Economic optimization of hybrid PV-battery systems using hourly satellite insolation and daily temperature data: A case study

Publication Type:
Conference Proceeding
Citation:
2017 20th International Conference on Electrical Machines and Systems, ICEMS 2017, 2017
Issue Date:
2017-10-02
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© 2017 IEEE. This paper presents an economic optimization case study for a medium-scale hybrid PV-battery system. PV energy yield and battery operation models based on hourly satellite insolation and daily temperature data form the basis of an underlying objective function aiming to maximize the net present value of potential energy cost savings. Forecasted system prices and energy tariffs over a nine-year period are considered enabling the opportune year to invest and the characteristics of the corresponding optimal system to be determined.
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