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Energy unit cost assessment of six photovoltaic-battery configurations

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  • Kosmadakis, Ioannis E.
  • Elmasides, Costas
  • Koulinas, Georgios
  • Tsagarakis, Konstantinos P.

Abstract

Demand for electricity is expected to increase significantly in the coming decades, one reason being the ongoing decarbonization process of the power and the transportation sectors, in an effort to reduce greenhouse gas emissions and thus alleviate climate change. Photovoltaics that harvest solar energy, coupled with energy storage systems are addressing these challenges effectively. In the current study, the simulated energy winnings from typical photovoltaic-battery (PV-BAT) configurations were economically evaluated, under equal technical and site-specific meteorological conditions. Furthermore, their capital, replacement, operation, and maintenance costs were inquired and the average unit cost of electricity per kWh was estimated based on specific energy cost estimation methods and a Monte-Carlo analysis addressing uncertain meteorological risk factors. The cost of electrical energy production in Greece was examined for six scenarios with varying battery technologies and module topologies. Calculated costs ranged from 0.17 to 0.24 €/kWh indicating a significant downward trend in the unit cost of electricity generated by PV-BAT systems. These findings indicate the need for further investigation into how the integration and utilization of such systems can be optimized. The proposed methodology is developed in line with the circular economy action plan which requires increased system efficiency, storage and renewable energy use.

Suggested Citation

  • Kosmadakis, Ioannis E. & Elmasides, Costas & Koulinas, Georgios & Tsagarakis, Konstantinos P., 2021. "Energy unit cost assessment of six photovoltaic-battery configurations," Renewable Energy, Elsevier, vol. 173(C), pages 24-41.
    • Handle: RePEc:eee:renene:v:173:y:2021:i:c:p:24-41
    DOI: 10.1016/j.renene.2021.03.010
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