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Energy performance and life cycle cost assessments of a photovoltaic/thermal assisted heat pump system

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  • Cui, Yuanlong
  • Zhu, Jie
  • Zoras, Stamatis
  • Qiao, Yaning
  • Zhang, Xin

Abstract

A photovoltaic/thermal module assisted heat pump system is investigated in this paper, which provides electrical and thermal energy for a domestic building. In-depth evaluation on the system energy production is conducted based on the finite difference method for a long-term operating period. The 25 years’ system life cycle cost is assessed via the Monte Carlo simulation under the Feed-in Tariff (FiT) and Renewable Heat Incentive schemes, the annual energy savings, income and payback period (PBP) are compared for the FiT and Smart Export Guarantee (SEG) schemes. The technical analysis results illustrate that the system is able to fulfil the building thermal and electrical energy demands from April to October and from May to August, respectively, and the extra electricity of 229.47 kWh is fed into the grid. The economic assessment results clarify that the system achieves a net present value (NPV) of £38,990 and has a PBP of 4.15 years. Meanwhile, the economic sensitive analyses reveal that the high discount rate reduces the system NPV whereas the high investment cost causes a long PBP to realize the positive NPV. Compared with the SEG scheme, the FiT is the most cost-effective method for renewable electricity generation and has the shortest PBP.

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  • Cui, Yuanlong & Zhu, Jie & Zoras, Stamatis & Qiao, Yaning & Zhang, Xin, 2020. "Energy performance and life cycle cost assessments of a photovoltaic/thermal assisted heat pump system," Energy, Elsevier, vol. 206(C).
    • Handle: RePEc:eee:energy:v:206:y:2020:i:c:s0360544220312159
    DOI: 10.1016/j.energy.2020.118108
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    3. McClean, A. & Pedersen, O.W., 2023. "The role of regulation in geothermal energy in the UK," Energy Policy, Elsevier, vol. 173(C).
    4. Herrando, M. & Coca-Ortegón, A. & Guedea, I. & Fueyo, N., 2023. "Experimental validation of a solar system based on hybrid photovoltaic-thermal collectors and a reversible heat pump for the energy provision in non-residential buildings," Renewable and Sustainable Energy Reviews, Elsevier, vol. 178(C).
    5. Carla Cristiane Sokulski & Murillo Vetroni Barros & Rodrigo Salvador & Evandro Eduardo Broday & Antonio Carlos de Francisco, 2022. "Trends in Renewable Electricity Generation in the G20 Countries: An Analysis of the 1990–2020 Period," Sustainability, MDPI, vol. 14(4), pages 1-21, February.
    6. Sree Harsha Bandaru & Victor Becerra & Sourav Khanna & Jovana Radulovic & David Hutchinson & Rinat Khusainov, 2021. "A Review of Photovoltaic Thermal (PVT) Technology for Residential Applications: Performance Indicators, Progress, and Opportunities," Energies, MDPI, vol. 14(13), pages 1-48, June.
    7. Josué F. Rosales-Pérez & Andrés Villarruel-Jaramillo & José A. Romero-Ramos & Manuel Pérez-García & José M. Cardemil & Rodrigo Escobar, 2023. "Hybrid System of Photovoltaic and Solar Thermal Technologies for Industrial Process Heat," Energies, MDPI, vol. 16(5), pages 1-45, February.
    8. Pei, Yingju & Liu, Qingyou & Wang, Chuan & Wang, Guorong, 2021. "Energy efficiency prediction model and energy characteristics of subsea disc pump based on velocity slip and similarity theory," Energy, Elsevier, vol. 229(C).
    9. Shao, Suola & Zhang, Huan & Fan, Xianwang & You, Shijun & Wang, Yaran & Wei, Shen, 2021. "Thermodynamic and economic analysis of the air source heat pump system with direct-condensation radiant heating panel," Energy, Elsevier, vol. 225(C).

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