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Cost-Effectiveness of Li-Ion Battery Storage with a Special Focus on Photovoltaic Systems in Private Households

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Abstract

Using a self-developed economic model with a technical battery aging component, this paper provides a new approach to evaluating the economic efficiency of Li-ion battery storage. We use our model to quantify the increase in self-consumption of electricity from a solar photovoltaic system by means of a home battery storage system. Regarding battery aging, we find that the longest battery lifetimes can be achieved with the highest state-of-charge limit, which is, however, not economically efficient due to limited self-consumption. Although one of the three battery pooling concepts was identified as not being economically efficient, namely the case of Sonnen, our evaluation shows that economic efficiency can, in principle, be achieved with home battery pooling concepts. In future research, the model-based impacts on self-consumption and batteryaging found here ought to be validated by using real world data from the systems analyzed.

Suggested Citation

  • Vonsien, Silvia & Madlener, Reinhard, 2018. "Cost-Effectiveness of Li-Ion Battery Storage with a Special Focus on Photovoltaic Systems in Private Households," FCN Working Papers 2/2018, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    • Handle: RePEc:ris:fcnwpa:2018_002
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    Cited by:

    1. Specht, Jan Martin & Madlener, Reinhard, 2018. "Business Models for Energy Suppliers Aggregating Flexible Distributed Assets and Policy Issues Raised," FCN Working Papers 7/2018, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    2. Pereira, Guillermo Ivan & Specht, Jan Martin & Silva, Patrícia Pereira & Madlener, Reinhard, 2018. "Technology, business model, and market design adaptation toward smart electricity distribution: Insights for policy making," Energy Policy, Elsevier, vol. 121(C), pages 426-440.
    3. Heesen, Florian & Madlener, Reinhard, 2021. "Revisiting heat energy consumption modeling: Household production theory applied to field experimental data," Energy Policy, Elsevier, vol. 158(C).
    4. Wolff, Stefanie & Madlener, Reinhard, 2019. "Charged up? Preferences for Electric Vehicle Charging and Implications for Charging Infrastructure Planning," FCN Working Papers 3/2019, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    5. Karami, Mahdi & Madlener, Reinhard, 2018. "Business Model Innovation for the Energy Market: Joint Value Creation for Electricity Retailers and their Residential Customers," FCN Working Papers 15/2018, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).
    6. Liu, Xueying & Madlener, Reinhard, 2021. "The sky is the limit: Assessing aircraft market diffusion with agent-based modeling," Journal of Air Transport Management, Elsevier, vol. 96(C).
    7. Liu, Xueying & Madlener, Reinhard, 2019. "Get Ready for Take-Off: A Two-Stage Model of Aircraft Market Diffusion," FCN Working Papers 15/2019, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN).

    More about this item

    Keywords

    Solar photovoltaics; Battery storage; Battery aging; Home battery pooling; Cost effectiveness;
    All these keywords.

    JEL classification:

    • Q40 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - General
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources

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