration of solar photovoltaic (PV) units and battery energy storage systems (BESSs). The proposed framework is developed by considering different tariff structures of the existing energy market as well as the investment costs for the solar PV units and BESSs. In this paper, the economic evaluations are carried out based on different economic measures such as replacement cost, electricity bill, simple payback analysis, net present value, discounted payback analysis, and levelized cost of energy along with the reduction in carbon di-oxide (CO2) emissions and grid independency. The proposed framework is implemented on an Australian residential building by considering different real-time operating scenarios. The results from the analysis demonstrate the profitability of a residential building for the investment on solar PV units and BESSs.
KW - Cost-benefit analysis
KW - Solar PV units
KW - Energy storage systems
KW - Residential building
KW - Tariff structure
KW - Economic measures
UR - http://www.scopus.com/inward/record.url?scp=85007452828&partnerID=8YFLogxK
U2 - 10.1016/j.enbuild.2016.12.065
DO - 10.1016/j.enbuild.2016.12.065
M3 - Article
AN - SCOPUS:85007452828
SN - 0378-7788
VL - 138
SP - 332
EP - 346
JO - Energy and Buildings
JF - Energy and Buildings
ER -