A semi-empirical financial assessment of combining residential photovoltaics, energy efficiency and battery storage systems

Oliva H., S; Passey, R; Abdullah, MA

A semi-empirical financial assessment of combining residential photovoltaics, energy efficiency and battery storage systems

Oliva H., S

Passey, R Abdullah, MA

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Publication Type:: Journal Article
Citation:: Renewable and Sustainable Energy Reviews, 2019, 105 pp. 206 - 214
Issue Date:: 2019-05-01

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Field	Value	Language
dc.contributor.author	Oliva H., S https://orcid.org/0000-0003-4133-259X	en_US
dc.contributor.author	Passey, R	en_US
dc.contributor.author	Abdullah, MA	en_US
dc.date.accessioned	2020-04-03T07:49:34Z
dc.date.available	2020-04-03T07:49:34Z
dc.date.issued	2019-05-01	en_US
dc.identifier.citation	Renewable and Sustainable Energy Reviews, 2019, 105 pp. 206 - 214	en_US
dc.identifier.issn	1364-0321	en_US
dc.identifier.uri	http://hdl.handle.net/10453/139786
dc.description.abstract	© 2019 Elsevier Ltd Extraordinary declines in the cost of photovoltaic systems (PV), combined with a growing range of energy efficient consumer technologies (EE), has driven significant deployment of these two options in many jurisdictions. This deployment has proven to be a key way to mitigate the risks of catastrophic climate change. However, existing retail electricity arrangements can create mixed incentives for households contemplating investing in both PV and EE. This is caused by net metering arrangements that value self-consumption of PV generation far more than PV exports to the grid. This means that falling household demand due to EE may significantly reduce the financial value of PV. Meanwhile, the continuous cost decline of battery storage systems (BS) has encouraged more PV owners to consider storing PV exports to maximise self-consumption. However, there has been little research on whether the addition of BS could reduce barriers to the combined uptake of PV and EE. In this paper, real PV generation and electricity consumption data is used from numerous households in Sydney (Australia), together with a battery cyclelife model, to assess the financial outcomes of combining PV, EE and BS. The results indicate that EE can reduce PV system revenue, that adding BS to a combination of PV and EE generally increases PV revenue, that BS costs are still high for this residential application, and that the uptake of EE can result in deeper BS cycling which reduces the battery lifetime.	en_US
dc.relation.ispartof	Renewable and Sustainable Energy Reviews	en_US
dc.relation.isbasedon	10.1016/j.rser.2019.01.042	en_US
dc.subject.classification	Energy	en_US
dc.title	A semi-empirical financial assessment of combining residential photovoltaics, energy efficiency and battery storage systems	en_US
dc.type	Journal Article
utslib.citation.volume	105	en_US
utslib.for	0907 Environmental Engineering	en_US
utslib.for	09 Engineering	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/DVC (Research)
pubs.organisational-group	/University of Technology Sydney/DVC (Research)/Institute For Sustainable Futures
utslib.copyright.status	closed_access
pubs.publication-status	Published	en_US
pubs.volume	105	en_US

Abstract:

© 2019 Elsevier Ltd Extraordinary declines in the cost of photovoltaic systems (PV), combined with a growing range of energy efficient consumer technologies (EE), has driven significant deployment of these two options in many jurisdictions. This deployment has proven to be a key way to mitigate the risks of catastrophic climate change. However, existing retail electricity arrangements can create mixed incentives for households contemplating investing in both PV and EE. This is caused by net metering arrangements that value self-consumption of PV generation far more than PV exports to the grid. This means that falling household demand due to EE may significantly reduce the financial value of PV. Meanwhile, the continuous cost decline of battery storage systems (BS) has encouraged more PV owners to consider storing PV exports to maximise self-consumption. However, there has been little research on whether the addition of BS could reduce barriers to the combined uptake of PV and EE. In this paper, real PV generation and electricity consumption data is used from numerous households in Sydney (Australia), together with a battery cyclelife model, to assess the financial outcomes of combining PV, EE and BS. The results indicate that EE can reduce PV system revenue, that adding BS to a combination of PV and EE generally increases PV revenue, that BS costs are still high for this residential application, and that the uptake of EE can result in deeper BS cycling which reduces the battery lifetime.

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http://hdl.handle.net/10453/139786